top 20 shareholders of ady, page-5

From 12th March announcement.

Debt Repayment
Highlights:
• July 2007 A$10m converting note loan exercised by Leveraged Capital at 20%
premium to market ($0.27 exercise price) on 11 March 2008
• 37,037,037 shares issued (3.6% of issued capital) on exercise
• Admiralty Resources Total outstanding debt US$20m converting note with Cornell
Capital, A$10m loan facility with Hawkswood Investments Pty Ltd
• Total shares on issue 1,021,336,239 Shares and 2,000,000 non-executive director
options

also, recent announcement from deloittes re Opes administration..

Late in the afternoon of Thursday 27th March 2008, following the appointment of voluntary
administrators by the Directors of the Opes Prime Group, Sal Algeri and Chris Campbell from the
Deloitte Corporate Reorganisation Group were appointed by a secured creditor, ANZ, as Receivers
and Managers of Opes Prime Group Ltd, Opes Prime Stockbroking Ltd, Leveraged Capital Pty Ltd
and Hawkswood Investments Pty Ltd.



So, in addition to the 80mil of shares that Hawkswood have, there is also 37mil of shares tied up in Leveraged Capital which is also an Opes prime subsidiary and has also gone into administration.




Hmm..