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It's looking more and more doubtful I think plus some big 6.5 K sales today
Is there now a growing possibility this deal won't go ahead? How long would it take to change bank accounts etc to somewhere that will take on the transaction?
The silence from RY is not in the least bit surprising but it is most definitely ominous...
I notice the Ask has dropped from 1.65 to 1.495. Pulling the Bid down with it. Possibly to deter sellers. I suspect the payment wont be received this year. Lengthy delays are not unusual here.
Agree with what you say Geng, but still doesn't support others views that RY may be in no rush to complete and bank the cash.
As private investors in AIM, we can probably all agree that the first sign that completion is imminent will be the flood of buys. I wish I had one of those crystal balls!
Drmike33,
There is no urgency on the part of Spivlov, he originally wanted to spread the payments over 5+ years and RY has no choice, so can't see any reason why/how it would collapse.
Ironically one unlikely thing could happen, Putin gets lead poisoning and his futile WAR ends. Different ball game then, as a counter offer may come along. In this case I would guess the current contract to sell could be voided as it hasn't completed in time but the timings just aren't there. This is because there is no need for a convoluted route for the money they just need a bank that is compliant and AMC's wasn't. I would suggest we are now very close to getting the KYC completed with our new bank, most estimates were 2-3 weeks, so could be any day now.
I'm sure we'll see some largest trades go through just before it's announced.
Drmike33
Agreed.
TDT
I don't believe for 1 second that RY is deliberately trying to delay the payout by preventing the buyers cash from reaching the AMC bank account.
The fact is that receiving sanctioned Russian cash into a UK or other western bank account, either directly or indirectly, risks huge financial penalties for the financial institutions.
The key word here is "indirectly", and western banks are clearly and understandably being very cautious.
By example, just because Russia continues to trade with countries like China and India doesn't mean that cash can be transfered from Chinese or Indian banks to the UK without a clear audit trail.
This is a massive challenge for RY; arguably something that should have been thoroughly investigated in advance, but equally something that could not necessarily have been tested.
The longer this lack of update goes on, the more likely this deal may collapse in my opinion.
Of course RY is trying to delay the payout.
In his deranged mind it’s his money and he’ll do anything to drag it out and keep paying himself a wage.
His track record speaks for itself.
Remember he recommended we sell and get nothing so he and the other useless muppets could live of the proceeds.
Russia is still dealing outside the country. Buyers of Oil are receiving a 30% discount. There’s plenty of ways, issue is conducting the transaction within Western allowances. And or the authorisation. The sanctions are on Russian Citizens not Western companies abiding by the sanctions & deposing of assets. Just needs the stamp of approval & the RNS will be there in the morning.
If the war ends today sanctions won’t end for some time
I'm not surprised. Best we can hope for is for the war to end asap.
I've given up worrying about this one.
Surprised we’ve not yet been told of a solution to this. It’s a significant sum so surely there’s a bank somewhere that word happily handle the transaction.
Anyone else worried RY is going to try and find a way not to pay out the dividend? Or find a way to delay it further?
Prolly Rollovers
Couple of nice buys just gone through
Finished up about 6%
currently + 12.41%
Nicely..
Two missiles apparently landed in Poland. Russia claims it's not their missiles.
Gaz,
Thank you for making me laugh on this gloomy day.
All of two trades, granted both buys, but a total of 438 shares.
Lol
Don't think I'll be going. Couldn't face that arrogant p@##k Paul Gazzard sitting there chewing his gum arms crossed with a face like a slapped **** again. Did enjoy chewing the fat in the pub though.
Thank you, same as usual then. Hope to see you there. CBS, are you going? I think I owe you a pint.
MD, if AMC is still alive, I will be there, I will bring popcorn!!!!
EIDR- usually I contact HL (or however the nominee is) via a secure message to say I wish to attend the AGM. Normally they send you a letter signed providing proof to the company at the meeting that you are a valid shareholder, this letter allows you entry.
I would look to go again, do we have to register to be there? Will anyone else consider going?
The only thing the bod have is a very very thick skin and an extremely devious nature.
What ever you read from their demeanour or their comments is what they want you to read at that time on that day.
Their one true talent is covering up their own ineptitude.
Our only hope is that they will honour the 1.8 divi.My intention is to get that 1.8 p and keep the shares so I am able to go to next years agm to tell RY what a T*#T I think he is and then hopefully vote him off the board
MD
If that is the case Gazzleberry, that would be a good reason for me to attend and voice my concerns, putting it politely!!