NAME ADDRESSHIN NoNUMBER OF SHARES HELDTo The CEo Mark Diamond and the board of Directors of ANPThe 2019 AGM saw shareholders pass a very generous 10% of the companies registry as an Employee Share Option Plan to the CEO and its board of directors as a whole in ANP as per below
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If i may take the board back to 2013
The board of directors issued as per Ann dated 27/9/2013 as per below A loyalty option issue for all shareholders on the passing of a consolidation of our Shares on issue
27 September 2013Proposed Consolidation of Securities and Loyalty Option Issue Loyalty Option IssueAs part of a broader capital management strategy and to recognise the continuous support of its loyal shareholders, the Company is pleased to announce a proposed Loyalty Option issue to shareholders.
Subject to shareholders approving the consolidation of the Company’s securities at the Company’s Annual General Meeting on 1 November 2013 and the Company issuing the relevant Prospectus, ANP proposes to undertake a 1 for 3 non-renounceable entitlement offer of one new option for every three existing shares held on the 28 November 2013
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I would like to thank the board for that issue along with the reissue at minimal cost on expiry.
The reissue obviously paid of, as A total of $5.5 mil was raised through shareholder conversion and the underwriting of those options left to expire.
This capital injection from the option conversion was obviously a welcome injection into the company, as funds were looking rather low
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In light of the shareholder support that management were shown by shareholders passing all the very generous resolutions in favour of the ESOP
Along with the further financial support that shareholders showed in the option conversion to the tune of $5.5mil
As a shareholder i would ask this board to consider at this years AGM to put its shareholders first and foremost and consider a further issue along the lines of the 2013 issue where 1/3 of the company was offered up in the form of a loyalty option
It could look something along the lines of
An issue to all holders and board members excluding those members that were issued in the past ESOP issue
To be issued on the size of the present register and not including any near term CR should they eventuate
1 for 3 as per 2013 with an issue of 166,666,666 options with a conversion price of 20c and a two year expiry
Giving a total of
$33.3 Mil should all options be converted
As you can see the ratio and conversion for the loyalty issue proposed comes no where near as generous as the ESOP that shareholders supported along with its ZERO $ conversion route and 48 month expiry this board received.
As a loyal and supportive shareholder i would hope that this board can see fit to support this request from its loyal shareholders giving you the board the opportunity to thank all shareholders for their support along the journey we have all endured thus far.
I would ask along with other shareholders that submitted this letter, that if the board do not put forward a resolution supporting this request, then this letter be considered as a formal document to be added to the notice of the Annual General meeting and a formal response replied to in the results of the meeting
Yours Sincerely
