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I wonder if AA are borrowing money to buy Sirius & who from ??
"FYI, the individual mentioned in a non executive of AAL. So they have to state his holding."
Be interesting to know how much he is down too...
"In the rns today aal say they have someone involved with them ( Ian Ashby) has just over 1 million shares"
https://www.angloamerican.com/media/press-releases/2017/23-05-2017
( Ian Ashby)
A BHP long term employee, now retired, Non-Exec of AAL for the last few years.
John
In the rns today aal say they have someone involved with them ( Ian Ashby) has just over 1 million shares
BUT aal themselves have no shares ??? well that#show it reads to me anyway
Regards
ffc
John2015 - it's standard practice on risk control, modular system, even sxx consists of more than dozen separate (uk and foreign, mostly 100% controlled) legal entities (and can be sold block by block)
I see it as a declaration that a new company AAL uk will own SXX to keep the project a wholly owned subsidiary of AAL, but separate enough to stand or fail without impacting the main business, like a limited company ?
In which case maybe AAL uk would be worth buying, if they list ?
Anybody git any thoughts ?
FWIW I think AAL themselves are hoovering up shares at any price 5.50 or below, why wouldn't they ?
"devon, why are you here. you're clearly not invested in SXX and seem to be cheerleading for AAL. the new IBAB. Feck off."
LOL, becuase it's a public board and I have as much right to be here as you.
You don't think AAL might have got themselves a decent opportunity then?
I think you'll find less emotion makes for better investing over the long term :)
They've been very tactical in getting a decent price for a risky project. Intentionally or not, they are ringing the bell for last orders. Doing that at the late stages of the financial runway, feels like the optimium strategy for an acquirer - it's less messy than pulling it out of administration.
"RNS makes it clear that AAL have not purchased any shares....."
They've already destabilised it to a greater enought extent to either acquire it at the offer price or buy it through administration.
If the offer fails, and within the context of the Board saying Administration is likely, creditors will panic and the end could come swiftly.
Who will be waiting with open arms? AAL, hedgefunds or a combination of the two? Could AAL de-risk the project futher by bringing in higher alpha players? Maybe. Or could they just lower their costs by being the only party capable of providing creditors with the comfort of 'going concern' business continuity....
RNS makes it clear that AAL have not purchased any shares.....
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IBAB - i think you mean …….RNS makes it clear that AAL have not purchased any shares THEMSELVES.....
This has become very shady. Who's to say they don't have a "friend" hoovering up shares.
Lots of speculation on motives, but it's very clear that the BOD have not played with a completely straight bat and there is a history with AAL going back several months at Woodsmith and several years at Fortescue.
Smells a bit. AAL may end up getting the mine, but they may also end up with a class action suit too for theor troubles. Too many people here have lost too much on the back of a clearly articulated plan that took a 180 degree turn, just before the last penny was spent. The brakes could've been applied much sooner.