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Might be worth a search of say AIM listed Pharma companies with a market cap of less than £4m that meet the criteria specified in the RNS.
Brookieby69 you would have thought the Board would have sought shareholders thoughts on whether they should squander shareholders cash on an RTO or they should pay a second special dividend as stated in one of the RNS's .
I will wait and see what the RTO admission document says and then make a decision on whether to vote in favour of the RTO or against.
After so many of buying AIM shares I have yet to see an AIM Company where the Board have acted in shareholders best interests!
The RTO is some what of done deal as far as the Board are concerned as they have spent shareholders cash on expensive lawyers and accountants and other consultants to do the due diligence and produce the RTO documentation which has to have cost in the region of £200k to £250k.
A good friend of mine who works in investment banking in the City of London is going to go through the RTO document with a fine tooth comb with me to identify the benefits that the Board of AMC and the Private Ltd Company are going to receive from the RTO e.g LTIP's, Executive share options with very generous exercise prices etc etc etc!
If I should hazard a guess the Board of AMC will increase AMC's shares in issue from 1.392 billion to at least double that amount and then use those additional shares to acquire the shares of the private Ltd company.
There will then be double the amount of AMC shares and so the remaining cash in AMC has to be spread over twice as many shares so the AMC shareholders before the RTO takes place will see their share of the cash in AMC reduced by 50% .
A novel cancer drug delivery company will have intangible assets on its balance which we will acquire in exchange for agreeing to dilute our cash per share by 50%.
Now that is what you call "Magic" as Paul Daniels used to say!
I would be interested to hear what other AMC shareholders have to say in case my understanding is not correct.
By the way the Board have still not provided tax guidance re the tax implications of their decision to pay the 1.80 pence special dividend!
AGE
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Based on today's announcement, guestimated cash as at now is £3.8m/£3m - so about 0.2p per share (perhaps shareholders would see 0.15p after costs),
OR, vote for the RTO and become a pharma company? The Board should put this to a vote urgently.
People have asked them to do that loads and nothing. You have to force them to do it and it's not easy. If it was simple I'd of done it 8 months ago. Maybe they'll add it to the rto vote, but it doesn't look likely.
At least there a new time frame now. Sometime in May. Which obviously means early June.
As for returns, I'd take 0.1p now, to be honest.
Personally I feel it's closer to 0.24p and net of costs at that.........I'd be happy to cash in at that if given the chance to be able to....and move on!
Based on today's announcement, guestimated cash as at now is £3.8m/£3m - so about 0.2p per share (perhaps shareholders would see 0.15p after costs),
OR, vote for the RTO and become a pharma company? The Board should put this to a vote urgently.
Ilovesushi good to see our shareholders share action group got a mention in an article by Tom Winnifrith (the sheriff) in Share Prophets!
I received my special dividend from AMC on 14 June 2023 so in just another 5 days it will be 11 months since AMC shareholders received their dividends.
How much longer are AMC shareholders going to have to wait until Robin Young issues an RNS re the RTO?
AGE
Tom Winnifreth gives AMC a mention in his periodical. Looks like we are making some waves. The board is now aware of our shareholder club. Onwards and upwards.
I do not want this drug delivery technology RTO. I want a return of Capital as I Know where this new venture will lead. MORE PLACINGS.
There are now 53 members in the group with a combined shareholding of 118,010,770 shares which represents 8.4725% of the AMC shares in issue.
AGE
Not surprised. How much longer can the larger shareholders around here give them, before they realise they need the shareholder group to get to 30%. Either that or send in a winding up order (I think you need to have a decent holding to do that with BVI). I would give them a little longer now it's gone this far, but it's getting so ridiculous.
Yet another day goes by and yet no RNS from Robin Young re the RTO!
He is paid 835 USD per day!
AGE
For those AMC shareholders who read the LSE AMC board but they have not joined the group yet then you are welcome to do so.
As the saying goes "There is strength in numbers!"
Let's try and hit the Groups next target which is to have a combined holding of 200 m shares!
Please email me via gneissifyoucangetit@gmail.com
AGE
For those AMC shareholders who read the LSE AMC board but they have not joined the group yet then please do so.
AGE
Correction:
For those AMC shareholders who read the LSE SCIR board but they have joined the group yet then please do so.
AGE
Thank you LL Bantam.
Please email me via gneissifyoucangetit@gail.com
For those AMC shareholders who read the LSE SCIR Board but have not yet joined the group then please do so.
If you want to see a Shareholders Share Action Group in action then read the recent RNS's and posts on the LSE Scirocco Energy PLC board (SCIR).
