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After the dividends, we can only shop at LIDL, not M&S
Maybe, in hindsight the deal Adam Habib put forward to the board was better!!!
Gwm121,
My understanding is if your shares are in an ISA, you dont have to worry about tax at all. If not, then I guess you still have time to put them in an ISA....
Age
That is a very very sensible way to go, when hmrc raise minor invertigation it may cost u a lot for proffessionall help.
Would you consider posing here everyting you are submitting or using as backup ? or keeping in touch with me?
wtf hasnt amc clarified...
Does anyone know how much cash the company will have left after the dividend is paid out?
Gwm121 I am not going to include the special dividend in the foreign dividends section of my U.K. tax return but I am going to fill in the white box section of my tax return which is towards the end of the tax return and I will give details re the amount I have received.
I will also include many additional pages of typed narrative with copies of various tribunal cases including the John Buckingham V HMRC First Tier Tribunal case and other tax cases to support my opinion that it is a return of capital.
AGE
Hi Gwm121 I agree with your comments that AMC should state if it is a return of capital or not but seeing as 236 days have elapsed since they said they are turning their full attention to the tax treatment for shareholders I would suspect they are not going to issue a statement.
Logic tells you they have no intention of providing an answer because if they were going to do so then they would have included it in the dividend RNS.
They will just push it under the carpet so as to speak just as they did when Adam Habib was not re-elected as a Director around 2 years ago and the RNS stated they are seeking advice from BVI solicitors but we never heard about this matter again!
It is expensive to take the case to tribunal but as my dividend is so large I am going to attend the tribunal and represent all AMC shareholders.
AGE
Guzzle, the RNS simply says we leave the AIM All Share, not that we move to main market or join the FTSE All Share. We're still AIM aren't we?
I believe I am wrong. The date is March and not June.
TDT
Hello GB, yep I agree , 14th was the date of the RNS, my mistake .
Tdt
Maybe it's got to do with when the FTSE index readjusting itself. Similar to the FTSE 100 index.
"
Readjustment of the index constituents (the companies that make up the FTSE 100) happens every quarter, usually the Wednesday following the first Friday in March, June, September, and December.
"
https://www.investopedia.com/terms/f/ftse.asp#:~:text=Readjustment%20of%20the%20index%20constituents,June%2C%20September%2C%20and%20December.
I think the 14th march still stands as when they become a cash shell.
Commonsese would sat if a company has no income and a dividend is given from the cpmpanies reserves it has to be return of capital.
Thanks to poster who replied to me quoting law cases.
Since amur still havent catergorically said this is return of capital, and keep calling it a dididend saying they are researcng the subject i am at high risk if enter it on tax form as capital return of an hmrc enquiry. To fight this needs proffessionals, they are very expensive.
My situation, 12p average, share price now 2.2p effectively, soill be paid a divi out of my loss and also pay 33 percent tax on the returned money !!!!! Ive not paid tax on a loss before ! Im grateful for answers before when I raised this, however the answers were...although well reasoned... opinions and guesses. It needs amc to clearly state its capital return.
It wouldn't be Amur if it were straight forward, easy to understand and not confusing. AIM Rule 15 clearly states:-
"Within six months of becoming an AIM Rule 15 cash shell, the AIM company must make an acquisition or acquisitions which constitutes a reverse takeover under rule 14."
Today's RNS states:-
"......details of affected indexes and effective dates below: Index - Effective From Start of Trading - FTSE AIM All-Share Index - 01 June 2023."
That says to me the 6 month period they have to RTO runs from 1st. June 2023.
I could be wrong.
TDT
I may have been wrong before on the date we became a cash shell for the purposes of Rule 15. I still think we became a shell on 6th or 14th March. But if so, for market regulations purposes, why do we only get removed from the AIM All Share now?
This may, after all, be the reason they delayed the dividend, to give maximum time before suspension. Hopefully they'll make the deadlines and timetable clear at some point.
Unless I'm reading this incorrectly Amur will become a cash shell on 01/06/2023
TDT
Amur Minerals (UK): Constituent Deletion Changes in FTSE UK Index Series - 25 May 2023
Following the reclassification to AIM Rule 15 (cash shell) for Amur Minerals (UK, constituent), please see details of affected indexes and effective dates below:
Index - Effective FromStart of Trading - FTSE AIM All-Share Index - 01 June 2023
Thanks for the ii info ....mine are all in ii isas also so hopefully the div. will appear without any more technicalities. Here endeth (almost) the first amur saga...will definitely hold for the next one , or the wind up, theres always a "ruma" with "amur".
I have an ISA account with ii and I've spoken to them today to check what I need to do if anything to ensure receipt of the special dividend payout from AMC. I've been reassured there's nothing I have to do, ii will deal with everything with the payment paid into my ii ISA account when they've had receipt of the money. I would urge all shareholders to contact their brokers and get confirmation! I have both verbal and written confirmation from ii and shall wait for the payment to land in my account! Here's the second paragraph of the email I received from ii "I am writing this message to confirm you do not need to do anything in relation to the recent news of a special dividend paid by AMUR MINERALS CORP ORD NPV, this has been taken care of by our team already and will be paid onto your account." Hope this is helpful.
I have never owned a share that's paid out a dividend so I am happy to hold my hands up here and thank other posters who have provided reassurance.
However , not for the first time AMCs own RNS release have confused matters
Gazz. Your quite right about the management not wanting to list. Listing provides access to capital. And further that you may have missed earlier, not just access for further capital but a chance to keep the gravy train running. Surely though their needs to be wage cuts, resignations etc. Its going to be a tiny company so wages should be pegged to similar. Maybe better for all they delist and return the remaining capital?
Good point. Just checked HL auto reinvestment rules as cannot select on individual share basis. Fortunately it's set to maximum £1000. Phew!
Like Gazzleberry suggests it could be very good to hold on to the residual shares. There is far more value doing so than selling out now at this price. Take the 1.8pence and keep the remaining shares for further value.
Wakey
If there is no reverse take-over and offer made for the rump of the company which is a cash shell and listing, there will be a 2d dividend. The whole purpose of a reverse take-over is that it remains listed. So by AIM rules, it has to do a reverse take-over or delist. If it delists it returns the cash remaining in a 2nd dividend. Gazzleberry says it cannot see the company delisting. Yet it will delist if a reverse take-over does not appear. Any cash remaining will be returned. It could be anywhere depending on how much has been spent, 0.3 - 0.4 pence. A listing will add some value to a purchaser. Yes someone will want to make an offer for the company as it is an easy entry into a listing. That entry will allow any future purchaser access for capital. We could have company that enters into a new direction or get more cash back. Total value is 2.2 pence to 2.4 pence n
The last two days conversation clearly shows most holders of AMC don't normally hold shares that pay dividends!
The RNS was as usual for AMC 'clear as mud' Loads of un necessary info and no clarity on whether the payment being a capital return. All very begrudging I guess as Robbing can see his gravy train pulling out of the station without him!
As far as getting paid goes, it's simple, unless you hold a paper certificate you don't need to do anything.
Any one using T212 here is the reply I've just received.
Thank you for the email!
We are aware of the event and will process it accordingly.
Below you can find the event data we have.
Once our intermediary processes the event, we will do so as well. In-app notifications will be sent also.
... we should all have something paid out