there might be an Rns tomorrow and then it could list tomorrow on nasdaq when FTSE is closed so that when ftse opens on tuesday assuming it went ok on monday listing it will be boom time on tuesday but uk investors cannot buy until tuesday , then it will boom , boom here up up and away !! maybe they will suspend trading and then bring it back on at 140p
Completely agree on not knowing the mandate of those managing the affairs of the estate. All that is clear is that there is a persistent seller regardless of how low this goes - and given the 52 week low ask was 3p, nobody could be selling of late at a profit, so its easy to summise its the estate. It may not be. But this is savagely oversold, and anyone with a hint of market insight, you would think would be inclined to let it recover and sell at higher prices. 2.875 has been superb support all year, and buyers are still stepping in to defend it - would very much hope to see that hold and bounce again.
No probs! Re the estate selling, without their cooperation, [I remember there is a loan /CL due to it ] so if they are selling some shares, they are doing it whilst considering the cos interests - plus they may have to dispose - we don't know the affiars of the estate
Of course, all this counts for little short term while there is the constant flow of 25/50/100k daily sells. Until the estate sellers realise it is them suppressing this price, and without their constant supply of stock they could be selling for a lot more, this will go nowhere. Regardless of value.
The easiest way to assess the AMP position is by its NAV. It makes me weep when I hear so often people say of AMP "but doesn't it have debt?"..that makes important to look at its net assets. The most recently published net asset value was on June 23, where the company stated:
"Net Asset Value per ordinary share in the Company ("Ordinary Shares") was 3.8 pence (US $0.055)* at Period-end"
* This was based on a forex rate of 1.4746. If we apply today's Cable rate of 1.32, that becomes: 4.17pence ** This was based on a MTFB price: "At the end of the year, the share price was 42.75 pence." MTFB is currently 49p (6.25p/15% higher). 6.25p on 43,248,291 shares is worth an extra £2.7m on the NAV.
Therefore, NAV in current dollar terms is 4.17p. There has been a 15% uplift in MTFB's price, but until recently that had been as high as 50%+. It owns (fully converted per MTFB's SEC filing) 35% of MTFB prior to IPO, and will be 25% after IPO.
Whilst additional debt has been assumed, this will initially be countered by the MTFB appreciation, and ultimately there will be news on the legal case that is draining the funds and facilitating the loan drawn downs. The final results stated that the case trial will begin in Q3 2016. Given a BOD of this calibre deemed this case to be worthy of such vast & critical funds, combined with the favourable rulings to date, you'd have to think the risk/rewards are favourable for a positive outcome. Corrections or criticisms to any of the above welcome.
Has anyone worked out net assets minus debts. Isnt that a truer reflection? I need to have a close look as i have been considering amp for a while. Looks like they were cash strapped and im not a fan of YAGM involvement.. But once motif value climbs this has too catch up.
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