---
title: "Takeovers Panel Probed as Cyclone Metals’ Founding Director Challenges Boardroom Power Play"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/270562127.md"
description: "Cyclone Metals Ltd's founding director, Antony Sage, has applied to the Takeovers Panel after being removed from the board. Sage claims certain shareholders acted in concert to alter the board, holding over 20% voting power without proper disclosure. He seeks corrective disclosure and voting restrictions. A new meeting is set for January 2026 to address ongoing governance issues. The stock is rated Hold with a A$0.06 target."
datetime: "2025-12-23T02:48:23.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/270562127.md)
  - [en](https://longbridge.com/en/news/270562127.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/270562127.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/270562127.md) | [English](https://longbridge.com/en/news/270562127.md)


# Takeovers Panel Probed as Cyclone Metals’ Founding Director Challenges Boardroom Power Play

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Cyclone Metals Ltd ( (AU:CLE) ) has issued an announcement.

The Takeovers Panel has received an application from Cyclone Metals’ founding director, Antony Sage, following his removal from the board at an October 2025 shareholder-requisitioned general meeting. Sage alleges that a group of requisitioning and other shareholders are associates who acted in concert to change Cyclone’s board composition, held more than 20% voting power at the time of the meeting, traded in Cyclone shares around key boardroom contests, and failed to properly disclose their associations to the market. He is seeking final orders compelling corrective disclosure, imposing a 12‑month voting restriction on shares acquired during the alleged trading periods, and preventing further share acquisitions by the alleged associates for 12 months. In response to a new section 249D notice lodged by Sage and related parties, Cyclone has convened another general meeting for 27 January 2026 to vote on the proposed removal of current director Paul Berend, underscoring continuing boardroom instability and governance tensions at the company.

The most recent analyst rating on (AU:CLE) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Cyclone Metals Ltd stock, see the AU:CLE Stock Forecast page.

**More about Cyclone Metals Ltd**

Cyclone Metals Limited (ASX: CLE) is an Australian-listed company operating in the resources sector, with its shares traded on the ASX and its governance subject to the Corporations Act and oversight by the Takeovers Panel.

**Average Trading Volume:** 2,954,318

**Technical Sentiment Signal:** Strong Sell

**Current Market Cap:** A$60.83M

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