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$4.18 adriatic metals plc

Ann: Litigation Proceedings Commenced by Sandfire Resources, page-16

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Wever

105 Posts.

15

31/07/20

10:11

Post #: 46207237
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Originally posted by JID: ↑

Morning Guys,

Rather unexpected, although I do recall some previous CR's where SFR was not included. Even back then there was a concern that SFR would gain a controlling stake and we viewed the ADT management team as shrewd.

Unless there is some underlying advantage for SFR in taking this course of action it would otherwise seem very confrontational vs. the immediate financial gain. Even if SFR were awarded the 4.1m shares that they think they have erroneously missed out on it would only equate to A$8.2m ... and that is if these were awarded at NIL cost (they would likely have to pay the subscription cost if they won a court case).

I think it is safe to say that the SFR / ADT relationship is beyond acrimonious and SFR realise that any TO process would be highly competitive and rebuffed vigorously by ADT. That is good. As a shareholder of MOD who lost a LOT of money due to an opportunistic TO by SFR at a low ebb in the cycle I am glad that the ADT management team are much more astute to lowball TO risks.

Cheers
John

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Well stated.

ADT Price at posting: $1.89 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last $4.18		Change -0.040(0.95%)		Mkt cap ! $1.173B

Open	High	Low	Value	Volume
$4.18	$4.18	$4.18	$50.22K	12.10K

Buyers (Bids)

No.	Vol.	Price($)
2	492	$4.16

Sellers (Offers)

Price($)	Vol.	No.
$4.22	23151	12

View Market Depth

No.	Vol.	Price($)
9	4816	4.180
6	9717	4.170
5	5313	4.160
3	6149	4.150
2	1692	4.140

Price($)	Vol.	No.
4.210	2520	6
4.220	16416	6
4.230	3215	3
4.240	3330	3
4.250	4753	2

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