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Sadly it would seem that the deed is already done
MD
MD I was aware that the first letters combine to make a well known word!
There is a different vulgar word with the same meaning and the purpose of the group is to ensure we do not end up like it which has happened to a large number of AIM shareholders!
AGE
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Perhaps a rethink on the name,rather that the constant speculation is in order
Share
Holder
Action
Group
MD
Second weekly update on the Shareholders Share Action Group
There are now 12 members with a combined holding of 35,714,793 shares so an average holding of 2,976,233 shares per person.
I am grateful to the AMC shareholders who have contacted me.
If anyone else wants to join then contact me using gneissifyoucangetit@gmail.com
AGE
Perhaps a rethink on the name,rather that the constant speculation is in order Share
Holder
Action
Group
MD
Interesting RNS issued for CPX today which is currently down 81.80% for the day.
It always amazes me that some Boards of AIM Companies make comments such as those shown below which are in today's RNS:
CAP-XX, a world leader in the design and manufacture of supercapacitors and energy management systems, provides the following update in relation to its working capital position.
The key words are "World leader!"
They then follow that up with the following statement which includes the key words "The Board would have no option but to place the Company into administration"
"There is no guarantee that an equity financing will be achievable and, in the absence of any additional financing being available, the Board would have to take steps to preserve and maximise value for its creditors and should the Company fail to achieve a solution in the short term, the Board would have no option but to place the Company into administration. In this eventuality, it is not known how much, if any, value would be returned to shareholders."
You just have to love the AIM Market as some CEO's make statements and comments that bare no resemblance to reality!
Let's see what the CEO of AMC has to say about this great RTO!
AGE
If any one else is interested in joining an AMC Shareholders Share Action Group then send me an email and let me know how many shares you own as I have created a spreadsheet that contains existing members email addresses and their share holdings.
Contact me via gneissifyoucangetit@gmail.com
I will keep you updated at the end of each week and let you know the total amount of shares members own.
I will not share members email addresses with anyone else and when communicating with members I will send the email to myself and then blind copy all of you so you will only see my email address and no one else.
Current members own 30,498,983 shares so we are 30.499% of the way to getting a combined holding of 100m and after that we will aim for 200m and more!
AGE
Theo
A well negotiated rto will convert the cash intomuch higher value if all goes right, The shareholders will take the risk. At the start of trading you can sell if you want. Its probably a very good idea of age to form a group in case the boards interest is not aligned with shareholders in the deal. Before a decision we need the detail.
With cash return you may lose up to 40pc in tax on your CAPITAL LOSS depending what words they use for the capital return and be unable to reclaim losses by setting against and have to negotiate the detail with hmrc.
Age.. Nice podcast, Ill subscribe to it, Thankyou.
In process of getting quotes for annuity, considering you lose your capital the rates aren't good. I am told they buy 15 yr guilts to fund an annuity. I wonder how risky drawdown would be ..I am well aware how you can lose not gain on even huge divi shares... vod 230 to 80. Woodford. etc.
How much money does AMC have?
Will an RTO completely devalue our shares?
Agneissearner
I definitely see the importance of a shareholder club of AMC. First to force an GM and to immediately put forth a requisition and resolution to vote down this RTO. Or either get prepared to vote no when the management calls for a vote. Either way. It would be a no for me. A vote for a full return of Capital while there is cash left.
Add 5,000,000 to the vote no campaign.
Do shareholder really want this management to continue the gravy train and in time do more dilutions? Surely it is a vote for the return of capital to shareholders. Nothing less. Shareholders got to unite.
Thank you Agneissener for organising this.
Gwm121,
I watch an interesting Youtube channel every week and it is called Portfolio Matters and the two guys who present the video review important economic events in the US/EU/China/UK as well as the commodities market/precious metals market/oil market and various different stock markets.
They also produce a graph that shows the movement in the price of Uranium which has risen a lot in the last 3 to 6 months or so.
