MPJ 0.00% 0.0¢ mining projects group limited

shape shifters, page-21

  1. 819 Posts.
    Stig, there have been a number of people here who have asked that the Company extend the options "as a sign of good faith" unfortunately the options cannot be extended as they have a finite date, and there is no provision to extend the date. Although they will expire June 30, 2016 trading will cease at least 10 days prior to that date as per ASX listing rules, so those wishing to exit, and not convert, will need to do it before then if possible. The only thing that the Company could do is issue new options with a longer date however, the approval to issue the new options can only be done after approval by Shareholders at an AGM or EGM and at this stage this not seem to be an agenda item for the proposed EGM. I guess you have to understand the options were purchased on the basis that they would expire, and or have to be converted prior to the date. I guess it was a gamble that may or may not pay off.
 
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Currently unlisted public company.

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