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ARDIDEN LTD — Capital/Financing Update 2020
Mar 16, 2020
64307_rns_2020-03-16_f67226c2-f78c-45cf-8323-95f7db22c71d.pdf
Capital/Financing Update
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17 March 2020
UNMARKETABLE PARCEL SALE FACILITY – CLOSING DATE
Further to the announcement released 20 January 2020, Ardiden Limited (ASX: ADV) ( Ardiden or the Company ) is providing a share sale facility ( Facility ) for shareholders who hold less than $500 worth of fully paid ordinary ADV shares ( Unmarketable Parcel ).
Based on the ASX closing price of ADV’s shares ($0.004) on Wednesday 15 January 2020 (being the Record Date) the Directors determined a less than marketable parcel was any shareholding of 124,999 shares or less. Shareholders with an Unmarketable Parcel were instructed to return the Share Retention Form by no later than 5.00 pm (Sydney time) on Tuesday 3 March 2020 (being the Closing Date) if they wished to retain their shareholding.
The Company confirms that following the receipt of Share Retention Forms, the ADV shares not the subject of those forms and therefore the final number of shares eligible to be sold under the Facility is 48,189,701 shares from a total of 1,266 shareholdings.
The final sale price of shares under the Facility will be determined by when and how the shares are sold. ADV may sell the shares on market or in any other way it considers fair and reasonable in the circumstances. ADV intends to finalise the sales as soon as practicable. All shareholders whose shares are sold through the Facility will receive the same price per share and ADV will update the market in respect of final sales made under the Facility.
On completion of the sale, sale proceeds will be paid in Australian dollars by Cheque to the relevant recipients including Non-resident holders.
Authorised for release by Rob Longley, Managing Director & CEO and Neil Hackett, Non-Executive Chairman.
For further information:
Investors : Media and Investor Relations: Rob Longley Karen Oswald Managing Director & CEO NWR Communications Tel: +61 8 9322 7600 Tel +61 (0) 423 602 353 [email protected] [email protected]
ASX Code: ADV
ARDIDEN LIMITED Level 1, 34 Colin St West Perth WA 6005 Tel: +61 (0) 8 9322 7600