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Geng,
'..The Company has received tax advice that the Disposal is unlikely to attract capital gains or withholding tax.'
That's no capital gains tax and witholding tax on the disposal, not the dividend.
Geng
Why would they suspend, they didnt at the last vote. Its gonna start creeping to at least 1.8p before the meeting.
Alot more buys now, profit takers out. The ceo Young said they already have assets lined up which are near production.
Mkt are goin downhill next year or so, i recall i3e purchased a producing stock for 30m. 10kboepd that was..
Although the chance to purchase now and make a quick profit is quite appealing, my horrible luck with this has caused me to pass it up.
Knowing my luck, if I punt additional money, the SP would crash the next day as a result of some other circumstance.
A nice large 722,109 buy on the close. More rises tomorrow.
Thanks Geng - that clears things up. I can only hope that if a Russian company takes over and buys the asset that it may speed the way things go ahead in terms of production and further funding from Russian government if it comes to that. I do hope we get what we have put in over the years and certainly a higher SP in the next year than sub 1p!
jam96p, It's a special 'return of capital' dividend, previous trades are irrelevant, paid within 90 days of completion.
Not sure how this will work as there may be a chance to buy shares after the vote and still get the dividend, wording is a bit confusing (surprise surprise for AMC) and not sure how this will work.
Surely they will suspend the shares either on the morning of the vote, on the deadline date (22nd August), or even sooner. This I think is most likely and will mean some may miss the opportunity to average down, especially if suspension happens sooner.
"The Board proposes that the record date and payment date for the distribution of the post-Completion dividend shall
be no later than 90 days following receipt of the consideration payment."
Hi Geng - like yourself I have been here for many years averaging down over time. Do you know or have any idea when they will pay the dividend from ie trades made before last year?
To clear up and doubt this is from the Circular:-
"Following receipt of the consideration of US$ 35 million, the Company intends to pay a special dividend of
1.8 pence per share to be paid to Shareholders within 90 days of Completion. The Company has
received tax advice that the Disposal is unlikely to attract capital gains or withholding tax. The Board
proposes that the record date and payment date for the distribution of the post-Completion dividend shall
be no later than 90 days following receipt of the consideration payment."
anything up to 1.7 pence is a good. All short termers can make cash and keep a holding. For free. LOL
Juney
1.8p per share is special divi, you still keep all you shares after payment. NAV will be 2.4p per share. Company have stated they have identified near term production assets.
I think, after about 2 years in this share, I want out. 1.8p at this stage is better than a kick in the proverbials so I will be voting yes
buy and vote yes and its all money in the bank. And you will have a company worth a bit. No brainer. Short term holders make at the expense of the long term holder. Strong buy
Many didnt vote last time knowin the deal would go through. Little did they know about 15% of holders made a group trying to kill deal.
I think this time around the board will be on the phone asking big holders to vote yes.
LTHolder in and out over many years.
The war has finished this for me and I will reluctantly take the 1.8p as the alternative is too risky. I am not prepared to lose all.
I will vote Yes
Pog was actually in production and large producer.
If that went down amc can also they can just nab that from us. The rule of law changed when west stole russian foreign reserves illegally.
Pog should never have gone into administration had it not been for sanctions.
We have a few which say refuse the deal and kick the can, the company are pleading with us take the deal so they can leave.
Once deal approved company will have a NAV of 2.4p a share. The ceo in may stated they have identified certain near term production assets. So that is good.
People drawing comparisons with POG... this is not the same. POG defaulted on its liabilities. We haven't.
A YES vote is the only way out and we'll nudge up to 1.6-1.8p but the 24th. After the meeting we will be north of 1.8p
Give away 95% of project for 5% free carry.
Not actually no alternatives, just almost no alternatives to advancing development.
I wonder what those alternatives are...
Over 50% i believe.
"Should shareholders reject the sale of Kun-Manie, there are virtually no alternatives available to our advancing development of the project. "
"The Company does not foresee that another offer to purchase Kun-Manie would be forthcoming in the event that the current offer is rejected."
Sellers are as always being matched neatly to buyers, can't quite figure out which way it will move from here. I suspect there is a transfer from capitulating LTH's to speculators going on hence the static price. Still waiting for some big trades (10Mil +) to occur for direction, no rush there are still 3 weeks to go and I'm sure they will come as we get near to the cut off!
Towards the end of last year someone was accumulating, we were all pretty sure of this. It's now obvious an 'agreement' that Spivlov would be the 'allowed' purchaser was made before the last offer. It was then leaked to allow the previous accumulator to exit at a profit. This may have even been partly the method for financing the current deal!
Considering the original offer was made before Pukin invaded Ukraine, this was always the way it was going to play out, it’s Russia and this is how deals work there. Around 2009 many of us Long Termers agreed the RF would never let this go, despite all the reassurances and ‘compensation’ agreements. This is why I’ve always seen AMC as a great trading stock, with the outside chance of a buy out.
The 1-2 year cost to Spivlov is pretty much the same with RY and fellow trough feeders getting a lot less. Although most LTH don't like the outcome, RY is the one conceding the most between both these deals - This says it all to me - there really is NO choice - this deal or nothing - the wording although some see it as threatening is very clear.
Ironically LTH's sitting on a massive loss, especially the ones with the "I'm going to go down with the ship" attitude may fulfil their own 'victim' prophecy.
AIM is 99% for trading not investing, very few AIM listed companies generate a return on an original investment. They keep coming to you for more!
It's only there for the likes of RY to raise cash and for savvy people to trade the waves. If you aren't one of these then you will go down with the ship on AIM.
If I was a long termer I would look at this as another fund raiser but with a much more certain return than usual, average down, rather than shoot myself to avoid being shot!
katstrangler.....Some selling because a lot can happen in 90 days (macro picture?).....a bird in the hand etc./many taking good profits...but many intend to return between now and 90days....so the SP will appreciate...1. when the profit taking clears...and 2. when they return in a few weeks or so ....3. when the 1.8p get's paid.....4. when we buy a new asset...
....The small risk of SP deflation meanwhile would only occur on a "macro" picture change.....perhaps stockmarket collapse...or all out War with Russia/ China and maybe some other Shangai Co-op Members...who knows
but I see 95% success otherwise....so all to play for!
Any link?
and no idea how long it'll take to see them all off. that means the rise will be slow and may get v close to results before seeing the value of buying now. so it becomes very much binary. i can understand why those sellers are now selling. apathy for voting is shockingly poor here, witnessing the last one. so, if the apathy vote wins i'd rather the bad news is left to the lth who can't see the deal on the table as being the best they'll get, short term. not a fan of bitter investors, however much their grievances may be merited.