Thanks to the kind support of GP Jersey the largest shareholder our shareholders share action group comprised of 120 members achieved votes by poll of 80.19% for the Directors to put in place a strategy to return cash to shareholders via a members voluntary liquidation and then today we achieved votes by poll of 94.60% and 94.20% to delist the company and turn it into a private Ltd company.
The Board of SCIR have been taught a valuable lesson and that is to make sure that they listen to shareholders legitimate concerns and that they take the appropriate action as shareholders will up the anti if you continue with poor shareholder engagement and you do not produce shareholder value while continuing to receive a level of remuneration based on the basis you are!
Details in SCIR's RNS
Consequently, the last day of dealings in the Company's Ordinary Shares on AIM will be 16 May 2024 and the Cancellation will take effect at 7.00 a.m. on 17 May 2024.
MVL Next steps
As set out in the Circular published on 23 February 2024 (the "Circular"), the process of returning cash to Shareholders is highly likely to be implemented via a members' voluntary liquidation ("MVL"), which will involve a further general meeting being called by the Company in c. 2 months' time to seek approval from Shareholders to appoint liquidators. Existing and prospective investors are encouraged to read the Circular for more information on the MVL process.
AGE
Hi
I haven't really been following this one for quite a while, without checking precisely I'm down to about 500,000 shares which i'm happy to have included in the group action. I'll check this evening and confirm the exact number.
The question is how do you get them to do anything other than the rto? I wish we were in the same position as TGR. Just 5% needed to call a meeting and that's got the board there very worried. Actually quite funny to see their response. Suddenly they care! It's what we need here, but how do you get 30%. Is that the only way to call a meeting?
There are now 44 members in the group with a combined shareholding of 116,992,110 shares which represents 8.184% of the AMC shares in issue.
We have comfortably exceeded our first target of 100m shares so next target is 200m and then 300m with the eventual aim of hitting a 30% holding.
I wonder who will achieve their target first will it be our group or will it be the Board of AMC who will finally manage to issue an RNS and documentation re the RTO with the novel cancer drug delivery system.
I repeat what I have written before if it was such a great opportunity then why has a large pharma company not purchased that company, why have they waited for the Board of AMC to squander shareholders remaining cash on the expensive work that is involved in producing the RTO documentation!
A school friend of mine who works in Corporate Finance in the City of London will be going through the RTO document with me with a fine tooth comb!
If you want to hold the AMC Board to account then keep the momentum going by joining the shareholders share action group that was formed for the benefit of all shareholders as well as sharing our knowledge.
AGE
There are now 43 members in the group with a combined shareholding of 100,992,110 shares which represents 7.2506% of the AMC shares in issue.
We have finally hit our first target of 100m shares!
If you want to hold the AMC Board to account then keep the momentum going by joining the shareholders share action group that was formed for the benefit of all shareholders as well as sharing our knowledge.
AGE
Hi matteyo send me an email via gneissifyoucangetit@gmail.com letting me know how many shares you hold and if they are in an ISA or not
AGE
Evening All,
I’ve been a shareholder here for a while, like most trying to make the best form a difficult market, but watching what’s been going on not only here but in a number of stocks. Happy to join the group to support everyone in getting some resolve. I’ve written this one off tbf but appreciate it’s hit others hard.
EIDR there are 42 people in the group so difficult to remember all of them with out referring to my the spreadsheet and not every one lets me know what their LSE posting name is.
AGE
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I was one of the first to join. 🙂
Guygabois going out for the sandwiches is an important job as no one likes the wrong sandwiches.
All joking aside that was an excellent email that Crazytowner sent to the NOMAD and AMC.
AGE
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Lead the group? I wouldn't send him out for the sandwiches...
I was one of the first to join. 🙂
Lead the group? I wouldn't send him out for the sandwiches...
Crazytowner did you receive a response to your email from either the NOMAD or someone from AMC ?
I bet not!
You did not respond to my message about you joining the group and being the leader if you so wish as you have a 2% holding.
AIM Boards work on the basis that shareholders lose interest in their shares if the Board strings things out for as long as possible!
AIM Boards CEO's modus operandi is to talk the talk all perfectly legally within the rules as they hire expensive advisors to advise them on how to do so.
They carry out a number of highly dillutive share placings at lower and lower prices and then carry out a 1 for a 100 share consolidation and then keep repeating the process all over again.
They may also throw in a change in the Company's name for good measure!
Then the highly paid CEO's have the cheek to tell the shareholders that they have to forget about the past which is very convenient for a CEO who has a track record of failing to produce any value for shareholders but just continues to line his own pockets as well as the other members of his mates on the Board!
AGE