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How much money does AMC have?
Will an RTO completely devalue our shares?
Agneissearner
I definitely see the importance of a shareholder club of AMC. First to force an GM and to immediately put forth a requisition and resolution to vote down this RTO. Or either get prepared to vote no when the management calls for a vote. Either way. It would be a no for me. A vote for a full return of Capital while there is cash left.
Add 5,000,000 to the vote no campaign.
Do shareholder really want this management to continue the gravy train and in time do more dilutions? Surely it is a vote for the return of capital to shareholders. Nothing less. Shareholders got to unite.
Thank you Agneissener for organising this.
Gwm121,
I watch an interesting Youtube channel every week and it is called Portfolio Matters and the two guys who present the video review important economic events in the US/EU/China/UK as well as the commodities market/precious metals market/oil market and various different stock markets.
They also produce a graph that shows the movement in the price of Uranium which has risen a lot in the last 3 to 6 months or so.
The fundamentals for Uranium are well supported by the need to fuel nuclear power stations but buying uranium ETF's or shares is all about timing and then riding the wave.
The graph shows Uranium has peaked for the time being and is retracing whether it will surge higher is million Dollar question!
Oxford Bio and the likes of Sareum, ValiRx clearly demonstrate that small early state drug development companies and drug delivery Company's are extremely risky and the share price is very volatile.
This presents an excellent opportunity for the CEO of an AIM Company to be involved in an RTO where AMC's shareholders cash can be used to fund the RTO Company's drug delivery technology while receiving large numbers of out of the money share options so that if the technology comes good then he makes millions but if it does not then AMC shareholders take all the risk and end up losing all their money.
Large Multinational Drug Companies such as Astra Zenneca and Glaxo etc have very deep pockets and can take the risk on cancer drug development but realistically how many small UK cancer drug development companies or drug delivery company's will come good?
AGE
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Age.. its possible that if amc see this thread they might take greater care with shareholders interests in order that rto doesn't get voted down. A good rto would be much better than "special div capital return"
nb I moved my nickel etf profit into urnp uranium etf in the summer, As there is a known shortfall. So far only 10pc up, are u in uranioum? Any thoughts? There has just been a new uranium miners etf created.
Anyone in oxford bio? A group of scientists created a non intrusive psa addon test.. told the market they done a trial 98pc accurate... 6 months later results show they sold very few. mmm amazing story and a board hugely experienced in their field and not capable of finance deals sales, jobs to familly,... sound familiar ?????
Gwm121,
The paragraph copied and pasted below from the RNS states that they entered into a HOT on 25 January 2024 so formation of our group happened after that so it is not going to influence the Board's decision to do an RTO with that particular Company.
"The Company entered into a heads of terms agreement ("HOT") to acquire a UK based candidate in the healthcare sector (the "Target") on 25 January 2024. The Target is a UK-based pharmaceutical company which has developed an innovative drug delivery technology to improve the clinical performance of cancer treatments for solid tumours through the local delivery of chemotherapy."
The fiduciary duties as a director reflect a relationship of trust and loyalty between yourself, the company, its members, and stakeholders. The expectation is that you will act in good faith, and in the best interests of the company.
Once the Board have issued more information re the RTO then shareholders will be able to judge if the Board have acted in good faith and in the best interests of the company or whether they have acted in their best interests by ensuring that the CEO keeps earning large amounts of money by being appointed to the Board of the RTO Company.
I expected the Board to ask shareholders to vote on whether the remaining cash sould be returned to shareholders via the payment of a second special dividend or whether the Board should persue an RTO.
I had not anticipated that they would have spent a lot of time and spent large sums of money looking for an RTO and and then letting shareholders know so that is is a fait accompli.
Having a large number of members in our Group allows us to challenge the Board on the level of remuneration that Robin Young is paid as the accounts for the year ended 31 December 2022 shows that he earned $316k.
Some AIM Shareholders attend Annual General Meetings and vote to approve the accounts but very few of them ask the CEO's probing questions such as how many hours a week do you work to earn $316k pa, what have you achieved during the year, have you managed to create shareholder wealth etc.
AGE
Age.. its possible that if amc see this thread they might take greater care with shareholders interests in order that rto doesn't get voted down. A good rto would be much better than "special div capital return"
nb I moved my nickel etf profit into urnp uranium etf in the summer, As there is a known shortfall. So far only 10pc up, are u in uranioum? Any thoughts? There has just been a new uranium miners etf created.
Anyone in oxford bio? A group of scientists created a non intrusive psa addon test.. told the market they done a trial 98pc accurate... 6 months later results show they sold very few. mmm amazing story and a board hugely experienced in their field and not capable of finance deals sales, jobs to familly,... sound familiar ?????
Per the Memorandum and Articles of Association the rules re voting are as follows:
At any meeting a resolution put to the vote of the meeting shall be decided on a show of hands by a simple majority unless a poll is (before or on the declaration of the result of the show of hands) demanded:
(a) by the Chairman; or
(b) by any member present in person or by proxy and holding not less than one tenth of the total voting shares issued by the Company and having the right to vote at the meeting.
51 Unless a poll be so demanded, a declaration by the Chairman that a resolution has, on a show of hands been carried, and an entry to that effect in the book containing the minutes of the proceedings of the Company, shall be sufficient evidence of the fact, without proof of the number or proportion of the votes recorded in favour of or against such
resolution.
52 If a poll is duly demanded it shall be taken in such manner as the Chairman directs, and the result of the poll shall be deemed to be the resolution of the meeting at which the poll was demanded. The demand for a poll may be withdrawn.
