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Corporate Boardroom Theft
Kammy i will dump the lot if it gets to .0173p a 50% loss if better than the mince RY is offering.
Another outcome could be that Spiv buys 70-80%. Then we can benefit from any future upside.
...first, vote against proposed deal, second put to BOD an alternative resolution of selling KM for a one of bulk payment even at the discount to the current one, if they will be able to find a willing buyer of course, and at the same time request of AMC's winding up and distribution of money from existing funds
Missed out selling at over 2 whilst absorbing the news.
Price fell quickly and now at a level I might as well hold.
Would be interesting to see how many would sell if the price gets back above 2.
The best feasible outcome I can see is:
- we vote no and block the current deal
- I doubt the buyer will just walk away... so rejecting the offer gives us the opportunity to improve the terms
- Its unlikely we'll get significantly extra money out of the buyer so I wouldn't bother trying to up the price, however the payment should be made in one lump sum.
- for me, the absolute deal breaker is the buy now pay later bit.
- I would like see AMC then wound up, but I also note the stated plan was to sell KM... there was never any mention of winding up the co. after that.... but I think that's what we all assumed. Certainly a large chunk (80%) of the sale price should be paid to shareholders, imv.
I also note, at the beginning of each RNS we see,
"Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia"
So I wonder what's in the Memorandums and Articles and whether looking for other project in other areas would require a shareholder vote, as its a significant change to the business of the co.
I guess we'll find out when the resolutions are issued.
Options
Sell now = Pocket whatever you can, you will be control, you decide what to do with YOUR money, or re-invest elsewhere
Vote No = No one knows what will happen, could it get any worse than now?
Vote Yes = Suffer for another 10-15 years, carrot will always be dangled
There you have it, those are the options/alternatives.
Kammy
....I genuinely feel for each and every shareholder
.....Kammy
Including the directors?
Wonder if they'll still be holding if the transaction goes thru?
Do they forego the options as well?
Like many been in this for more than twelve years. Attended many meetings and listened to RY and his enthusiastic statements most of which never happened.
I do think we are now in a very tight corner with no wiggle room. I’m not going to vote no just because matters are out of the boards control and to be spiteful. If anyone can suggest a feasible alternative then I will have to give very serious consideration to a yes and have to live with my losses.
ShadowLess....laughter is one of the best cures!!
Yes, I was gutted at the time, looking back it now, it was a good emotional decision to sell. I repeatedly hit the sell button when the SP hit 3.4p, but no luck, but eventually managed to sell the 1st lot at 2.9p and 2nd lot at 2.6p, still below my average, but wasn't willing to hold any longer.
I'm watch, thinking should I buy back some? So far, I've stayed away from the buy button, I don't think anyone knows where the SP is heading, one would think RY/BOD would issue some kind of statement to stop the free fall.
So many people invested here years, some big hitters, to better their and their families lives, sometimes we get the odd glimpse of the promise land, we start to think and dream what to do with the rewards (car, house, kids educations and etc) but somehow AIM, and in particular the crooked CEO's and BOD's have a habit of stealing our investments and destroying the dreams of the promise land.
I genuinely feel for each and every shareholder.....
Kammy
Market value circa £16m
Post transaction market cap/cash shell £16m
over 4 years...maybe more loaded to end of 4 years £64m will come into the company (without capital raise)
Maybe then can return say £16m in dividends.....so we get our capital investment (if investing today) back 100%
I appreciate why many of you feel the board has lost credability and therefore we may see very little of £64m
but with this £64m coming in over 4 years for the price of £16m or so today .....I will take the gamble.....just numbers that appear to make sense to me (from today moving forward).
Well I’m out, took the hit on the punt, so I’ll find somewhere else to place the salvaged funds. See if I can recover what I lost on it over the next decade elsewhere :) The race is on to beat whatever this company turns into, maybe they could look into Zeppelins. F donuts
"Based on RY/BOD track records, the dragons would famously say I'm Out" Haha............ not sure why I am laughing as I am down by half! but IT made me chuckle.
I guess that is what you said when you sold your holding!!
1p closer than I thought. If 1p goes, how low will the SP go.
ShadowLess...true to a degree.
Think long term, AMC have what the world needs, this conflict and Russia will not stop planet earth rotating, one way or another even hostile countries do trade.
Based on RY/BOD track records, the dragons would famously say I'm Out
Kammy
if they presented an investment case that involved Russia of any kind then NO! And that is one of the issues AMC are facing.
Becoming a 'junk' status stock with a junk ceo.
May be too long ago but perhaps this is why he left
Asset isn't actually anywhere near as good as once thought because, even with what is going on at the moment, this just doesn't stack up. The lack of the TEO perhaps part of this explanation too
Old highs in the 40p's long, long gone and I personally was amazed at the deal and how bad it looks for shareholders. When the 25th comes I'll be voting no and whatever happens happens I am afraid
JG
If only RY came out with clarity and we were to believe him.
I cannot see how to believe in this man ( to cast a yes vote) who, over the last 10-14yrs, never kept to time lines nor delivered us what been promised in RNS messages eg TEO etc and yet has the audacity to say he has best interests for his shareholders.
Sadly a resounding NO from me, even if i were to lose my huge investment.
Really ****ed off after holding this for so many years. Feel like a mugg believing RY
If RY/BOD went onto Dragons Den.....would they get an investment?
Kammy
It could be a ‘maybe get something back’ if you vote YES but a ‘get nothing back’ if you vote NO, short and curly’s springs to mind. Let’s face it barring another Russian (who decided on this one?) who’s going to offer any more? Sanctions will be there for a long while and this war isn’t going to stop any time soon if at all. The majority of the western world are pulling out of the country and having no dealings with it so how can AMC continue with thus asset?
...SL, I prefer to have them valued backed by company current asset and not a hope of finding a new one
ShadowLess... You say "we would also still have the value of the share that we still hold in AMC"
Seriously, what value of a cash shell? Current SP is 1.20p.....post deal, no assets and only first payment in the bank, I'd be surprised if the SP rises above a penny. Remember, operating costs (salaries) will eat away at the bank balance
Apologies if already posted I contacted Investdirdct and they need to know the resolutions for me to vote, but I can’t seem to find them - any ideas? Tia
Mr Kammy I thought you said farewell yesterday as you had sold all your shares after 9 Years