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realy ? o my
If its a separate subsidiary company, its sale would just be the sale of a company asset?
So why would that involve buying out amc shareholders?
Quite right Geng,hang on to those shares all holders.This is only the beginning if you stick with it.
That fat Lady hasn’t left home to go to the theatre yet!
MD
CBS,been out most of the day and just seen you post on ownership.As irosta is a wholly owned subsidiary of AMC.
Previously it sounded as if it was the other way round.That has eased my concern ad at least we will be able to vote on any proposed sale.
Thanks for your effort that seems to have been overlooked.
MD
AIM Rule Book 2019
Deferred Publication
"A facility for member firms to delay the publication of a trade for a period of time dependent on its size as set out in MiFID and reflected in the parameters."
https://www.handbook.fca.org.uk/techstandards/MIFID-MIFIR/2017/reg_del_2017_583_oj/chapter-iii/012.html?date=2021-01-01
TDT
Piscator, In theory, if they got enough shares they could vote through a sale at £1 !
Can't see if happening as too many shares are in private hands and many are very long term. Everyone just needs to hold onto their shares as they are skimming on the volatility.
Amateur day traders are getting 'rinsed' will be interesting to see what happens as we go through into Feb when all the leveraged positions and t2 - t10's have to either rollover or settle.
The late reported trades are very misleading as they are filled over many hours. I'm not sure what the rules are on the price given and what obligation there is on the report time but they are random.
I'll tell you what IS happening here and that there is clear evidence of a big fish accumulating here, as revealed in the late reported trades over the last few days, virtually all being large buys. It could be a hedge fund but more than likely it is the bidder imho buying up cheap stock(probbly through an intermediary) so (a) it will benefit from the rise in share price when the final bid is tabled (note that this benefit will reduce the net cost of its offer) and (b) it will secure it a decent percentage of the vote that will be required to ensure that the offer is accepted by shareholders. The ongoing effect of this accumulation will be to reduce the free float and hence the liquidity of the stock. Thus the share price should start rising exponentially as long as nobody feeds them with cheap stock. Some seem to get flushed out by the market makers' tactic of delaying the reporting of these large buys but would be wise to look closely at the trades which are reported after the close imo.
I echo everything said by Sycho.
Leading expert refused to give opinion shocker!
Right but there would be no need to do share transfers, but maybe it's just some arcane offshore accounting stuff:
https://opencorporates.com/companies/cy/HE141841
they do own it:
"Amur Minerals Corporation is incorporated under the British Virgin Islands Business Companies Act 2004. The registered office is Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands.
The Company and its subsidiaries ("Group") locates, evaluates, acquires, explores and develops mineral properties and projects in the Russian Far East.
The Company is the 100% owner of Irosta Trading Limited ("Irosta"), an investment holding company incorporated and registered in Cyprus. Irosta holds 100% of the shares in ZAO Kun-Manie ("Kun-Manie"), an exploration and mining company incorporated and registered in Russia, which holds the Group's mineral licences."
https://www.investegate.co.uk/amur-minerals-corp--amc-/rns/audited-final-results-for-the-year/201906250700102633D/
Rhm - ffs. Stop spewing absolute rubbish! Went through these same rubbish deramps a few years ago!!
Yep we've all been buying into nothing!!!Move on, nothing to see here.
Shouldn't the legal entity Amur Minerals own all the shares in Irosta otherwise that would mean the named directors owned the asset and not the shareholders of AMC...
Isn't spewing out opinions the purpose of chat threads...
TDT,
Understood.
Thanks
TD2 - that's a pretty comprehensive list. Never been to Cyprus and wasn't aware it had this help for businesses. Item 22 is about the only one that requires one to actually go to Cyprus.
Astar
I'm sorry but I'm afraid I wouldn't feel comfortable laying out what I think is going on here. It would be an opinion and my opinion is no more valid than anybody else's.
TDT
TD2 - Thanks.
CBS - Thanks. Sounds reasonable not that I'd know if it wasn't.
Hi TDT,
I, personally would like to hear your thoughts on what is currently happening. You have been pretty much right all the way with this one.
Thanks in avance.
Thanks TDT, can I assume from that document that there is a very good chance that there will be no taxes to pay from the sale! Just having a guess from a quick scan.
This probably explains the advantages of Cyprus quite well.
https://www.offshorecompanycorp.com/insight/jurisdiction-update/all-major-benefits-and-advantages-a-cyprus
TDT
Asabutchersdog
It's a jurisdiction issue. Being a Cyprus registered company its offshore. From the Cyprus registry:-
"IROSTA TRADING LIMITED is registered in Cyprus at 09/10/03 as a(n) Limited Company. The Registration Number for this Cyprus Limited Company as held by the Official Government of the Cyprus Registrar Of Companies is HE141841. The Organisation Status is Active. There are 6 Officials currently on file. The address of the company is ???s????? ??????, 3, 3030, ?eµes??, ??p???. As for the officials as seen at the Official Cyprus Registrar at the point in time when the data were collected ????? ???????? holds the position of Director, ROBIN JAY YOUNG holds the position of Director, ????G?O?? ?O?S???????? holds the position of Director, MERITSERVUS SECRETARIES LTD holds the position of Secretary, LOCHINVAR LIMITED holds the position of Assistant Secretary, ARCHWAY SECRETARIES LIMITED holds the position of Assistant Secretary. There are might be more directors and secretaries that are not currently listed in this description as the information represent a point in time in the past. To check the current status of this Cyprus Company collecting data from various sources please order a report."
TDT
My suggestion is that when AMC was conceived, the lawyers who set up the corporate strucutre did so in a way to make the asset itself easier to buy in a transaction with a Russian entity. Cyprus has a Russian friendly business environment. I can't conceive of why else they would set it up like this.
TD2 - What's the purpose for Irosta Trading? Not a naive question I'm not an accountant. Is it for obsfucation?