AGE
It is the end of the first week in creating an AMC Shareholders Share Action Group and 5 people have contacted me so far so there are 6 people in the group including me with a total shareholding of 25,771,987 which equates to an average shareholding of 4,295,331 per person.
Assuming the average continues to be 4,295,331 then we need just 24 members to meet the target of having just over 100m shares and 48 for 200m shares.
These are substantial shareholdings and as the majority of shareholders do not vote then it is possible to influence the results of voting on resolutions via a poll rather than a show of hands!
Going forward I will update you on the number of members and total shareholding at the end of each week.
Let's wait and see the details of the RTO so that we can individually decide what we want to do in terms of voting for it or against it but in the mean time let's increase the number of members so that we are prepared should we want to vote against the RTO or any other resolutions that we do not agree with.
AGE
David, Bitcoin is good. However, the challenge lies in determining the right time to sell. I won't write any more on this board as I believe it is bad luck. In fact, I would be much happier if the listing disappeared.
Aster, I'm surprised you still have 4.5 million here...lol.
Thank you Astar.
Now 5 in the group with 24,271,987
Lets get it to 100m then 200m and then the sky is the limit, well 1,392,872,315 actually as that is the total number of shares in issue.
The Board own shares and I have a feeling that they will not join our group as what AIM Board likes to be held to account by it's shareholders?
Well the answer is "None"!
AGE
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Age,
Count me in with my 4.5m shares
.
Age,
Count me in with my 4.5m shares
There are now 4 members in the group with a combined total of 19,771,987
I would not be surprised if we eventually hit a combined holding of between 100m to 200m!
AGE
We now have 4 in the Group with a combined holding of 19,771,987
I would not be surprised if we eventually hit 100m to 200m!
AGE
TheChessMaster thank your for your response.
I must congratulate you on your ability to be able to respond to my question and then side step the point at issue which is that the AMC Board did not provide their shareholders with guidance on the return of cash to the shareholders via the payment of a special dividend.
If you are thinking about a change of career then you have clearly demonstrated that you have the necessary skills to be able to work for a public relations firm!
AGE
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Aggneiessearner; I have no comments on the tax guidance issue, all my Amur shares were held in an ISA so the subject has no revelence or interest to me. Sorry I cannot be of any assistance in the matter.
Aggneiessearner; I have no comments on the tax guidance issue, all my Amur shares were held in an ISA so the subject has no revelence or interest to me. Sorry I cannot be of any assistance in the matter.
Age,
good idea to be fully prepared, however, will not be joining you until I hear more about the RTO.
There are now 3 of us including me in the AMC Shareholders Share Action Group and we own a total of 16,771,987.
Roll up roll up is there anyone else who wants to join us?
Power to the AMC shareholders!
AGE
Hi gwm121 thanks for that.
My email address is gneissifyoucangetit@gmail.com
If any one else is interested in joining an AMC Shareholders Share Action Group then send me an email and let me know how many shares you own and I will create a spreadsheet that contains members email addresses and their share holdings.
I will then let you all know the total amount of shares members own.
I will not share members email addresses with anyone else and when communicating with members I will send the email to myself and then blind copy all of you so you will only see my email address and no one else's.
AGE
Agnes Please respond to this thro away email and I will send you my em.
My throaway em gwm133@hotmail.com
Folks, agness will put a lot of work into the treatment of special div capital return. when he gets a ruling we can all benefit from this. He has asked for emails for a group for this and forthcoming amc antics.
My view on return capital or rto is that if negotiated on good terms the rto is better as shares can be sold including the new higher value than cash. The problem will be, is amc board interests aligned with shareholders interests.
If a special dividend is given to return cash this take time.......... !&! and amc may not be clear on the tax treatment.
The ChessMaster you are very quite recently?
You posted long detailed replies to encourage people to vote against the resolution yet when I raised the question below you have not responded.
I would be interested to read your comments re the the Board's failure to provide guidance on the tax implications of the special dividend.
AGE
David85,
Read the RNS's issued and you will see that AMC paid a special dividend of 1.80 pence per share and it was credited to my stock broking account on 14 June 2023.
AGE
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Slowlyslowly, thanks for the reply.
Is this accurate information you are giving?
I dont see why I shouldnt be able to track down the dividend or share count, as my broker has held my shares for a long time.
Did you receive an email or letter for this? I didn't get anything.
My shares just show as £0 in my account.
Crypto has no intrinsic value and trading in it is dependent upon a bigger fool than you buying it from you!
Imagine creating crypto currency and then people are willing to pay you their hard earned currency in exchange for something that was created out of thin air.
A lot of fingers are going to eventually get burned!
South Sea bubble yet again, amazing the way people do not learn from history!
AGE
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If you guys are not paying attention to crypto, I advise you to watch this enlightening debate between two Billionaires
A BTC holder Versus a Gold Mine Operator.
[LINK REMOVED]
Youtube coHC_9ApBdg
If you guys are not paying attention to crypto, I advise you to watch this enlightening debate between two Billionaires
A BTC holder Versus a Gold Mine Operator.
[LINK REMOVED]
Potatoehead, Long time.
I recall KOD being talked about here around 3 years back.
For now any new investments of mine are strictly within the crypto space. I cant stand the corruption on AIM and the banking system in general.
Back to AMC, you did well to only lose £6400.
You must have put up with the paid AMC shill who was here daily to promote AMC by any means, a complete fraud... forgot his long username, it will come to me.
Anyway, what do you think about slowlyslowly post, is it true holders are due a dividend, or just wishful thinking like the AMC project always was?