ADO

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2.1¢ anteotech ltd

Ann: Notice of Annual General Meeting/Proxy Form, page-52

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vijayghelani

402 Posts.

959

15/10/23

09:26

Post #: 70349994
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Originally posted by What A Gas: ↑

Below are the option issue conditions (fom the AGM ann):

• Exercise Price: the higher of:
o $0.048 (4.8 cents) – being 50% above the issue price of Shares under the Share Purchase Plan;
and
o 43% above the ASX closing price of Shares on the date that the Options are granted.
• Expiry Date: the earlier of 30 November 2026 or 6 months after the date that the relevant Director ceases
to be a Director of the Company.
• Exercise Period: any time after vesting and prior to the expiry date.
• Vesting Conditions: the Options will vest (and become capable of exercise) as follows:
o 50% of each Director’s Options vest on 30 November 2024; and
o 50% of each Director’s Options vest on 30 November 2025.
• Issue of Shares: Each Option on exercise (and payment of the exercise price) entitles the holder to one
fully paid ordinary share in the capital of the Company

According to my reading, (admittedly a bit of a dim-wit) the exercise price will 4.8 cents OR should 1.43 times the SP on date of approval be above 4.8 cents, it will be that figure.In other words an SP above (4.8 / 1.43 = 3.35) 3.6 cents would cause the second condition to apply to the strike price, whereas an SP of 3.5 cents or below would result in a strike price of 4.8 cents.

e.g. if (by some miracle) the SP were 10 cents the strike price would be 14.3 cents.

[Thus, being a cynic, I am not expecting any earth-shattering news before the AGM, as the strike price could skyrocket, but given a 'respectable' time interval after the AGM, SP fireworks can still be believed in / hoped for.]

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Good Pick Up , I hope you are correct in the way you are reading it re: +43% above share price when options granted

Whilst I am a big fan of David I feel the 0.048 exercise price is a little too generous given its based upon +50% over SPP price - the share price tanked on news of Capital Raise

I am very confident we will see something positive announced before the AGM , I am sure David is doing everything he can overseas to deliver something he can point too that his first year in the helm has been a success and a appetiser for things to come.

ADO Price at posting: 3.0¢ Sentiment: Buy Disclosure: Held
15 Upvote

0 Great analysis

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Ann: Notice of Annual General Meeting/Proxy Form, page-52

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Ann: Notice of Annual General Meeting/Proxy Form, page-52

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