US ADR's

I must admit I am a bit perplexed with the US investing opportunity where Lynas is concerned. For example, I noticed that the recent offer will be extended to shareholders in Australia and New Zealand but not the US. It would seem to me that if the offer were available to one foreign entity (NZ) it should be available to all exchanges. Is this a function of Mellon Bank or are other forces at work?…

As a US Lynas investor I feel like we are taking a back seat to the rest of the investing community. For one thing we (LYSDY) are charged a significant and annoying “ADR fee” on an annual basis by the Mellon Bank (US). I am sure I could find this detail in the prospectus but knowing about these “hidden” charges do not eliminate them…

ADR’s are a direct investment and since actual shares are owned I am wondering why the current offer is not passed through to those who actually own the shares. As a question, since Mellon Bank physically holds my shares are they allowed to exercise the offer utilizing my shares?

I’m pretty sure we are looking at decisions made at the finance (banking) level but it escapes me as to who makes the decision that certain foreign investors (New Zealand) qualify for the offer while shareholders from other countries (holding direct ADR’s) are excluded….

If there is anyone who is better versed in these concerns and understands the current situation, I would greatly appreciate your input!…