Ardiden Limited (ASX: ADV) (''Ardiden' or 'the Company') wishes to advise that it is establishing an opt-out share sale facility (Facility) for shareholders who hold less than $500 worth of fully paid ordinary ADV shares (Unmarketable Parcel).

As at market close on Wednesday 15 January 2020 (Record Date), the closing price of the Company's shares on the ASX was $0.004 and on this basis an Unmarketable Parcel is 124,999 shares or less.

In accordance with the Company's Constitution and ASX Listing Rules, the attached letter and Retention of Shares Form will be sent to all shareholders holding an Unmarketable Parcel of shares as at the Record Date.

Shareholders with an Unmarketable Parcel who wish to retain their shareholding need to give the Company written notice by returning the Share Retention Form by no later than 5.00pm (Sydney time) on Tuesday 3 March 2020 otherwise their shares will be sold by the Company.

Shareholders wishing to take advantage of the Facility and have their shares sold by the Company do not need to take any action.

The Company is providing the Facility to all holders of Unmarketable Parcels to sell their shares without incurring any costs that may otherwise make a sale of their shares uneconomic. In addition, the Company expects to reduce the administrative costs associated with maintaining a large number of small shareholdings, including the costs printing and mailing documents to shareholders.

A summary of key dates in relation to the Facility are as follows

Unmarketable Parcel Record Date 7.00pm (Sydney time), Wednesday 15 January 2020

Despatch of Letter to holders of Unmarketable Parcels and Announcement to ASX Monday 20 January 2020

Closing Date for receipt of Share Retention Form 5.00pm (Sydney time) Tuesday 3 March 2020

Ardiden may modify these dates or suspend or terminate the Facility. Any modification, suspension or termination will be notified to shareholders by way of a market announcement. Authorised for release by Rob Longley, CEO and Neil Hackett, Non-executive Chairman

Contact:

Tel: +61 (0) 423 602 353

Email: karen@nwrcommunications.com.au

(C) 2020 Electronic News Publishing, source ENP Newswire