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>Is the 19th May bid deadline still valid?
Yes.
Consult the latest monitor's report, page 9, for the timelines:
https://ramblermines.com/storage/misc/monitors-fourth-report-dated-may-12-2023-compressed-1684259820.pdf
Offer details are the remit of the administrator. Shareholders will be given a a %age of any funds left over after everyone else is paid. Usually nothing.
Remind me, who's the biggest shareholder.
BM by any chance. He's a bit late to the f***in party.
Should have fired that financially illiterate CEO a long time ago....
If we (PI's) go down, I hope the pain is shared equally with BM !!
Come on, Timmy, hype up the stock. Best time ever for RMM!
Also - Bradford Mills finally speaketh:
"It is important that the SISP process comes to a successful conclusion and that the maximum value is realised for the benefit of as many stakeholders as possible."
Not 'all stakeholders', but 'as many as possible'. Look at that confidence!
Thanks. I have now joined.
You should join discord
Hi there -I am involved on the RIG Facebook page but I am not in any other group.
Why £97 million? Are you suggesting someone has put a bid in for that amount?
Hi Leah, have you joined the RIG group yet?
Vote AGAINST "voluntary liquidation". Also vote AGAINST appointing the liquidators recommended by the directors. Liquidation is terrible outcome for shareholders.
If there ends up being a "compuslory liquidation" that is much better for us because the Court will run the process and not the directors who have mismanaged this company and publicly misled us into investing just before declaring insolvency. The Official Receiver will then fully the directors and their conduct.
$97 millions ....needs more to beat that bid .
...from Hudbay Minerals and May 08, 2023 released its first quarter 2023 financial results. All amounts are in U.S. dollars
" Currently at March 31, 2023, the company’s liquidity includes $255.6 million in cash as well as undrawn availability of $355.4 million under its revolving credit facilities."
Who knows?
There are many ieological similarilties with the bankrupt copper mine in Canada. Super-power project sponsors and management team using the cover of a public stock exchange to deceive innocent inviduals and plunder their savings invested in good faith based on overtly fraudulent misrepresentations.
The big bully superpower Russia thought it would rob the far weaker less equipped country of Ukraine of all of its possessions. They lied to their own loyal people of its dishonourable self fulfilling intentions, ruining the lives of many and cramming more wealth into the pockets of the greedy few.
The greedy few whose pockets were already crammed with more loot than they could ever need just wanted more at any cost to the people. Absolutely no concern who they take down on the way.
However, the Ukrainian people are having none of it. They are planning , they do their homework, and they have found weaknesses, mistakes, and they have allies.
The pure injustice has united the Ukrainians and their determination and will is unprecedented. The Russians never expected any resistance and although the counteroffensive hasn’t begun, they are probably regretting ever choosing the path they have taken.
Ukrainians are working very hard behind the scenes in preparation to take back what is rightfully theirs.
The counteroffensive has not yet begun, but it will.
SLAVA UKRAINI
Together we are strong.
SLAVA RIG.
VOTE NO
You should also email rambler@btguk.com - its the new address they are now giving.
Got this e-mail reply today...
Thank you for your email. Please be advised that I am out of the office from 10 May until 15 May 2023, albeit I will be reviewing my emails periodically. However, if your query is urgent, please email as-team@btguk.com.
To be sure that my vote will count I voted again anyway. I wasn’t told otherwise by my broker so a good move I think. I wouldn’t trust for one minute any advice from the greedy basturds.
Yes, we must all vote AGAINST the voluntary liquidation and the appointment of Begbies. Whatever they say to try to persuade us to vote to voluntarily liquidate it is the absolute worst option for the independent sharehlders. It only helps to protect the directors. If you voted against the liquidation in the original meeting then your vote will still count unles you change it. You should email rambler@btguk.com to check that your original vote was received and still counts.
Absolutely agree, no doubt what so ever, vote against both options, use your right to vote.
....very important to vote against..
If you do nothing the default to vote for ,will apply...
My broker, Hargreaves Lansdown, have assured me that they will chase things up to ensure that they provide what I need to have full access to the meeting on 23 May and the voting. I have also chased the proposed liquidator, Begbies Traynor, and they sent me a PDF of the "letter to shareholders" (which is posted on the Rambler website under "press releases"). They say they have now sent this to all the registered shareholders - but my broker has not received anything yet. You will see that there are two "remote" meetings planned - one pre-meeting on 15th May and then the voting metting on 23 May.
Please vote AGAINST against the voluntary liquidation on 23 May because - whatever anyone says to us - it will only serve to protect the directors and will leave us in the worst possible position. We must do everything we can to keep our investments alive until the Canadian position is sorted. If the creditors choose to liquidate our UK Parent Company then we will have to accept that but we, as shareholders, must not initiate it.
If any of us is prevented from voting or attending because of confusing and impossible hurdles we should challenge the validity of the process.
I have been communicating at length with my broker, Hargreaves Lansdown, and they have now assured me that they are actively chasing the custodian to ensure that I have full access to the meeting on 23 May and the voting. I am also chasing the proposed liquidator, Begbies Traynor, who are running the meeting. Please keep chasing your own brokers AS WELL AS Begbies Traynor to get whatever is needed to exercise your vote against the liquidation. Begbies email details are as follows:
as-team@btuk.com (full team), paul.cooper@btguk.com (Paul is the lead partner), james.allen@btguk.com (James is assisting Paul).
Begbies have said they will send all necessary info to enable shareholders attend / have their say and vote. If any of us is prevented from voting or attending despite our requests we should challenge the validity of the process.
Please DO NOT give the Chairman a proxy to vote on your behalf as they will just vote your shares in favour of liquidation to protect the directors who have already mismanaged the business.
I am happy to update you on anything when it comes in.
As "outsider" shareholders, we must all please actively vote AGAINST a resolution to liquidate our UK Parent. There is absolutely no upside for us to vote to voluntarily liquidate the UK Parent (and probably lose our entire investment) before the Canadian operating subsidiary sale process or other restructuring is fully completed and we know our position with more certainty. We must act in a co-ordinated way to maximise our say. If the creditors of the UK Parent put the Company into compulsory liquidation then at least it will be a court-appointed liquidator who will investigate the management team independently and we will have lost nothing. I dont know why they would do this until they know the outcome of the Canadian process. We must stay in the game as long as possible and at least we keep alive some hope of a co-ordinated recovery from this apparently productive but mismanaged mine.
The voluntary liquidation was proposed by the directors to protect them from more personal liability, and this liquidator has been appointed by the directors themselves. We owe it to ourselves to keep our investment alive as long as possible so please actively vote against AGAINST liquidation (don’t just abstain).
Please keep hassling your own broker AS WELL AS Begbies Traynor (who are the proposed liquidator) to get whatever is needed to exercise your vote against the liquidation. Begbies contact email for this matter is as follows:
as-team@btuk.com
Please DO NOT give the Chairman a proxy to vote on your behalf as they will just vote your shares in favour of liquidation.
My Shares are doing so bad that I rarely come onto LSE anymore, so unfortunately I have no idea what has happened to RMM. Sorry, but could someone please enlighten me. What has happened?
Hi Strummer
That doesn't bode well for PI's if Begbies are appointed - they called for a delay to allow PI's to attend/vote, but haven't had the information diseminated to where it needs to be.
Imagine if they had to get a payment to you !