I also don't like the fact that every pip the stock goes...

I also don't like the fact that every pip the stock goes down...the BOD make money.
This isn't how it's supposed to go.

I'll give them the benefit of the doubt that they "may" have thought the SP was going to go up but, here we are.

The 50-75% option thing was too clever.
I'm happy and expect directors to milk shareholders. It's the way it is on the ASX.
...to a degree but, not like this.

The 61M options aren't that bad however, they should have just made it simple.
tranche 1 strike price 11 cents and
tranche 2 @ 18 cent...or something along those lines.

Now, it looks like the BOD will sit on news til the AGM...
YES, I know they have continuous disclosure obligations Listing Rule 3.1 however...
these are open to opinion and would be hard to prove.

-Hey, testing looks done.
-It's looks ok but get them to re-check THIS part...we want the JORC update perfect.
or
-Now that we have funds...I can get HPA 5N, 6N testing done in 3 weeks (for 150k).
-Ummm, the market isn't big on HPA now...let save our money til oppies are cashed in 12 months.

Shoot me for being cynical, but, not only do I think that...
I think many of the recent sellers of ADN think that. Maybe they come back a few days before the AGM?

If ADN blast the market with amazing newsflow the day after the AGM...
(well wouldn't that be great for some new option holders.)
That would make it look like what it is.
and it's perfectly legal. Morallt right. Hmmm.

I think 1 person is behind the idea of those options...and voting NO on RES 2 fixes it.

It wouldn't take much for ADN to send out a "REVISED" Res 3,4.
It puts the directors and option holders BACK on side and in the same boat as SHs.

This is how I feel and my opinion on the matter.

Again, I'm sure the BOD are all wonderful guys...however, I and many of you have seen lessor things that were tried on SHs in the past.

I'm 100% positive on ADN long term, meduim term and short term...
We are sitting on a winner with James and ADN.

I normally NEVER tell posters when I'm buying but, I moved a few things around and leveraged myself a bit...to BUY a few shares this week. For me it's about getting as many as I can, even if it means I avg. up.

I HAVE to BUY on market and don't get the luxury of fancy dis-counted options.

In 2 months this will all be history.
My hope is that Andrew does the right thing and steps down.

There is some incredibly talents and VERY experienced directors out there that can help take ADN to the next level and give James the advice he needs.
The appointment of a director like this could do wonders for ADN's SP too.

IMO
DYOR!!