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It's a good point, -- I, too, expect, the deal to be completed by then!!
Was hoping to glean anything from the team regarding the RTO, and the future, has the BOD got anything left in the tank for me to keep my holding after the div is paid!!
I don't think there will be much attendance, there is very little to update on. Hoping the banking issue gets resolved by then....
Haven't been to one in ages. Time to look RY in the eyes (trying not to poke them into his skull ) and see what he has got left!!
Did you read R5?
"It should be noted that passing of this resolution would not result in the automatic acceptance of a future RTO, for which further shareholder approval would be required."
TDT
Voted against R5. Don’t trust RY. Just want out as soon as the sale is done but suspect RY is looking for ways to keep this gravy train chugging along for as long as he can and not put any reward into the pockets of pis. Also think the banking problem should have been known about in advance of when we were informed. Is it playing into RY’s hands?
Sorry false alarm my broker went amber..
RNS on the way ??
Thanks TDT.
I voted For Res 1-4 and Against 5. I think RY does need to stay just for continuity and see the sale through, though far from happy with performance, esp the latest fiasco with banking.
Short-term goal is just to see the divi land in my account and reduce my loss, having got in at 3.79p.
Further on, would obviously like to see a meaningful RTO that gives us some more value on top of the SP but I think a lot of cash shells just end up being de-listed. If that happens, I assume any value left is given to shareholders, if the BoD hasn't sucked it all up in 'salaries'.
2 minutes silence
That's better than being up trouser legs.
TDT
...I think things are up sleeves and I can't decide if I like that or not.
I don't think they will use the shares to raise more money. I'd expect them to use the shares to acquire another project. The cash in the company plus the value of what ever it is they RTO I'd expect to be more than 0.5p per share. It's the value of an already listed entity to an unlisted project that makes Amur valuable. A listing is not cheap, is time consuming and involved. The listing alone plus the cash in the bank would, under normal circumstances, value Amur at more than 0.5p (cash value). Since it's Amur I have a feeling it won't.
TDT
TDT
Thanks TDT for your knowledge and thoughts.
It means that they want the authority to issue up to 200m more shares if they feel the need to. Resolution 5 would give them the authority to side step the requirement in the Mem&Arts to offer any future share issue to existing PIs. Its fairly standard stuff and all/most listed AIM companies do similar so its not out of the ordinary.
"Does this represent a risk to shareholders in terms of the residual value of the cash shell....."
I would say yes but that's just my take. If they are going to do a RTO after Kun Manie has been sold they'll need to offer the take over target something and the best thing they can offer is shares in the company.
TDT
Any experts out there able to help me decode what resolution 4 actually means. Does this represent a risk to shareholders in terms of the residual value of the cash shell after the 1.8p dividend is paid (hopefully), or is it likely to stabilise/enhance the residual value?
I think you are correct Gazzleberry. This apple cart is looking very wobbly right now and to push the driver off right now (irrespective if how competent you may think he is) could be an act of extreme folly.Only once I receive my 1.8p dividend would I be more comfortable in considering forcing a change.
Thanks for updating the Amur website manylizards, much appreciated ;-)
TDT
Not sure the deal would dissappear without RY tbh.
Cheers Liz.
On the right, under Notifications:
https://amurminerals.com/aim-rule-26/
Where are they on the website
Or maybe they simply weren't there until mid morning,
TDT
It took a sleeper poster to find n post the resolutions :-)
I don't fancy the chances of resolution 3 passing
Its here
https://amurminerals.com/content/wp-content/uploads/2022-Notice-Of-AGM.pdf