The fundamentals for Uranium are well supported by the need to fuel nuclear power stations but buying uranium ETF's or shares is all about timing and then riding the wave.
The graph shows Uranium has peaked for the time being and is retracing whether it will surge higher is million Dollar question!
Oxford Bio and the likes of Sareum, ValiRx clearly demonstrate that small early state drug development companies and drug delivery Company's are extremely risky and the share price is very volatile.
This presents an excellent opportunity for the CEO of an AIM Company to be involved in an RTO where AMC's shareholders cash can be used to fund the RTO Company's drug delivery technology while receiving large numbers of out of the money share options so that if the technology comes good then he makes millions but if it does not then AMC shareholders take all the risk and end up losing all their money.
Large Multinational Drug Companies such as Astra Zenneca and Glaxo etc have very deep pockets and can take the risk on cancer drug development but realistically how many small UK cancer drug development companies or drug delivery company's will come good?
AGE
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Age.. its possible that if amc see this thread they might take greater care with shareholders interests in order that rto doesn't get voted down. A good rto would be much better than "special div capital return"
nb I moved my nickel etf profit into urnp uranium etf in the summer, As there is a known shortfall. So far only 10pc up, are u in uranioum? Any thoughts? There has just been a new uranium miners etf created.
Anyone in oxford bio? A group of scientists created a non intrusive psa addon test.. told the market they done a trial 98pc accurate... 6 months later results show they sold very few. mmm amazing story and a board hugely experienced in their field and not capable of finance deals sales, jobs to familly,... sound familiar ?????
Gwm121,
The paragraph copied and pasted below from the RNS states that they entered into a HOT on 25 January 2024 so formation of our group happened after that so it is not going to influence the Board's decision to do an RTO with that particular Company.
"The Company entered into a heads of terms agreement ("HOT") to acquire a UK based candidate in the healthcare sector (the "Target") on 25 January 2024. The Target is a UK-based pharmaceutical company which has developed an innovative drug delivery technology to improve the clinical performance of cancer treatments for solid tumours through the local delivery of chemotherapy."
The fiduciary duties as a director reflect a relationship of trust and loyalty between yourself, the company, its members, and stakeholders. The expectation is that you will act in good faith, and in the best interests of the company.
Once the Board have issued more information re the RTO then shareholders will be able to judge if the Board have acted in good faith and in the best interests of the company or whether they have acted in their best interests by ensuring that the CEO keeps earning large amounts of money by being appointed to the Board of the RTO Company.
I expected the Board to ask shareholders to vote on whether the remaining cash sould be returned to shareholders via the payment of a second special dividend or whether the Board should persue an RTO.
I had not anticipated that they would have spent a lot of time and spent large sums of money looking for an RTO and and then letting shareholders know so that is is a fait accompli.
Having a large number of members in our Group allows us to challenge the Board on the level of remuneration that Robin Young is paid as the accounts for the year ended 31 December 2022 shows that he earned $316k.
Some AIM Shareholders attend Annual General Meetings and vote to approve the accounts but very few of them ask the CEO's probing questions such as how many hours a week do you work to earn $316k pa, what have you achieved during the year, have you managed to create shareholder wealth etc.
AGE
Age.. its possible that if amc see this thread they might take greater care with shareholders interests in order that rto doesn't get voted down. A good rto would be much better than "special div capital return"
nb I moved my nickel etf profit into urnp uranium etf in the summer, As there is a known shortfall. So far only 10pc up, are u in uranioum? Any thoughts? There has just been a new uranium miners etf created.
Anyone in oxford bio? A group of scientists created a non intrusive psa addon test.. told the market they done a trial 98pc accurate... 6 months later results show they sold very few. mmm amazing story and a board hugely experienced in their field and not capable of finance deals sales, jobs to familly,... sound familiar ?????
