3 questions lodged at 2025 Adisyn hybrid AGM
November 29, 2025
Below is the text of the 3 written questions submitted at the 20 minute Adisyn (AI1) 3pm Perth time virtual AGM via Xcend platform on November 26, 2025. Market cap $43m on AGM day after stock soared and then halved. See notice of meeting and voting results with no protest votes. No formal addresses were lodged with the ASX .
Q1. We went into a trading halt at 9.11am on January 22 this year citing a no details capital raising, then just 38 minutes later at 9.49am, The AFR's Street Talk column reported we were "seeking to raise about $7.5 million via an institutional placement priced at 9.5ยข a share", which was a hefty 17.4% discount to the previous close. It wasn't until 9.27am on January 24 that we announced the details of a $10m placement to the ASX at 9.5c, which we claimed was "heavily over-subscribed". The stock is now at 5.5c. Did we authorise any of the 3 investment banks and brokers were that we paid an excessive 6% cash fee to manage this offer to selectively brief AFR Street Talk journalists on this deal? As an ordinary retail shareholder in the company, why did I only find out what we were doing after the event when the placement outcome announcement was lodged. Shouldn't the disclosure system be ASX before AFR?
Answer: was not read out during the meeting but the chair suggested would be in contact later with a response.
Q2. Why do you keep asking for an extra 10% placement capacity and are you aware that resolutions like this have been defeated at many AGMS this season? Shareholders generally don't like this. Next time you raise capital, will you consider doing a pro-rata issue which treats all shareholders equally, rather than issuing as much as 25% of the company's shares to whoever you like, potentially diluting existing shareholders without compensation. Please don't put this up again next year and have you fallen short of the required 75% support based on the proxy votes?
Answer: was not read out during the meeting but the chair suggested would be in contact later with a response.
Q3. Resolution 8. Which legal firm advised us to go ahead with this proportional takeovers resolutions. It is not suitable for small caps like us. Why are we doing it?
Answer: was not read out during the meeting but the chair suggested would be in contact later with a response.
Copyright © 2025 The Mayne Report. All rights reserved
