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Only 1.8 is a firm price and that is only based on us accepting the deal.
There may be a second payment I believe if the company is wound up as it could not find a reverse take-over. We have no idea what that amount could be. I would take a guess it could be about 0.2 pence. Not above and maybe less.
If we find a reverse take-over we could issue shares for cash, and you still have a company that could survive and grow and be worth more than 0.20 pence. Depends on what deal they do. Remember the company will issues shares and lots of then so the share price will crash after you get your 1.8 pence. Do not expect much. Perhaps a new bidder could come in when they see the low take-out price.
potential dividend, you will still need to be the beneficiary holder of the shares at the date, thereafter you have a live share price if still listed on exchange to trade at your discretion. Its a one off divi structured deal.
Could someone clarify my simple understanding or non understanding of this please. Does the RNS mean that we get 1.8p dividend per share plus 0.8p per share when sold or is it some other deal? Any clarity would be appreciated. Many thanks in advance.
...... After Completion of the Disposal, the Company will become a cash shell and will seek to complete a reverse takeover which will require Shareholder approval within 12 months. Should an acceptable reverse takeover opportunity not be identified and approved by the Shareholders, the remaining funds from the transaction less costs shall be distributed as a second special dividend.
Extarct from RNS
Correct. Providing the offer is acceptable to us very fickle Amur shareholders!! AND as I read it a carry interest in a new venture.
Wishful thinking Ilovesushi. If shareholders reject this offer, we will be holding Amur shares for ever and a day hoping that the Company is not "nationalised". I am very surprised a deal has even been constructed. As I read it we will get a special dividend of 1.8p per share AND still have a carry interest in a new AMC venture (but not in Russia).
I’ll be voting no to this shafting
Yes, this becomes a cash shell. It would then seek a reverse take-over. share value of anywhere between 0.2 is my assumption. Not sure how much cash we have left so hard to say.
A counter bid is my guess and or a slight increase or sweetened deal to get it through. 2.0 is my estimate. Hang in there. 3.0p - 5.0p on a new bidder. Its a good asset.
No sign of another bidder. They probably would have appeared at the time of the first offer, surely?
Instead of $105m staggered in bits we now have an equally derisory offer of $35m cash up front.
I will lose 50% if this goes ahead but frankly I can't see an alternative while the war and sanctions continue.
It's my fault for getting into this share without investigating enough beforehand - lesson learned!
One other point - isn't this really the only asset the company holds? Please could someone confirm? If it is, then although we will still hold shares wouldn't the company become a cash shell under the AIM rules? If that's right then they either have to buy an asset or find and allow a reverse takeover, otherwise they have to wind up after something like 6 or 12 months. On wind-up we will not get anything as the company won't have any assets.
This is going higher and there will be another offer. Easy to get them to sweeten it. obviously they want the asset as they have come back from the last rejection. Buy
Ditto.
I was against the structure of the prior offer, but I strongly think that this is it.
As people have already said, there's the 1.8p payout, and any residual value in the remainder (some cash, etc e.g. I'm not sure there will be any tax benefit of the many millions of prior year losses for a BVI company, but there could be something).
So although I will have lost out massively on this deal, I think this will go through and is better than nothing.
Good luck all.
nm
The 1.8p payment doesn't represent everything, they will still have circa £8-10M so NAV will be nearer 2.4p
Although my first thought was most would sell, on reflection those who are underwater have been given a chance to average down. The SP may even go above 1.8p leading up to completion as after the payment there will still be residual value of cira 0.5p.
Accepting the first offer would have been better for the SP, lets hope the same people don't reject this one.
You will get 1.8 Pence on a Capital Return plus still have shares that could be worth a fair bit on holding AMC. lets assume 0.2 pence. The deal could be worth 2.0 and there is a chance of a second bidder now. Damn he could always be forced to pay a lot more. This is NOT the final offer.
Russia under fire and infrastructure being obliterated? No. Sanctions, if the world needs a resource the buyers will get it from anyone. As usual something of value will end up in Russian hands at a knock down price. The $100m offer now looked very good. As regards buy,buy,buy who is likely to sell, sell,sell.
Looks like the buyers are gambling on having enough shares to swing the vote on this rubbish offer....why would anyone sell them their shares for less than 1.8p even if you wish to accept the offer? The money being talked about here is peanuts in the world of mining and energy and surely another bid cant be ruled out.
THE RNS is what will be honoured subject to approval, so yes a special dividend.
meaningful voting position to do what? reject it? only existing s/h's who were looking for 7p again will vote no. most folk will be glad to see the back of this, imo. the war and sanctions aren't going away anything soon... holder's being shafted, yes but the alternative is... ?
The 1.8 will not be paid as a special dividend. It will be paid as a capital repayment that you will not pay tax on. It is just written that way. Buy buy buy upto 1.75p
What are the chances now for another BID from someone else?
You've got the right idea , there will be big buyers around here taking meaningful voting position
Who are they kidding,
'Special Military Operation' have adversely impacted our ability to advance, develop and place Kun-Manie into production in the foreseeable future,
They were never going to advance this in the near future.
Sp settling at 1.3p.
That's if it get's approved.