Per the Memorandum and Articles of Association the rules re voting are as follows:
At any meeting a resolution put to the vote of the meeting shall be decided on a show of hands by a simple majority unless a poll is (before or on the declaration of the result of the show of hands) demanded:
(a) by the Chairman; or
(b) by any member present in person or by proxy and holding not less than one tenth of the total voting shares issued by the Company and having the right to vote at the meeting.
51 Unless a poll be so demanded, a declaration by the Chairman that a resolution has, on a show of hands been carried, and an entry to that effect in the book containing the minutes of the proceedings of the Company, shall be sufficient evidence of the fact, without proof of the number or proportion of the votes recorded in favour of or against such
resolution.
52 If a poll is duly demanded it shall be taken in such manner as the Chairman directs, and the result of the poll shall be deemed to be the resolution of the meeting at which the poll was demanded. The demand for a poll may be withdrawn.
AGE
It is the end of the first week in creating an AMC Shareholders Share Action Group and 5 people have contacted me so far so there are 6 people in the group including me with a total shareholding of 25,771,987 which equates to an average shareholding of 4,295,331 per person.
Assuming the average continues to be 4,295,331 then we need just 24 members to meet the target of having just over 100m shares and 48 for 200m shares.
These are substantial shareholdings and as the majority of shareholders do not vote then it is possible to influence the results of voting on resolutions via a poll rather than a show of hands!
Going forward I will update you on the number of members and total shareholding at the end of each week.
Let's wait and see the details of the RTO so that we can individually decide what we want to do in terms of voting for it or against it but in the mean time let's increase the number of members so that we are prepared should we want to vote against the RTO or any other resolutions that we do not agree with.
AGE
David, Bitcoin is good. However, the challenge lies in determining the right time to sell. I won't write any more on this board as I believe it is bad luck. In fact, I would be much happier if the listing disappeared.
Aster, I'm surprised you still have 4.5 million here...lol.
Thank you Astar.
Now 5 in the group with 24,271,987
Lets get it to 100m then 200m and then the sky is the limit, well 1,392,872,315 actually as that is the total number of shares in issue.
The Board own shares and I have a feeling that they will not join our group as what AIM Board likes to be held to account by it's shareholders?
Well the answer is "None"!
AGE
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Age,
Count me in with my 4.5m shares
.
Age,
Count me in with my 4.5m shares
There are now 4 members in the group with a combined total of 19,771,987
I would not be surprised if we eventually hit a combined holding of between 100m to 200m!
AGE
We now have 4 in the Group with a combined holding of 19,771,987
I would not be surprised if we eventually hit 100m to 200m!
AGE
TheChessMaster thank your for your response.
I must congratulate you on your ability to be able to respond to my question and then side step the point at issue which is that the AMC Board did not provide their shareholders with guidance on the return of cash to the shareholders via the payment of a special dividend.
If you are thinking about a change of career then you have clearly demonstrated that you have the necessary skills to be able to work for a public relations firm!
AGE
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Aggneiessearner; I have no comments on the tax guidance issue, all my Amur shares were held in an ISA so the subject has no revelence or interest to me. Sorry I cannot be of any assistance in the matter.
Aggneiessearner; I have no comments on the tax guidance issue, all my Amur shares were held in an ISA so the subject has no revelence or interest to me. Sorry I cannot be of any assistance in the matter.
Age,
good idea to be fully prepared, however, will not be joining you until I hear more about the RTO.
There are now 3 of us including me in the AMC Shareholders Share Action Group and we own a total of 16,771,987.
Roll up roll up is there anyone else who wants to join us?
Power to the AMC shareholders!
AGE
Hi gwm121 thanks for that.
My email address is gneissifyoucangetit@gmail.com
If any one else is interested in joining an AMC Shareholders Share Action Group then send me an email and let me know how many shares you own and I will create a spreadsheet that contains members email addresses and their share holdings.
I will then let you all know the total amount of shares members own.
I will not share members email addresses with anyone else and when communicating with members I will send the email to myself and then blind copy all of you so you will only see my email address and no one else's.
AGE