Ann: ADN: Bidder's Statement, page-28

3 mins. after Imerys get's the MEP 25% they launch a T.O of ADN. (I assumed everyone knows that's a given).
ADN is 5x more expensive to buy in 2-3 years than now. ADN is itself cheap.

James would be running ADN at x2 the salary in an Imerys division. ith a bunch of equity from his ADN shares.

James has a vision to make halloysite kaolin the wonder material. Fully financed and not having to worry about shareholders or the board crap would be his dream. Remember he was a Imerys employee for 20 years.

Let's just see what happens in the next few weeks.