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Voting extension could be that the powers that be need to accumulate more shares.
There is an accumulator at 560,000 shares approx.
Have noticed a buyer around that size fairly frequently all yesterday and so far today. smart buyer waiting for a cheap offer to take
Is this relevant to AMC? https://sanctionsnews.bakermckenzie.com/draft-bill-on-nationalization-of-russian-assets-owned-by-foreign-persons/
Everything sanction related is relevant to AMC at the present.
I really don't think people understand the impact of sanctions and the severity of those applied against Russia and its counter measures
No wonder Spiv wants this wrapped up asap.
He can't buy us if we're nationalised.
He'd best sweeten his offer - $105m up front.
Sanctions don't don't always bite immediately, they tend strangle and suffocate a country.
Currency controls, threat of Nationalisation of the asset (BVI is supporting Western sanctions), the likes of Caterpillar have exited Russia etc. etc.
The Countermeasure is already in place but is not a concern to AMC at present time.
" the legislative commission of the Russian government approved a set of legislative measures that could eventually lead to the nationalisation of foreign companies that leave Russia or suspend their business operations."
The above countermeasure in action
https://www.bbc.co.uk/news/business-61463874
Reading this board I believe that there are broadly three factions
1. No sale and wait until Putin’s war is over. These people believe that everything will go back to the way it was.
2. Sell now because it’s the only deal that’s available and you’re lucky to have that.
3. Sell but surely there must be a better deal to be had.
Option 1 comes with extreme risk. Only someone who is able and willing to loose the lot should consider this option.
Option 2 is probably the least risky as you know you’ll get something back. Depending on your average and exposure then this may be the most attractive option.
Option 3 is a medium risk option as the buyer may walk or may put in a bit of a better offer. How much better is the question and do you risk this slightly better offer against them walking?
I myself am going for option 3 as personal thought the asset would have been sold anyway but after TEO/BFS and the risk is acceptable to me. I just wish I’d sold when the initial offer was tabled, but we’d all be rich in hindsight.
Rover, how is option 3 actually an option at this juncture ?
To get to option 3 you need to go via option 1....
I'm still convinced my no vote was the right thing todo... and no I cant afford to loose the lot.
As I see it a no vote keeps the possibility of a better offer... and better exit price.
A yes vote cements the awful terms and kills any hope of a decent exit price...
Mat,
You are correct that there are only two available options at the moment, to clarify my vote is no so we can get to option 3.
Amazing how some on here are stating their opinions as facts. Reminds me of when they ‘knew’ what the BOD was thinking and insisting we should all go along with it despite no information. Now they’re Russian experts.
Vote as you think. No one on here has a better idea. If they knew that much they wouldn’t still be here!
The fact is that Tom Bowens will have been heavily involved in negotiating this deal having sold an asset in Russia previously. Nobody is better qualified to have an opinion than him.
He is recommending this deal
He'll likely make nothing from his options before they expire, will take a year for his shares to be back in the money and has the same risks of the acquirer not paying as us.
The great returns, the competition, the Asia angle.... Its all gone and won't be back for years.
With half my family living in a western sanctioned country, I can attest to how dreadful sanctions are for businesses and the population, and they are a fraction of what is imposed on Russia.
I wouldn't worry too much about Tom Bowens. I'm sure he'll be awarded some cheaper options in the near future.
Do we know what happened to the 2nd bidder?
he sleeps with the fishes...
Are you sure CBS.Isn’t it highly likely that as with most things in the last few years they’ve contracted outside consultants;))
MD