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Hi rfarfa. I've received the same information from HL, although I hold Amara as part of my SIPP. I feel exactly the same. I bought the shares a few years ago when they were on the up but now they're worth about 80% less than I paid for them. HL's information is very downbeat and effectively tells shareholders to sell now before we're unable to do anything with them at all. Hugely disappointing.
well I have just recieved information from H&L reference my amara holding within the ISA wrapper. One I do not fully understand all of what they have to say. But basically I think we have been dumped on from a great height. They warn that due to the procedures that will have to be followed to accept the offer could mean that you can end up with shares that you will not be able to sell. In any event the warrants cannot be held within your ISA. I would have thought that Amara would have ensured that its small shareholders many of which like me, knew it was a very long term investment, and insisted as part of the deal that the Perseus shares be listed on the LSE.
Nice
I'm not sure about it all either. If anyone can shed some light, would be most grateful. I havent got a massive amount, 50,000 @ 10.5p, in an isa, I don't need to realise the capital at the moment and was thinking they had the potential to be a nice little nest egg.
Hi first posting so go easy on me, i have been in Amara for some time and on average purchase they stand me at 20p, i was always in for the long haul as i could see the potential, i trade on the halifax site and i am a little uneasy about my options, whats the general consensus here from you regulars, hang on in take the deal and hope the warrants come good and they float on LSE or bail out, when is the last date of the bail out option, i understand sometime in early April but not sure of the exact date, finally anyone heard any update from John McGloin or the markets on a challenge bid to the Perseus offer.
Very possible now
Ive sent you a message, are you able to respond, thanks
Rose to 44c last night in Oz before dropping back later to 40c - looks like that coincided with the mini smack on Gold last night.
Any particular reason why more buys today? Trades Vol. Sold Vol. Bought 104 878,061 3,049,206
I assume this is because of some holders bailing out before the offer closes and trading finishes next month. But I would have thought this will, at some point, elevate to the takeover offer for the shares equivalent 14.9p Not looking at this point like there'll be a counter offer but still time I suppose.
Sorry SD69, we probably all assumed you would have found out for yourself by now. Look back to the initial RNS on 29 Feb to understand what's happening. RECOMMENDED COMBINATION OF PERSEUS AND AMARA. The Form 8 sets out the position of the major shareholders at the time of the takeover announcement. The later ones provide updates to those positions caused by dealing. 8.3 - Public Opening Position Disclosure/Dealing Disclosure by a person with an interest in relevant securities representing 1% or more 8.5 - Public Dealing Disclosure by an exempt principal trader
Whats are the forms?
Sorry not been in here for a while! Could somebody please give me an update on what all these Form 8.3 RNS are? Has AMA been bought out?
Rfarfa, I know some people mentioned that Persues might be considering a UK listing..if that was the case then the shares would I believe be ISA-able. Perhaps we will find out more in the posting of the Scheme of Particulars today...
Can anyone kindly give the difinitive answer as to what is going to happen, or should I be saying what is the best way forward for shares held within an ISA. When my great grandson was born I used his Isa allowance, to purchase Amara shares hoping that his education would be taken care of.
Would be excellent if this pushed on past 14p. obviously the AMA SP is linked to the Perseus SP but John McGloin did say he'd be surprised if a counter offer didn't come along. Fingers crossed for ideal scenario of counter offer followed by bidding war.
I've checked things out with my broker and I'll be taking the offer for sure. If you look at the PRU SP it has not dropped despite the coming dilution due to the T/O. To me that means the market likes it and accepts the additional value AMA will bring to the party. Will only take a modest rise in PRU SP from here to be in the money already on the warrants too. Indeed I think the warrants will be a big winner for those with a bit of patience and foresight. The gold price will be a Big factor too.
now worth 14.75p based on close on TSX last night. Including warrants offer is now about 16p. GDXJ up 9% yesterday on Fed. Wake up folks.
Ahhh you're to blame... ;) all the best to you and shame it didn't work out for you. I see things slightly differently and I don't think gains on PRU are necessarily going to be long term. The gold price will play a significant role and once sentiment improves further in the sector I believe PRU will get a rerating. They will have rather a lot of gold on their books for a junior-intermediate? And once the price rises above the warrant exercise that comes into play too. Yes, you have to have a longer horizon but not as long as you believe.... I believe!
Dibs61, Perhaps I am to blame. Sold my holding of 280K shares at 12.8 this morning having bought at an average price of 18.. Why? My Halifax on-line account will not deal in ASX shares so I would need to transfer out. No problem because I have a broker account that does but they tell me the transfer could take 6 - 8 weeks so cannot transfer before the merger date of mid April. See time-line on PRU website although could after the merger and be in limbo for a couple of months.. Also, The revenue from PRU mine will be significantly less for 2016 and 2017 as they transition to a new pit. Only after that will revenues be higher and as they say develop new mines including YRE. The timescale for pouring gold from YRE is 2019 and no doubt there will be delays so say 2020. Even then they may have to raise additional cash. This has become a jam tomorrow investment possible over 5 years , too long for me! I have reinvested in Blackrock World Mining Trust (BRWM) and will await developments at PRU before hopefully reinvesting. Of course we miss the warrant offer but not to worry.
It's quite clear that some people are bailing out accepting quite a discount to the actual Perseus offer. For example I hold 75k shares here and the value of my Amaranth holding @ 12.63 is £750 less than the offer.
As is the fall in gold price today despite the $ index imploding again. Gold is priced in $, so $ down means commodity dollar based price up. If gold is falling in a falling dollar then it is being sold at the same time and at a faster rate than the dollar. Run from the $ and run from gold even faster. What a joke!
This is a bit perplexing. According to the relative valuations of Perseus shares and Amara this should be about 14p now so it's clearly discounted against the takeover offer. ??
Trend indicators taken in isolation are pretty meaningless so it doesn't really not make sense. Since China and other commods are making a bit of a comeback on USD weakness it makes sense gold would head lower. Personally I think it's a bit of a false comeback so would expect to see gold to go up again when it stalls.
gold setting a new 13 month high last night, but yet again it's walked back down. It makes no sense to break such a long term high and not punch significantly higher, especially with so much consolidation since the initial spike a month ago. Surely we're going to see a big move higher in the gold price very soon. For next targets we have the previous highs at 1307 and 1345, but the most likely candidate for me looks like the next fib at 1380, especially as it is very close to the high at 1387. GLA