The Amendment responds to the decision of the ADE General Meeting held on 30 September 2011 which did not approve the proposed grant to BPT of 75 million unlisted options exercisable on or before 30 June 2016 at an exercise price of $0.40 per option (“Options”).
This is less than 1 month ago. Begs questions, why were BPT prepared to pay 40 cents to exercise those options (on or before 30 June 2012) when they had just recently paid only 16.5 cents for nearly 20% of the company and now just 20 cents for the rest.
BPT are great allies, but, VERY NASTY enemies.
Probably have over 50% by close of trade and that will be the end of any "competition". Knowing BPT they could even pull the offer from the market as soon as they get their 50%. could be a very hectic afternoon.
Again, please forgive my intrusion, but, being an ICN sh I was really "hoping" that ADE would stay in 218 and 855 as a buffer from the likely bully tactics of BPT without ADE.
ADE Price at posting:
20.0¢ Sentiment: Sell Disclosure: Not Held
