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Anyone gone to agm?
It commenced at 10am.
As soon as the deal was announce RY said the hurdle was getting it approved from Russia authority, that was done with ease.
Western companies having difficulties getting paid from russian parties, i dont understand why west are punishing own companies.
Im sure this should all be sorted out soon. Its been over 4 weeks since money should have been in amc bank. Shareholders should give him hell at the agm tomorrow, he should really step down for this screw up..
Svidlov wants it for sure but originally he wanted to buy it over a few years so maybe he’s happy to delay whilst RY scrambles shot trying to think of a way to shaft his share holders!
Julian
I dont think Svidlov will pull out, he is gettin an asset worth over 130m for 35m, he will be eager to get this through.
What im annoyed at is that the company was aware of the sanction and getting money out prior why wasnt this thought through before.
Shadowless and anyone else going to AGM.
Can't make it but if I could I would like to know:
1 Have they found a Bank and if they have how much longer do they think the due diligence process will take?
2 If they have not where can I find the legislation re bank transfers from a Russian bank.I have looked online at the Government publication entitled Russian Sanctions Guidance and can't see anything there.
3 If all is well and completion likely to take place soon will we still have to wait up to 3 months for the dividend.As they have had had many weeks to decide how best to deal with the dividend issue I would like to think that by now they know exactly how it will be tackled so that our waiting time will be much reduced.Also when do they anticipate that the shares will go ex div.Will it be immediately after the sale is concluded or at a later date? I would have thought that from an administrative point of view the sooner the better ,so that they know at the earliest point the identities of all shareholders and their holdings,most of which information will have to be provided by Hargreaves Lansdown etc
4 What progress ( if any) have they made re a reverse takeover?
Fingers crossed it goes well although I fear the opposite.
Edit: western companies
Why are western economies making it difficult for western countries to remove cash from russia?
I thought thats what they wanted? Russian govt agrees to disposal, svidlov wants to buy, amc shareholders want to sell..
Such mockery, RY said the target date to get cash was 1st Nov but we are in Dec, if he cant get this through he needs to step down.
https://www.telegraph.co.uk/business/2022/11/08/ex-pwc-partners-form-company-cyprus-russia-linked-clients/
Bering and Amc are both registered in cyprus would be silly not usin Kiteserve.
Well maybe amv can use kiteserve service, they too are incorporated in cyprus.
https://kite-serve.com/
1.15 - 1.50 +8.6%... MMs fishing ??
Thanks ShadowLess,have a super time;)))
MD
The question is will the transfer be authorised during the Ukraine War. If the answer is no, then it could be stats quo for some years to come.
MD
I am planning to go, although waiting for HL to send me what I need to attend, will report as requested.
Anyone still expecting this sale to happen? Or is RY working hard to find a way of making sure pis walk away with nothing?
So is anyone intending to go next week ? Would be interesting to have a demeanour report.
MD
Sorry. I "remember the" Got a sticky keyboard atm.
I remeber that days when RY was regarded as an example of how a good CEO should behave!! How have the mighty fallen.
TDT - lol. I hardly think RY needs any help in triggering a loss of confidence in AMC! It’s very much a case of ‘get me out of here’ as soon as there’s any inkling of that sale happening and RY knows full well unless he can finally deliver something worthwhile for share holders they will abandon him at the first opportunity.
Still in the channel and on Horizontal Support - was a good chance for the real gamblers to buy more - I added more just under 1.2
https://invst.ly/znvr4
The Chart is looking ready for a bounce, so completion could be imminent. I suspect, even though they may have sorted the banking , RY won't confirm completion until the vote is closed (30th Nov) for the AGM. Just to make sure he doesn't get voted out!
My take: What did this for me was Mondays opening UT. There was healthy PI buying last Week raising the SP. Then Monday a UT extracting just over £10k in real value, which equates to £1m in market cap. If I recall correctly this was marketed as a $1.5bn world class asset which has cost investors hundreds of millions to establish, over a 16 year period. Now they can’t even give it away for $35m. Also dilution rears it head & they haven’t even completed this sale yet. So which comes first the chicken or the egg. Payment or Dilution ?. Difficult to guess how this will play out. Stocks usually drop by the value of the dividend but technically this is not a dividend so it should be in addition to the market cap. But what will the market cap be by the time this is paid out ? As I understand AIM Shell Co’s can only remain listed for about 3 years without a business purchase. Too many unknowns for me & far easier to make money elsewhere. I trade for my own benefit not others, so I’ve just made my spread loss back with BOO.
I hope the drop wasn't triggered by a comment I made on the Eurasia Mining board at 11.36 today! I doubt it was but you never know on there bulletin board, especially during these rather jumpy times.
TDT
Probably just reflects the general level of trust the average shareholder has in the abilities of this BOD to overcome difficulties
Yes the volume is there but unfortunately nine tenths of it is sells. Why just today all of a sudden? As usual pis like me will be the last to know.
Just looked like a seller spooked a few more sellers then a flurry of recent buyers picking it up cheap which makes sense to do
This looks like the volume we need - cheeky shake - now where's the news!