ADN 12.5% 0.7¢ andromeda metals limited

Ann: Director Appointment/Resignation, page-31

  1. 727 Posts.
    lightbulb Created with Sketch. 390
    Hi big, it looks like he will get roughly half the number of shares you quote as it will be pro-rated till the 30th June, unless FID happens before. Then this is still subject to sharholder approval.

    It also says that if there is no gm before the annual then he will get cash, if this is case then its already all over most likely.

    I dont think they will hold an EGM just to issue shares, so it will be tied in with something else, they might need to do an EGM for an equity raise as part of a finance deal or they might not. Even if they don't need an EGM for an equity raise they might still hold one to reset the 15%. I would say we will need one if all goes to plan.

    It will be interesting to see how we vote if we get FID as the SP will be well above the .0735 price by the time we vote. If it's 2/3c plus we might opt to just give him cash. There are also restrictions on him selling the shares whilst he is a director.

    Jean and ADN know this and I believe it's not about him getting paid but whatever it is he's bringing to the table to get finance done and FID, however it falls with shares or cash is just a token.
 
watchlist Created with Sketch. Add ADN (ASX) to my watchlist
(20min delay)
Last
0.7¢
Change
-0.001(12.5%)
Mkt cap ! $24.00M
Open High Low Value Volume
0.8¢ 0.8¢ 0.7¢ $5.493K 708.0K

Buyers (Bids)

No. Vol. Price($)
14 10683068 0.7¢
 

Sellers (Offers)

Price($) Vol. No.
0.8¢ 15314351 30
View Market Depth
Last trade - 16.10pm 14/02/2025 (20 minute delay) ?
ADN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.