It is disappointing an frustrating on many levels. It is however...

It is disappointing an frustrating on many levels. It is however a typical David and Goliath negotiation where FUJI are bullying CYP. Only in real life there is no magical slingshot to slay the giant.
It's hard to read the mood/sentiment from an announcement but my perception of it is that the management are not happy.

The assumption by Oceanview is that FUJI proposed a crap deal and CYP said no. That could well be the case or not. It sounds feasible along with many other assumptions on takeover possibilities.

I think the six month extension as a freebie to FUJI is far to long without a specific reason.
Why six months? why not three months? why not thirty days? If in the next six months, nothing of any consequence occurs.....as pointed out by Blokes, it's going to cast yet another bad shadow over the management cheap options, cheap loan and the CGT period.
For now I can only give them the benefit of the doubt.

They need to be working their butts of for the next six months, there needs to be competitive tension and contingency plans in place that include for FUJI not taking up the options.
I don't exude lots of faith in management, going forward they really have there work cut out. I seriously hope they are up to it.