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The only way to vote now is to get a letter from your broker to authorise you to attend the meeting and to vote by attending the meeting yourself!
The vote is on Wednesday this week so you only have today to ring your broker.
AGE
Normester AMC is selling shares in a subsidiary company that is owns.
The Company that is being sold owns the Kun-mane development.
We are not selling our AMC shares!
AGE
nickwindows.
Not 100% clear what you mean but, if by 'the money' you are referring to the $35 mill then I think you are wrong.
The distribution of the $35 mill to shareholders via special dividend at 1.8p is part of the resolution being voted on. So, if it is carried; it will happen.
How many times I have looked on this page since 2009. It's a real shame to see it end this way. Perhaps I will be more productive at work.
Although they can only stay as a cash shell 6 months, they can de-list and remain a private company and not return the money to share holders I believe . Correct me if I'm wrong.
Yes that's a fair point, was more trying to explain in leyman terms
Without looking at the most recent accounts, what is the asset value of KM on the balance sheet?
Who knows!??
Share price could go up from investors looking to make 1.8 per share in div, and then could drop on sale of greatest asset.
What the future holds after may be unknown or there is already a project in mind.
Let's hope there are a lot of investors happy with the div value and a share price of circa 9p
Gla
If the resolution is passed on Wednesday will the share price rise or stay very close to 1.8p?
The best analogy I could come up with is that you imagine the company as a garage with a single car housed in it (the asset). You sell the car and replace it with a pile of cash. You still have the garage but now with a pile of cash stored in the garage. The rules say you are. Not allow to do that for too long and you need to use the garage to store cars or bikes etc. if not you will have to demolish the garage and return the pieces to each of the owners.
Just a bit of fun lol.
JG,
I would not term the return of some residual value from the asset as “profit”.
The amount of money that investors have sunk into developing the asset is many multiples than we are getting back.
Make no mistake that the company are making a loss on this.
Russians can't even invent their own mottoes...
That is spot on TD2
I think some are getting confused here between an "asset" sale (which is what this is) and a sale of your shares.
The asset sale will generate "profits" and part of these profits will be paid to shareholders by way of a dividend. The shares remain in your hands until, as TD2 says, the company is de-listed from AIM.
If we find another project in the meantime, happy days, your shares will have some potential value depending on what this new venture is.
J
Watch for the FSB to take them out. Terrorists will be liquidated, Slavi Russia.
Amur doesn't have another asset after the sale of KM other than cash in the bank. Once they've disposed of KM they become a cash shell and have 6 months to acquire another physical asset before they will be obliged, under AIM rules, to delist. They said, in a recent RNS, that they would be looking to secure another project by means of a share issue and reverse take-over.
So, the resolution goes through, KM is sold and a 1.8p divi is paid. Post disposal and divi payment the company should then be worth the value of the remaining cash in the bank, approximately 0.5p. You will still have your Amur shares and there may or may not be life after KM depending on whether they can find another project or not.
That's how I see it but I stand to be corrected if any of that is wrong or if anybody has a different take.
TDT
Much appreciated Brookieboy so there is potential for another payment thanks for the update
In simple terms Amur Minerals is not changing as a company - it’s just selling the KM mine. The proceeds are then paid to Amur Minerals. The Directors of Amur Minerals have then committed to pay a special dividend of 1.8p per share to all shareholders. Just like any dividend, this does not impact the number of shares that you own. The company will still exist and has some other assets (worth about 0.5-1p per share).
Of course the KM mine is the main asset , so if sold the company may then be wound up (with a further payment to shareholders, in return for your shares) else invest in another mining type asset and keep going. There are rules and timeframes around this.
Hope this helps
Agneissearner- i read somewhere on this board that as well as the 1.8p per share we also keep the shares, is this correct as i thought it was our shares being purchased off us?
Not the intended target.
This indicates that there is an internal resistance movement, like a Claus von Stauffenberg.
Putler's paranoia will be off the scale. Watch for the retribution.
Amur Minerals is selling 100% of the shares that it owns in a Company that owns Kune Manie for 35m USD.
If the vote if approved and the sale completes then AMC is going to pay us 1.80p for each share that we own.
You therefore do not have to do anything apart from vote For the resolution if you agree with the deal.
AGE
Can someone tell me how the sale will happen , will my shares be sold automatically ???
Hi Tricky, your right Putin doesn't care, he will be taken down sooner or later, but i expect he would just be replaced by another idiot.
Good on you for trekking in the bad lands at that age, its very dangerous these days with an enemy who hasn't really been beaten and one that believes in holy wars, nice place for a sun tan lol
Hawk-i many thanks for that update as the email I got from ii says vote by the 18 August 2022 yet I received it on the 19 August 2022?
The circular for the deal says “If you hold your ordinary shares in uncertificated in CREST, you may vote using CREST proxy voting service in accordance with the procedures set out in the CREST manual. Proxies submitted via CREST must be received by Link Group (CREST ID RA 10) by no later than 10 am BST on 22 August.
As an alternative to completing the hard copy Form of Proxy, you can appoint a proxy electronically online at www.signalshares.com and completing the authentication requirements as set out on the Form of Proxy.
For an electronic proxy appointment to be valid, your appointment must be received by Link Group no later than 10:00 am BST on 22 August 2022.
AGE
I'm with ii and have voted today at 3:30pm over the phone. I was told it's not too late to vote and my vote was taken manually over the phone. if you haven't voted, you still can. Those with ii you can contact them on the following numbers:
Telephone from the UK: 0345 607 6001
Phoning from overseas: +44 113 346 2309
2.3781 pence on value of YES vote.