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maestro1
You might not be familiar with the sentiment behind the word "hopefully" but I'm fairly certain that "sure" isn't it.
TDT
Agreed TDT,
Imagine if the results went the other way, which is very possible with such a low turnout, like you have stated!!!
TDT
What makes you sure before christmas it would be done?
No updates been given and its been a month since last update..
I think the best thing that should happen is that funds are returned to shareholders and company closes.
Pointless leaving 10m behind to buy asset.
24,892,720 or 1.8% of the shares in issue voted. Seems like 98.2% couldn't be arzed. Those who could be bothered have seen fit to pass all 5 resolutions which, given current circumstances, is IMO the best possible outcome. It's now up to Robin Young to close the deal that's currently on the table which, hopefully, will be done before Christmas.
TDT
TDT
Gazzleberry, surely another update would suffice.
"All resolutions were duly passed......"
TDT
Someones done a rollover..
No update from young, he needs to let us know if a new bank has been found.
Anyone gone to agm?
It commenced at 10am.
As soon as the deal was announce RY said the hurdle was getting it approved from Russia authority, that was done with ease.
Western companies having difficulties getting paid from russian parties, i dont understand why west are punishing own companies.
Im sure this should all be sorted out soon. Its been over 4 weeks since money should have been in amc bank. Shareholders should give him hell at the agm tomorrow, he should really step down for this screw up..
Svidlov wants it for sure but originally he wanted to buy it over a few years so maybe he’s happy to delay whilst RY scrambles shot trying to think of a way to shaft his share holders!
Julian
I dont think Svidlov will pull out, he is gettin an asset worth over 130m for 35m, he will be eager to get this through.
What im annoyed at is that the company was aware of the sanction and getting money out prior why wasnt this thought through before.
Shadowless and anyone else going to AGM.
Can't make it but if I could I would like to know:
1 Have they found a Bank and if they have how much longer do they think the due diligence process will take?
2 If they have not where can I find the legislation re bank transfers from a Russian bank.I have looked online at the Government publication entitled Russian Sanctions Guidance and can't see anything there.
3 If all is well and completion likely to take place soon will we still have to wait up to 3 months for the dividend.As they have had had many weeks to decide how best to deal with the dividend issue I would like to think that by now they know exactly how it will be tackled so that our waiting time will be much reduced.Also when do they anticipate that the shares will go ex div.Will it be immediately after the sale is concluded or at a later date? I would have thought that from an administrative point of view the sooner the better ,so that they know at the earliest point the identities of all shareholders and their holdings,most of which information will have to be provided by Hargreaves Lansdown etc
4 What progress ( if any) have they made re a reverse takeover?
Fingers crossed it goes well although I fear the opposite.
Edit: western companies
Why are western economies making it difficult for western countries to remove cash from russia?
I thought thats what they wanted? Russian govt agrees to disposal, svidlov wants to buy, amc shareholders want to sell..
Such mockery, RY said the target date to get cash was 1st Nov but we are in Dec, if he cant get this through he needs to step down.
https://www.telegraph.co.uk/business/2022/11/08/ex-pwc-partners-form-company-cyprus-russia-linked-clients/
Bering and Amc are both registered in cyprus would be silly not usin Kiteserve.
Well maybe amv can use kiteserve service, they too are incorporated in cyprus.
https://kite-serve.com/
1.15 - 1.50 +8.6%... MMs fishing ??
Thanks ShadowLess,have a super time;)))
MD
The question is will the transfer be authorised during the Ukraine War. If the answer is no, then it could be stats quo for some years to come.
MD
I am planning to go, although waiting for HL to send me what I need to attend, will report as requested.
Anyone still expecting this sale to happen? Or is RY working hard to find a way of making sure pis walk away with nothing?
So is anyone intending to go next week ? Would be interesting to have a demeanour report.
MD
Sorry. I "remember the" Got a sticky keyboard atm.
I remeber that days when RY was regarded as an example of how a good CEO should behave!! How have the mighty fallen.