3 questions lodged at 2026 Loyal Metals (LLM) hybrid AGM
May 27, 2026
Below is the text of the 3 written questions submitted at the Loyal Metals (LLM) 11am AEST virtual AGM via Automic on May 27, 2026. Market cap $64.7m on AGM day. Accumulated losses of $27.3m and net assets of $24m as at December 31, 2025. See notice of meeting detailing 4 resolutions and voting results. The proxies were not disclosed early in the formal addresses. Lodged these 4 written questions at 15 minute meeting 2025 AGM with no protest votes. It has agreed to a $70m takeover by Indonesian firm BUMI at 45c and has 1,339 shareholders.
Q1. Did we assist BUMI in making contact with the 6 shareholders which signed up to the takeover for their collective 28.6% before the deal was even announced to the ASX. How many shareholders were approached and declined to sign up and where was the line drawn in terms of who was and wasn't approached?
Answer: Speed reader and Loyal Metals chair Peretz Schapiro reckons it was his people, not predator BUMI, who locked up 28.6% of the register to sign for its $70m cash acquisition before it was even announced to the ASX. Is that how it normally works? Watch video of exchange via Twitter.
Q2. Why have we put up the additional placement capacity resolution when we've agreed to be taken over? Please withdraw this resolution.
Answer: The chair... Watch video of exchange via Twitter.
Q3. Why are we proceeding with approving the previous placement when we've agreed to a $78m takeover from BUMI at 45c a share? If you withdraw this item now, what harm would be done?
Answer: The chair... Watch video of exchange via Twitter.
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