I believe that they would have had to inform the Market of any talks regarding such deals; just as they recently had to inform the Market that the company was looking into an accounting/legal anomoly. Companies often ask for dealing in their shares to bee suspended whilst such discussions take place, thus to avoid speculative moves founded on rumour. There is usually an RNS to give a reason for such requested suspension.
Hi , how is it going with the EGM list and what is Stuee on about. Thank you for all your efforts on this
Stuee states that you have "galvanised the noisy few and bashers on lse in particular". Later he changes this to Bashers and a few investors ! Hm !
In fact I believe what we are doing is collecting a list of names such that
1) if we do not get an AGM (which I suspect we will ) then we need to be readied , and/or ....
2) if we do get an AGM but it is highly unsatisfactory in terms of questions answered etc , then we are readied
There is a Post on iii that says we will get an AGM and I suspect that is right but let us see it (RNS) and let us see what comes of it. We are entitled to take this route (EGM) . Imagine if we were not pepared and then it was too late ? Somehow I think those that are deterring the action would not be popular.
In the meantime AB and Co. can get on with it but he needs to steady the ship at the AGM as far as I am concerned this is my view. We need a drains up so no-one should be SCARED of an EGM if that is what is required and no-one should be SCARED out of one either
Quick answer as I'm watching Only Connect at the mo. To do business in zambia, you need a zambian registered company, hence epl. As with all subsidiaries and holding companies, it does open up various permutations for disposal, as you say.
I honestly don't know what to expect, with the exception of infinite opinions positive and negative.
One positive of all this is everyone got found out as nobody saw MA leaving, though one poster did suggest suspension was likely.
They say the market always knows and normally when bad news is on the way, in my limited experience, and it is limited, SP's normally go up prior when the news is going to be bad. Is it the opposite when it's going to be good?
Having experienced being a holder in a couple of other companies which reached a similar situation to that in which BMR finds itself, I find myself asking the following:- 1/ The company has spent years, and a whole lot of (shareholders') money, seeking and obtaining the ownership of the tailings dumps at Kabwe. It has then spent yet more in obtaining permission to process and market the metals. A monster of an asset, but does the company hold the rights to this asset directly, or through a subsidiary? - - - answer - a subsidiary called EPL (a limited liability company). 2/ If so, then is this a wholly-owned subsidiary? - - - answer: Yes. 3/ If it is a wholly-owned subsidiary, then why have a subsidiary? - - I don't know this, but perhaps the answer is in the "limited liability". Perhaps there is good reason to work through a subsidiary company. Would someone who knows care to explain - - - - 4/ If it is not a wholly-owned subsidiary, then who owns the rest of it? (not relevant here, but it often is with other holding companies). The reason I ask is that other companies, when they have nearly run out of cash, have sold their subsidiaries in order to survive. Along with those subsidiaries, went the mineral (or other type of) rights. Some of those main companies have then retained a small portion of the rights through terms of the sale. AFE (I think) was one such example. Is it likely that BMR might go down this route? What other options are there*? I know that I am risking flak from some by posting this but, if it is not out there for discussion then I/we might not learn from such discussion. *A farm-in with a suitable well-funded partner would seem a good option. The Chinese, perhaps. *A total buy-out of BMR (take-over) would seem to be (for us) a poor option right now, since even a moderate premium on the current sp would leave so may of us still with a loss.
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