Ann: Retention Notice - Sale of Unmarketable Parcels, page-17

Hi @Rookie19901

There are a few possible scenarios here, I am watching all of them.

Perhaps you are trying to promote the company as having a prospective partner on the line.
I notice you are declaring to be a holder.

The reason for the company notice to sell unmarketable parcels of shares is to reduce the liability of administration costs at Ardea.
I fully support this action by the board.

Another possible reason to reduce unmarketable parcels of shares is to remove opportunistic holders holding a few shares, all it takes is 1 share to take advantage of Share Purchase Plans, they hold a few shares to keep an interest and take full advantage of priority offerings and SPP when they present.

This will remove small Ghost owners as well, as you rightfully declare with sinister motive.

There are 1698 shareholders in the company with share holdings under $500.00 in total value
This cohort of shareholders represent 37% of the companies shareholders in numbers but represent a mere 0.5% of the shares owned.
These small holders are costing the company a fortune in administrative costs and I agree that the board should remedy the situation.

The board are being very considerate and sensitive in this matter, these shareholders are being assisted and encouraged to increase their holdings by taking action with the Share Purchase Plan currently underway, should they wish to pass on this they can opt to do nothing and exit Ardea.

The board are cleaning up the registry as well as giving a perfect opportunity to increase holdings should they wish.

I disagree with you regards this action to remove these small unmarketable holdings, to you they are'nt worth the effort of the board.

I learned a long time ago, to look after the small things, in that way the big things fall into place. Clean and tidy.

I support the board.

To the notion that the board are paving the way to (a scheme of arrangement (2nd limb threshold).

I can tell you that they are talking to and negotiating with many prospective suitors, they have declared this, its public knowledge, 2+ years and counting.
I have been here since IPO.

You declare a holding, perhaps you have multiple accounts with 1 share in each.

This announcement about unmarketable parcels however has nothing to do with that ongoing partnership process.
There is no signed partner agreement, therefore there is nothing but speculation.

RED