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It must be too late now. Unfortunately, I fear the announcement is going to be very annoying and vague, with no time line to anything. Best case would be a return of cash, but even that feels unlikely.
There maybe a so called mitigating circumstance to extend the suspension, ie Potential RTO DD to finalise the deal. However, unlikely scenario for amc!!
Good luck everyone.
Are there any rules on how long we are given to vote on a decision re take over etc
Could RY be playing a cheeky game to post an update so close to deadline that we don't get time to vote or not enough voters?
We might as well just say goodbye to AMC now because we are practically out of time. 1 week!
It says delisting on the 8th in the results. Maybe the option they'll go for is to delist, the pick up an asset to develop, then list on another exchange. That would make sense and be less restrictive than a rto (there's plenty of asset around). Would be a horrible wait for people holding though.
Is Wednesday 06 March our key date?
So Robin Young has a little over a week to reveal whether he is the snake many of us think he is,or redeem himself by pulling something out of his ……………(.no i won’t say it) hat.Most of us feel that he’ll let it de-list and milk it for all it’s worth before distributing anything back to shareholders.
If he does pull something off to give shareholders a lift,it will be a chance to recoup a little of their losses,if he doesn’t he will leave a trail of deceit that is absolutely shameful.
MD
You'd certainly think they would want to keep the listing going. It's becoming more and more difficult to create this type of listed company. Strange just to give it up, but that's the way it's looking.
Only My Take on The Matter But Robin has been Notorious in his Lateness and I suspect that an RTO is Likely but probably at the last possible time legally to announce it...Again Fingers Crossed ....
I think it'll probably be delisting and a "we continue to evaluate options" statement. Which would make no sense, as a listing is a strong point in doing a deal. I hope it's one of the other options, but it's get to the point where people might have to consider how they are going to get some money back.
2 weeks to go for an RTO announced or the company will be automatically delisted. Now will the company return cash to shareholders as in accord with the AIM listing rules and announce this in the next 2 weeks or will they delist and be chased for the remaining cash?
RNS this week or next. Could be a return of cash. Could be a delisting an all the trouble with that. They are leaving it close to announce a deal.
It would not be right for them to delist and continue to take a wage. Looks like they can continue to take a wage for 2 weeks only. When delisted how could they continue to take the large salaries they do?
Will they leave it for the last week or will there be news this week? I go for this week. Its return of cash and the closing down of the company. That is the best route for all. Who trusts these guys with a new adventure? They were never really good. Why let them waste more money an drain the remaining cash? They should end it all. Good luck all. News soon.
Well the major shareholders are all nominee accounts, so it's probably down to loads of pi's not wanting to take action. Maybe it's spread over quite a few and no one owns a large enough amount to feel they can effect things. Frustrating, but I don't have a huge amount in this.
MD, you have a good point there.
The way they do business and that bad smell is probably the reason for no reverse t/o’s
MD
For some reason there never seemed the appetite to replace the board. I had suggested to go down this route several years ago when it was obvious to me the BoD required a change. Not all at once, but every time a board member came up for re- election, I would have voted them out as a warning as to who will be next, to sharpen their focus. The general consensus on here was that might not be a good idea!!!! With hindsight, it might have been! Just for clarification, I bailed out quite a while back, but hope that the reputation of the current board follows them around like a bad smell, severely limiting their opportunities to deceive other shareholders.
Good point. We'll have to see what they release in the next week or so, but people might have to start looking at their options. I just can't believe the larger shareholders are giving them a free pass. I feel in any other AIM share like this (cash shell) there would be efforts to replace the board by now.
Sorry meant to add this too:-
https://www.aabrs.com/services/advice/what-just-equitable-grounds-winding-up-petition/
Doesn't need to be someone with a large shareholding, anyone can start a winding up order.
Or you can issue a claim through the governments "Moneyclaim" for smaller holdings (upto £10k). AMC probably wouldn't even respond, you get judgment, then you can send in Bailiffs to recover your money. I've used this many times for various business supplier and customer issues and it works a treat!
https://www.moneyclaim.gov.uk/web/mcol/welcome
The board of Amur continues to review a number of reverse takeover opportunities. Further announcements will be made as appropriate.
I believe this was mentioned on 7th September RNS
Surly they have had a few companies on thier radar
I can't believe they have not finalised anything yet
Absolute jokers !!!
Would be so easy for them to either make an investment (take part in a placing) or return cash before it delists. Worrying if they think delisting is a better option. Have to wait and see like everyone else. Not confident they'll do anything now.
That's the problem really. Pi's are just sat hoping for the best, while they can just let this situation drift for ages. You'd think there would be someone with a large shareholding that doesn't want to see their money drain away.
With what is going on in the world today, you would think there would be some bargains!! Buyers market, come on team.
Unfortunately there isn't any big shareholders to force them to do anything. It might be a case of finding the private investors that have big holdings (they must be somewhere!) and group them together, if that is possible. Might be the only way to see a return.
23 days to suspension,then I wonder how long the rules say he can hang on to the funds that are left.Will he be able to drag another 6 months salary out of it ? We know those expenses will just keep piling in.
MD
Time someone is having the speaks with Robin...
Robin wake up !!!!!