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I'm with Lloyds and was able to use their chat function to cast a no vote. Just had to give date and amount of resolutions on the day and how I would be voting.
I am with Halifax Sharedealing was able to cast a No vote on the online Sharedealing chat function only took a couple of minutes
I am with First Direct - just told them the date of the vote and that there was 1 resolution and I was a no; they said they would action for me. Think they needed 4 working days to process.
eryryss,
My Nephew phoned me the day they were 30p and said, "Have you sold?" and gave me all the reasons why. RSI etc. and do you know, had he of phoned me the day before, I was thinking of selling and I think I would have been convinced to do so. I even said to him why did he not phone yesterday. Seeing them fall that 10p, you know how it is but the day before they were 35p and i was so close to selling. Regarding the vote, I had to tell them it was an EGM. You have to ask to be signed up to receive notice of EGM/AGM. It's not like Corporate actions where you get these come to your account automatically.
Value 4. ,
Haha, yes that was it.
I too believed in RY and the company, so much so that I still hold didn’t even sell when it peaked that May Day at 40p as I believed the same as you.
I won’t forget and my wife will certainly not allow me to.
Yes , we have been and continue to be shafted.
RY must be close to 70 yrs now and even closer to retirement, that will be his priority.
Of concern, I contacted my bank, First Direct HSBC through which I bought AMC in 2014, to enquire regarding my right to vote, they had no knowledge of such a vote, ffs ( both hands over face emoji)
eryryss, just catching up with all the posts from today. You have a good memory. It was in London at one of the presentations about six or seven years ago. Food was very good I remember! :) That day I met RY and he introduced me to them two shareholders with my Nephew I really felt I had spoken to a guy who was going to be true to his word. He kept harping on about this world class asset that we had and so many would be after. I really believed and thought my money was safe. Why not, we had the 5th largest one in the world if my memory serves me correctly and all we had to do was see it through to a stage that it would then be sold off for a huge sum. That was always the plan! I was so shocked when I read on here the other day what was about to go down. Stitched up again I thought like with SXX and HGM to name a couple. Aim is so corrupt! I have my shares via II, Iweb and Charles Stanley Direct. I phoned them all up as I panicked when someone on here said I only had until the 19th to cast my vote. II, I had to do by a secure message but the other two accepted it over the phone.
Hi ShadowLess - I think that a 'cash shell' can stay on AIM for some six months afterwards. The risk, though, is that they invest in or buy something / anything, just to stay listed on it. Shades of 'Here we go again...' spring to mind, so it's a 'No' from me - sasa.
Well since announcing this deal Ry and the board have successfully crushed AMC’s value even further. Hard to find a better example of company destruction relative to asset value. And they want us to go again with them??
I would be right behind you TDT with my spoon!!!
I guess what I was trying to say is if any deal negotiated requires a staged payment plan longer than 6 months, to continue on AIM for the duration of the payment plan they will need to invest in 'something'!! otherwise, they will be delisted, which is a situation shareholders do not want to be in.
They would not need shareholder approval fyi if they are private.
If you can find a buyer then that would be on your terms.
The fact this TEO is not being released hypothetically means that RY is not in control here unfortunately.
All they would need to do if they were going to go Private is get the NOMAD to resign somehow, then the conduit to market is skewed.
Before they can do anything like that they'd need shareholder approval and that, given the current mood, is not going to happen. If they did try that sort of stunt I'd be the first in line with my sharpened pitch fork.
TDT
Thanks, erazzel
trading such shares are more problematic I assume.
In effect the company can go Private and then create some B shares and just pay those and forget about the PI's.
Hello Sasa and anyone else for that matter
I guess one of the reasons for AMC Mark 2 with new assets is to keep its listing on AIM? A cash shell is not possible if AMC wants to remain listed?
If one believes that an upfront payment is a negotiable possibility then all the money should go to the shareholders.
If on the other hand some form of staggered payment is required, and if it is stretched out to say 1,2... 4 years what happens to me as a shareholder if AMC has no asset, becomes a cash shell and is delisted on AIM? what happens to my dividends then?
Having difficulty today getting my thoughts together, so if it does not make sense ignore it!!
When voted no, which is probably going to happen. They will have to change the deal due the 2nd bidder coming forward.
Sorry to hear about such a loss Isphahan; though im sure it's little consolation you're in company here with others who have sizeable ongoing losses as well. I agree that we will struggle to take the project much further. However on the face of it, the market is valuing the transaction at exactly the upfront payment of $15m, which quite coincidentally equates to around a penny a share - a level almost it seems deliberately designed to ensure that every single holder is underwater and is somewhat incentivised to hold such that RY and the BOD can sally on into the sunset to find a new asset and bring it to fruition. The cynic in me sees this for exactly what it is.
I can only think of the actual sale price of this transaction equating to $15m. I would behoove every other holder here to see it in this light - not the $105m staggered, personally guaranteed payment structure.
All the best
CBS
Thanks TD.
I bought them through First Direct bank many years ago..I’ll speak to them..
eryryss
Depends on who you hold your shares with. If its Interactive Investor than you can find a proxy voting form on their web site. If you hold thought somebody else then put the name up here, I'm sure somebody will be able to help.
TDT
Value 4,
I indeed remember you reporting on your meeting with RY some 6 or so years ago in London, if my memory serves me.
We were all so elated at the time and the general feeling then was that RY was the dogs Bo......s, how things have changed.
I agree entirely with your posts of today.
Quick question how do I register my vote, cant find anything on their website.
Hi Isphahan - all very cogent points with the current state of affairs, granted.
However, the issue is more to do with the minimal offer being voted upon and, more particularly, the staged payments 'risks' for us shareholders in Stanmix just buying AMC's subsidiary, Irosta, which happens to hold their very valuable mining licence looking further out.
Had the offer been for the Co. itself, all in cash and upfront from such an unlisted entity, that money would have been paid out to all the long suffering shareholders as some compensation - as it is, it's supposedly to fund Amur Mk 2 - looking for something else to spend the proceeds on - not an enticing prospect for me, anyway - sasa.
Well Isphahan....That has certainly been an expensive lesson on Russian investment for you to learn from and live with.....
I expect the BOD will be able to prove they have acted in all shareholders best interests....as the alternative is £ZERO back.
So therefore any talk of class action is futile even if they have held back the TEO valuation....if it was to be released to us to show the value is $1trl....or priceless...but you can only get $20m now......then it's only worth the $20m...to start someit new!......with the outside hope of the £64m or whatever coming in over 4years!!
GLA
Indeed this is a very valuable asset underground but who will buy these minerals? The new investor will have to spend vast sums of money to extract it, build roads to move it and find a market under a sanctions regime. Of course the purchase offer is pathetic but think about it what other/better options are there if there is no market to offload the product to. It is obvious that the buyer has stretched the payment to reach a post Putin era where hopefully life returns to normal and sanctions can be lifted. Can Amur itself wait out this period? Of course our initial response would be to reject this offer but the dilemma Amur is in, is very complicated. It will not attract funds to take the project further and its demise would be a certainty. As a LTS of 14 years l stand to lose £400k
Wand, I hope you're right! Going by this board, it does not give me any faith at all!!!
Yep! Lost out big time there also!!!