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Ever Get the Feeling You've Been Conned? OK, 50% better than a boot in the chuckees, but I'm voting NO. Why do you think I should accept 25% of what was presented in the January RNS?
Astar,
I agree with your sentiment, the previous deal was a definite no, which I voted for without regrets, this one is different in so far be that we get some money upfront and then can decide to sell our shares to get rid of
these arse*holes that are parading as BoD at our expense.
Its yes for me, we are at the end.
Directors said if the deal is rejected there are no alternatives to take the project forward.
Look at syria, russia, usa and iran are still in their. Nato and ukraine have said we will not negotiate unless russia withdraws fully, this isnt gonna happen. So this conflict will last years.
Amc is small fish, for all russia can do is take the asset away from us, what will we do? Take them to arbitration, how will we fund that? Will they care?
I suggest the no voters read the rns it states that this is Svidlov final offer, no more. Stubborn ones hoping for a miracle will not happen, you will lose it all. If you are so damn in losing it then take offer and give to charity as least someone benefits.
Last time only 22% of voting rights voted, 75% of those voted no, alot of finally conceded this time this is last offer so i see it passing.
Read the rns, directors and lawyers and nomads would have verified the rns.
itasanyonesguess - get the facts right before you insult someone - makes you look like the polisher and them the polished!
The war has changed this to a distressed asset and distressing it is for us all with money here. It can be taken away if we do not push through this sale and receive this 'special' dividend of a mere 1.8p. But this is the end of the road unfortunately and a great disappointment for many who like me expected way more. Wars change everything. 50% down but I would rather have that than zero. Hobson's Choice really - no choice at all
AMCs exploration / mining licence was issued with a set of obligations . Yes , we probably can submit a Mining Plan for consideration and approval by the RF . But then what ? AMC cannot advance further than completing this cash wasteful paper exercise . We would legally lose the KM project Licence .
The economic landscape in Russia has changed- consider the Multi Nationals that have lost hundreds of millions in leaving Russia . We have unfortunately reached the end of the road ( that term will not be lost on LTH s )
I haven't got much in this so it's much easier for me to vote no than for those with a big investment to loose.
I just can't handle the thought of this bod walking away with their jobs intact after the pathetic way they have handled this.
I think the y would say anything if they could keep drawing the money and this deal (and the last) give them a nice earner going forward.
Wouldn't surprise me if they gave themselves a nice bonus for getting a deal for the shareholders.
Is this the last possible offer or is chancing another too big a risk for Robin and his lethargic friends ?
Of course the first offer was better, NAV would have been well north of 4p, this offer will only get NAV to 2.4p at best.
Why anyone thinks they will increase the current offer, beats me. After the stupidity of the last NO vote they came back with a LOWER offer, guess what happens if No wins again?
Answer: Either an even lower offer or NO offer!
$25m within the next 10 months and an $80m cash receiveable, yes, it was clearly a better deal than $35m in 3 months time
"The better offer was there, but shareholders turned it down"
Do you really think the previous off was better? $105m over 10+ years??????? Get real!
Both deals are not worth considering but with the current climate, at least with this one we get everything in the next 90 days.
I'm not certain if I should vote at all. I'm tired of this dog, and I want to get rid of it. Even though I assume that receiving 50% of my money back is a consolation prize, I'm not content. $35 million is insufficient, but you never know. We could get a different or better offer.
The better offer was there, but shareholders turned it down.
Under this offer the BOD take a loss on their shares, their options are worthless and the company will likely be wound up in the near future as well as they'll likely get voted out at the next AGM, they are not recommending it because there is something better coming along.
There is hope and then there is foolishnes
The money i will get back at 1.8 pm will it be life changing .. No
Is it fair value for fo 13 years of investment ...No
Will i be able to invest the money im getting back into the market and try my luck with another share..No ..to late, to many years have past by so on that basis i will vote No and hold out with the hope of a better offer
Didn't they say as much last time. ?
I think you should carefully read the line in the RNS where the board of directors are clearly stating this is the only chance to recover the sunk costs.
if this russian investor is truley done with this offer i would be suprised, its usually 3rd and final offer, never accept the first two...but if he does pull out, then anotthe rrussian entity will emerge more likley an asssociate or rival who will not bid against the current buyer t avoid internal issues in the russian buisness world its just not dome over there..anotther buyer will emerge with anoter offer or two, i say NO and atleast 75 million should be the price..
Voted NO today 3 million shares.