Further to the announcement released 17 March 2020, Ardiden Limited (ASX: ADV) (Ardiden or the Company) advises that the sale of fully paid ordinary shares (Shares) pursuant to the Company's Unmarketable Parcel Sale Facility (UMP Facility) is now complete.

The UMP Facility applied to shareholders who as at 15 January 2020 (Record Date) were holders of shares in Ardiden with a market value of less than $500. As at the Record Date, the Company had approximately 1,732 shareholders that held a value of less than $500.

Ardiden is pleased to advise the completion of the sale of ADV shares was in accordance with the UMP Facility. The updated total of 47,349,156 shares were sold at an average sale price of $0.004 per share. The shareholders whose shares were sold through the UMP Facility shall receive $0.004 per share without having to pay brokerage or other costs.

Computershare will organise remittance of sale proceeds to those shareholders who participated in the UMP Facility. Shareholders whose shares were sold under the Facility will receive payment for their shares on or shortly after 17 June 2020.

The sale proceeds will be paid in Australian dollars by direct credit to the relevant recipients. Non-resident holders or those holders who have not provided their direct credit details will be paid in Australian dollars by cheque.

Ardiden confirms its shareholder base has now reduced by 41.42% to approximately 1,834 holders. Authorised for release by Rob Longley, Managing Director & CEO and Neil Hackett, Non-Executive Chairman.

Contact:

Rob Longley

Tel: +61 8 9322 7600

Email: info@ardiden.com.au

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