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Cyclone Metals Limited (ASX:CLE)

ALERT: Price-sensitive ASX Announcement for CLE
Current share price for CLE : $0.049 -0.007 (-12.50%)+
Announcement
Release
23 Dec 2025 1:19PM
Price at Release
$0.056
Full Release
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Summary
The Takeovers Panel has received an application regarding Cyclone Metals Limited (ASX: CLE) from Mr Antony Sage, the founding director who was removed from the board following a resolution at a requisitioned general meeting. The application asserts that certain shareholders, allegedly associates acting in concert, sought his removal and held significant voting power. These associates allegedly traded shares around the time of the meeting and failed to disclose their association. Sage seeks orders for corrective disclosure, voting restrictions on shares acquired during specific periods, and a prohibition on further share acquisitions by these associates. A further general meeting is scheduled to address the potential removal of another director.
Key Points
  • Takeovers Panel receives application regarding Cyclone Metals Limited
  • Application submitted by Mr Antony Sage, former director
  • Alleged associates acted in concert with significant voting power
  • Shares traded without disclosing association
  • Sage seeks corrective disclosure and voting restrictions
  • Further general meeting scheduled to consider removal of another director
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.