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may have something to do with the convenient delay in completing the transaction. The completion starts a countdown with a definitive end.
Basically it's "free" by virtue of two impatient transactions......firstly them that sold out over the last two weeks that had had enough and these shares were snapped up by them ones with "amazing foresight" and secondly most of them have now sold out early happy with their £thousands of profit and having no desire to remain patient for up to 91days.....they are happier to profit from their next "amazing foresight" deal.
So we as the honest "patient" with no "amazing foresight" will profit by 50% or more from today (or claw back some or most losses as LTHs...been there many times with many shares and indeed still am with 25 holdings)...
Good Luck whatever the situation......certainly we are in a better position than this time last week!
FREE!!
1.8 pence divi and return of capital. 0.5 pence residual value. Total value: 2.3 pence.
Its like taking candy from a baby.
I checked AMC out on Stockopedia and I was quite surprised they did not get any red dots at the top of the screen.
28 Quality
27 Rank
Got a "neutral" rating which is much better than the "Sucker stock" rating many similar AIM mining stocks get.
As for finances, again, pretty good even before the recent sale:-
Cash = $5.3m
Debt = - (minus) $5.3m (so no debt)
2022 Net profit (minus) -$3.3m on $0 revenue, but forecast revenues were $24m with a $9.1m net profit.
All in all a lot better than I was expecting. Let's just hope the cash arrives...
DC, it's quite simple.
The money they'll receive for selling Kun Manie exceeds 1.8p - they're not paying all of that consideration out as a dividend. That's one chunk of the extra.
Then, their cash balance is non zero even before they sold their asset. So there's cash they already held. That's the other chunk.
Once they've received the money that we heard today has been sent from the buyer's bank to ours, the cash they hold will be about 2.5p per share. Of which 1.8p will be paid as a special dividend.
After they've done so, they'll have cash about 0.7p per share. That's either funding to use as a shell to help complete a reverse takeover, or cash they could return to shareholders if they dissolve the company.
So they need to find a company for the reverse takeover, negotiate with them, prepare and publish the admissions document, sell it to shareholders , get it approved by shareholders and complete the deal, unless the have the first 2/3 on the boil already going by past performance on AMC timelines that is going to be a difficult task, appreciate any others experience of similar transaction timelines.
From todays RNS
The Company will be required to make an acquisition or acquisitions which constitute(s) a reverse takeover under AIM Rule 14 on or before the date falling six months from the completion of the Disposal, or be re-admitted to trading on AIM as an investing company under AIM Rule 8. Failing that, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. If the Company's shares remain suspended for six months, admission of the Company's shares will be cancelled.
Pursuant to Rule 14 of the AIM Rules, a reverse takeover transaction would require the publication of an admission document in respect of the proposed enlarged entity and would be conditional upon the consent of shareholders being given at a general meeting.
Market conditions may have a negative impact on the Company's ability to make an acquisition or acquisitions which would constitute a reverse takeover under AIM Rule 14. There is no guarantee that the Company will be successful in meeting the AIM Rule 14 deadline as described above.
dc13769,
I seen your post of 5 years ago....... so you've been an AMC investor for around 15 years and you've read today's RNS.
What you appear to not understand doesn't make a lot of sense to me....Your post below 5years ago suggests laziness but I think there is more to it than that,
Be careful investing if you cannot comprehend stuff! IMO only and Good Luck/ all the best!
"Cheers, just got fed up looking for details in the last 10 years!! Lol
Thought you avid researchers could keep me posted. "
The cash left after the1.8p dividend should equate to up to 0.7p per share. That post dividend cash to be invested in a new venture by way of a RTO or, if one cannot be found, then potentially returned to shareholders by way of a further dividend etc Just need the cash to land, hopefully RNS to follow tomorrow or whatever RY means by imminent
Seen the 1.8,,p dividend which is welcome but also seen a post saying that an additional 0.3p and then 0.4 p giving a 2.5p total.
What the additional?
And will shareholders hold shares in the new company that can be traded?
Any value to the new shares if anything is got out the ground?
Read RNS but couldn't really find anything apart from the 1.8p
LOL what do you think we’ve all been worrying about these last 6 months or so. The RNS today puts those worries to rest although of course we will all be happy when the money lands at AMC, it’s already left Barings account (the purchaser) so the funds are currently in transit if I understand correctly
have you actually read the latest RNS? It answers all of your questions
Suggest you read the RNS. I think we can assume the money is where it should be.
I want to invest because of 1.8p dividen.But very nervous because of their asset is in Russia.Can they get the money out of Russia to pay dividen
bankrupty
I hope it will work out for you and everyone else.
Personally, given the geographical issues and poor management/performance record I would not.
Perhaps I am not a gambler after all?
I do get the risk/ benefits idea though......other places that are safer will offer better rewards, on balance, in my view.
But, that's my choice
I would never "go all in" to anything etank.....but a gambler probably would.....I have put a lot of money in today and it will hurt badly if I lose......but I'll survive ! Don't intent to lose but!
hoping for another rns tomorrow morning saying money received already!!
1.8p plus 0.3p plus 0.4p coming to 2.5p within 90days!!!
current sp 1.6?
50% upside straight away with the money received RNS and dividend announcement.
once payment received and company started putting money in shareholders accounts, then no further dividend to new buyers.......
maqsood7,
If I was that confident I would go all in - will you?
Please tell us.
No thanks!
gap up tomorrow!!
people will be getting in before close..........
mms hold the price nicely today,will make people pay higher tomorrow!
Are you getting the 1.8p? Or that seems too easy?
I cant buy it on HSBC so I guess I will miss getting the cash GLA and hope you all earn a lot.
Share prices never go negative.
Hopefully the $35m will hit the bank account account today and so there should be an RNS to confirm that.
$35m converted to Sterling at 1.20 USD to the £ is £29.16m.
There are going to be legal fees etc to pay for the deal so they have to be deducted from the 35m USD.
At 30 June 2022 AMC had 5.341m USD of current assets and 1.385m USD of liabilities so a net 3.956m USD and will have spent money since then so say 956k USD spent including legal fees for selling then that leaves 3m USD at 1.20 equates to 2.5 m Pounds
29.16m plus 2.5m is 31.66m pounds and there are 1,393m shares in issue which works out at 2.27p per share
AGE
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I don' think they could get away with backing out of this but I thought when a divi is paid, the SP has to reduce by the same amount? If that happens while the Ask is 1.665, does the SP go negative and they have to pay us for taking shares??? Only kidding of course but does anyone know?
I'm counting on getting the 1.8p special dividend Tarquin34.....if I don't I've made a big mistake today which will ultimately cost me a lot of money...lol...GLA