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If the shareholders reject this offer this is dropping below 0.5p - probably why people selling. We need to just accept this offer. We have put up a good fight but unfortunately the assets in Russia and we are screwed. The bastards made us spend our money proving up the resources and they are now going to come in and make billions.
Agreed Shadow … but the cost of the ‘deal’ will eat into lots of that.
I’m working on a worst case of 1.8pps and best case 2.0pps.
Big % uplift from current SP.
opps not £25,074,000m, haha I wish £25m
From Sale: $35m = £29m (exchange rate of 0.82)
In Bank: £5m (Money in the bank already)
Total Cash = £34m in the bank (this equates to 0,024pps)
0.018pps distributed to all shareholders = £25,074,000m
This leaves £9m to invest (or 0.006pps), what could they invest in with £9m?
For me, the deal has to be taken now
Yes but only $10m on completion the other isn't guranteed, what if the buyer goes bankrupt, or Russian Govt takes the licence?
Also need to factor in time value of money what is $105m today isnt that in the future need to discount it down
This offer at least allows closure for people. We take a loss and move on. The original offer was just maintaining the lifestyle of our BOD with staged payments , with a depressed share. Someone will make a fortune but sadly not us.
Even if there was no war I think this useless Bod would have found some other way to screw us.
Those saying this is a bad offer need to look at the detail and not the headline figure.
Sorry to be a bit grumpy but have been in this share for 3 years and just glad I'm getting out with my initial stake.
The useless BoD have spent all that money on salaries and delivered feck all.
Didn't there exist a compensation clause in the exploration contract to re-imburse all expenditures equating to 140% of costs incurred?
Anybody fancy a legal fight with the Russian Federation over this ? :-)
I don’t understand why folk are selling at 1.3ish when there is a nailed on return of 1.8p…
What is stopping the buyer hovering up at these prices to reduce their actual purchase price by a few %
Russian buyer…. Russian regulator signing it off, backing of BoD
Absolutely no other option than to reject and wait say 10yrs….no chance.
Done deal. 1.8p in the bag plus a chance of whatever is left, maybe a fraction of a penny per share
Well Gazzleberry, it was us shareholders that voted against the original offer!!!! AND we now have another offer to accept or reject. We are rapidly running out of time to extract any value from AMC at all.
Only 1.8 is a firm price and that is only based on us accepting the deal.
There may be a second payment I believe if the company is wound up as it could not find a reverse take-over. We have no idea what that amount could be. I would take a guess it could be about 0.2 pence. Not above and maybe less.
If we find a reverse take-over we could issue shares for cash, and you still have a company that could survive and grow and be worth more than 0.20 pence. Depends on what deal they do. Remember the company will issues shares and lots of then so the share price will crash after you get your 1.8 pence. Do not expect much. Perhaps a new bidder could come in when they see the low take-out price.
potential dividend, you will still need to be the beneficiary holder of the shares at the date, thereafter you have a live share price if still listed on exchange to trade at your discretion. Its a one off divi structured deal.
Could someone clarify my simple understanding or non understanding of this please. Does the RNS mean that we get 1.8p dividend per share plus 0.8p per share when sold or is it some other deal? Any clarity would be appreciated. Many thanks in advance.
...... After Completion of the Disposal, the Company will become a cash shell and will seek to complete a reverse takeover which will require Shareholder approval within 12 months. Should an acceptable reverse takeover opportunity not be identified and approved by the Shareholders, the remaining funds from the transaction less costs shall be distributed as a second special dividend.
Extarct from RNS
Correct. Providing the offer is acceptable to us very fickle Amur shareholders!! AND as I read it a carry interest in a new venture.
Wishful thinking Ilovesushi. If shareholders reject this offer, we will be holding Amur shares for ever and a day hoping that the Company is not "nationalised". I am very surprised a deal has even been constructed. As I read it we will get a special dividend of 1.8p per share AND still have a carry interest in a new AMC venture (but not in Russia).
I’ll be voting no to this shafting
Yes, this becomes a cash shell. It would then seek a reverse take-over. share value of anywhere between 0.2 is my assumption. Not sure how much cash we have left so hard to say.
A counter bid is my guess and or a slight increase or sweetened deal to get it through. 2.0 is my estimate. Hang in there. 3.0p - 5.0p on a new bidder. Its a good asset.
No sign of another bidder. They probably would have appeared at the time of the first offer, surely?
Instead of $105m staggered in bits we now have an equally derisory offer of $35m cash up front.
I will lose 50% if this goes ahead but frankly I can't see an alternative while the war and sanctions continue.
It's my fault for getting into this share without investigating enough beforehand - lesson learned!
One other point - isn't this really the only asset the company holds? Please could someone confirm? If it is, then although we will still hold shares wouldn't the company become a cash shell under the AIM rules? If that's right then they either have to buy an asset or find and allow a reverse takeover, otherwise they have to wind up after something like 6 or 12 months. On wind-up we will not get anything as the company won't have any assets.
This is going higher and there will be another offer. Easy to get them to sweeten it. obviously they want the asset as they have come back from the last rejection. Buy
Ditto.
I was against the structure of the prior offer, but I strongly think that this is it.
As people have already said, there's the 1.8p payout, and any residual value in the remainder (some cash, etc e.g. I'm not sure there will be any tax benefit of the many millions of prior year losses for a BVI company, but there could be something).
So although I will have lost out massively on this deal, I think this will go through and is better than nothing.
Good luck all.
nm
The 1.8p payment doesn't represent everything, they will still have circa £8-10M so NAV will be nearer 2.4p
Although my first thought was most would sell, on reflection those who are underwater have been given a chance to average down. The SP may even go above 1.8p leading up to completion as after the payment there will still be residual value of cira 0.5p.
Accepting the first offer would have been better for the SP, lets hope the same people don't reject this one.
You will get 1.8 Pence on a Capital Return plus still have shares that could be worth a fair bit on holding AMC. lets assume 0.2 pence. The deal could be worth 2.0 and there is a chance of a second bidder now. Damn he could always be forced to pay a lot more. This is NOT the final offer.
Russia under fire and infrastructure being obliterated? No. Sanctions, if the world needs a resource the buyers will get it from anyone. As usual something of value will end up in Russian hands at a knock down price. The $100m offer now looked very good. As regards buy,buy,buy who is likely to sell, sell,sell.