The two largest outside investors, Helikon and L1 Capital, have also signed undertakings covering almost 127 million shares—about 37 % of the company. Their commitments are worded slightly differently (L1 can fall away if a “superior offer” emerges, Helikon’s is unconditional), but both currently back the DPM deal.
Category
Name
Shares covered
% of Adriatic issued share capital*
Adriatic directors
Laura Tyler
64,591
0.019 %
Peter Bilbe
1,050,000
0.304 %
Michael Rawlinson
457,792
0.133 %
Directors subtotal
1,572,383
0.46 %
Supporting (non-director) holders
Helikon Investments Limited
— (individual split not disclosed)
—
L1 Capital Pty Ltd
— (individual split not disclosed)
—
Helikon + L1 subtotal
126,968,662 (combined)
36.77 %
Total irrevocably committed
128,541,045
≈ 37.23 %
ADT Price at posting:
$5.00 Sentiment: Buy Disclosure: Held
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