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towner, you're sheeting yourself because you're above your head, let them burn I say.
VOTE NO.
The offer price, although laughable, is not the reason I will vote against this, the arrogance displayed by the BOD in proposing to safeguard their salaries and pensions above all by recommending they continue onto another venture with our money is the reason
I have just registered my No vote with Barclays.
Do you believe the receipt structure is what AMCs BOD wanted? I certainly don't.
It will be the the only way to increase the acquisition price.
The BOD have a gun to their heads, so do us PIs.
Voting no simply pulls the trigger
does the word 'proposed' support this.......
This is old news but there is evidence of a second party interested in our asset.
Russian copper companies billionaire Igor altushkin (Sunday Express)
https://twitter.com/ZaksTradersCafe/status/1508480905727381508
Crazytowner,
I don't believe people are wanting to make a protest vote.
If this offer was to pay shareholders the total amount on offer in one payment then I think most would have accepted it in the current climate.
It's the terms of the deal that most people are rightly outraged by.
Why would anyone want to let RY & co decide what to do with our money?
A lot of LTH's have given 12+ years for the company to add value to their holding and got back empty promises, missed deadlines and none existent communications. So why would anyone be happy giving them another 10-15 years to do the same?
I've always thought RY & team have done a great job of getting through numerous difficult times but these terms are like a two fingered salute from the company for all our time, patience & money.
That's exactly what i think is going on here. He's perfectly entitled to do that too.
I’ve been invested here for a number of years, no where near some. So some may be able answer the below.
Although not material to the current situation I was wondering how much has been spent providing up the Kun-Marie resources?
LTHs should hope that the SP races back to over 2p to avert a cheap bid coming in now.
The RNS clearly states that the mine value today is at the offer price (albeit at the bottom end of the price range). AMC obtained an independent valuation.
MD I feel your pain having been invested for the same interminable length of time, but when you weigh up what is happening in Russia and the fact that some value (no matter how trivial) is on the table with a carry forward for future value aswell I do not see a viable alternative. Even if we could kick out the BoD (which I would not be in favour of), who the heck would wish to replace them given the jurisdiction of the mine site. Sending a message of "I don't care if I do lose all my invested money in AMC" is not a sound investment practice. Risk mitigation is Accept the offer on the table (no matter it is a bitter pill to swallow) and keep what little faith we might have left. If the proposition is rejected I think we can safely say the end game would be long and slow with a share price probably languishing well below the 1p level, which it has visited before. If we believe the proposition will be adopted there is even an arbitration opportunity given the current share price is well below the offer on the table.
Could buy 30% AMC shares on the open market at less than 2p and make a formal takover bid for the company for probably less than 3p or at most 4p a share at this rate.
Well done LTH's for pressing the self destruct button.
DYOR
The idea that AMC BOD can go back to the acquirer is proposperous.
The deal is terrible and the phasing even worse.
That is how bad the situation is in Russia at the moment.
If a 2nd bidder does not materialise this week then it couldn't be clearer that in the event of a no vote we lose everything.
The BOD would likely resign, we would not be able to raise cash to fund the mine plan and we would lose the licence.
This is not the time for a protest vote, it is a time to think clearly how to get as much back as we can.
There is no room for AMC to negotiate if there isn't a 2nd bidder
SL - he probably wont reply hopefully he will get the feeling people are not impressed
KR- regarding the number that's not surprising not sure why they put the number on the RNS
PS i have registered my intention to vote with my broker HL
Shares in Nominee Accounts.
The AMC website has a list of where shares are held, it would appear that over 70% is in retail nominee accounts i.e. interactive, barclays , hargreaves etc
It would appear retail shareholders hold the power here, so your vote counts, not voting will probably be a vote for 'Proposal' as non utilised proxy votes tend to go with the proposal.
http://amurminerals.com/share-information/
Who is selling amc below 4p????
I might email TB to see what he thinks of the current situation (I don't of course expect a reply).
Considering he has purchased over +7m of AMC shares for £162K.
https://www.linkedin.com/in/tom-bowens-a1175831/
Tom Bowens is active on LinkedIn, so more likely to see a message sent on there
You won't be getting 5p
…… has over 100 years of experience and this is all they could come up with. Guess the NKVD must have paid them a visit with their sharpened umbrellas at the ready, it’s the only viable reason.
Firstly as of now I cannot find the circular as referred to in the RNS on the Amur website, I don't think its up there yet if someone can find it please post the link.
Important to note the first word on yesterdays RNS is 'Proposed' , that's because until shareholders vote in favour it's only a proposal.
While it's preferable to attend, because there may be shenanigans at the meeting, It's important to also note that you do not have to attend the meeting to vote, you can register your vote with your broker.
If you are going to attend be sure to request your authority to vote letter from your broker as soon as possible as they take time to issue, I would suggest this week, I have waited almost 2 weeks in the past for these to arrive, Some brokers are quicker than others in issuing. This letter says how many shares you have authority to vote with, some brokers charge for this, others don't.
If you can't make the meeting remember every vote counts, you are not powerless, you have a vote.
In order to cast and register your votes call your broker, a broker is who you bought your shares through, ie Barclays, IG, Hargreaves etc, the department you want to get through to either to vote by proxy (with your broker rather than attend) or by attending is normally referred to as 'Corporate Actions'.
A point to note until the company issue the circular and the motions that are going to be voted on the broker can't register your vote and as far as I can see that hasn't been done yet despite it being referred to in the latest RNS.
Your best point of contact in registering either for the letter or doing your proxy vote is your broker, its pointless trying to contact the company, even if you could contact them they would just refer you to your broker.
If you hold shares with more than one broker you will need to contact them all.
Some on here seem to think this is a black and white issue, imho it's not. If the 'Proposal' is rejected by shareholders it gives the 'Board' the authority to go back to the proposed purchaser and renegotiate as per the shareholders collective wishes.
Whether you want this proposal to go through or not it's important that you vote otherwise you are giving your vote to RY to utilise as he sees fit.
Take the 5-10 minutes and register your votes, not much more than it takes to write a post on here and it's your money at stake here, you have a choice, I suggest you use it.
how do you think your going to get 5p not going to happen,unless another bid comes in
But now i preffer 5p