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Gneissifyoucangetit@gmail.com
There are now 24 members in the group with combined holding of 58,295,822 shares so 58.295% of hitting the first target of 100m shares.
AGE
What is your email
Isphahan,
Please email me to join the group.
Thanks
AGE
I can contribute 3,428.949 shares
Age.. wow u sure kept tabs on pfc.. whats ur view in next 6 months... What else are u watching with multi potential. Oxford bio is huge disappointment. With a board that could sell and make deals could have been better. Sad considering how many would benefit from accurate psa test.
Still waiting for amc board to clarify tax treatment of special divi capital return, and provide details of their new investment.
So not clear Age..I am not an accountant!
So you have a company that never made any money, buy shares over a long period whose average value is 12p, when they are around 3p part of the company sold and money returned as a special dividend, isn't that capital returned? When the shares are sold lets say for 1 or 2 p then the part of the company sold is part of the capital LOSS, how could tax be due on a capital loss.
My dividend stream dealing account exceeds the div allowance. After covid and the war self empincome is now only 15k, the tax on the LOSS would be more than I earn.
Hi gwm121,
I suspect HMRC will argue that the special dividend is income in the hands of shareholders so the excess of the
special dividend above the annual dividends tax free amount will be subject to UK dividends if the shares are not held in an ISA or other tax wrapper.
If it is a return of capital rather than income in the hands of shareholders then if your share purchase prices are higher than the special dividend amount of 1.80 pence per share then the 1.80p is deducted from your purchase price to arrive at your tax base cost when you eventually sell your AMC shares.
e.g. If you bought shares at 3p then the tax base cost is reduced to 1.20p per share which is the 3.00p per share price less the 1.80p special dividend that you received.
PFC raced up to a high of 30p this morning but is now down compared to yesterdays closing price!
AGE
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Hi age thanku for conformation.
Do you mean here that a capital return special dividend has extra taxes on it .....
Wish I had this mones, rolls royce glaxo casian oil petrofac all roaring up
Hi age thanku for conformation.
Do you mean here that a capital return special dividend has extra taxes on it .....
Wish I had this mones, rolls royce glaxo casian oil petrofac all roaring up
Shareholder Share Action Group update
There are now 20 members with a combined holding of
53,426,259 shares so 53.426% of the way to getting to our first target of 100m shares!
I would encourage any AMC shareholders who have not joined the group to do so.
As AMC is a BVI Company it requires 30% or more of shareholders to request the Board to convene a General Meeting rather than the 5% threshold which is needed for a S303 request in the U.K.
AGE
Weekend update and we now have 17 members in the AMC Shareholders Share Action Group with a combined holding of 45,730,797 shares so 45.73% of the way to our first target of 100m shares.
If you want to join a group whose aim is to act in the best interest of all AMC shareholders as well as pooling our collective knowledge then contact me using: gneissifyoucangetit@gmail.com
We are still all waiting for the Board to get their head out of the sand and spring into action and provide us with tax guidance on the tax consequences of their decision to pay shareholders a special dividend of 1.80 pence per share.
Not long till the end of the 2023/2024 tax year end which is the 5 April 2024 and when AMC shareholders submit their tax return they are going to need the Board to have a tax document on their website.
A reminder that foreign dividends are subject to UK dividends tax if you are tax resident in the UK and you do not hold your shares in an ISA or other tax exempt wrapper.
Amur Minerals is domiciled in the British Virgin Islands so the special dividend is a foreign dividend as it is paid by a non UK Company.
The special dividend was paid on the 14 June 2023 so it is now 9 months since it was paid and the Board have not still not provided shareholders with tax guidance! If they have not done so after all that time then it would seem as if they are not going to do so.
Imagine paying a special dividend of $27,121,700 converted into Sterling and not seeking advice on the tax consequences of doing so!
AGE
Basically they are taking the water and have done for many years now, we must stop the gravy train before there is nothing left for us. I will also be voting to have the company wound up and my measly pittance returned. They really are the worst of the worst. AGhhhh
Let us all know if you receive a reply!
I have contacted AMC a number of times via their messaging system and have not received any replies.
Perhaps Robin Young is too busy laying in his hammock in the sun in the BVI to have time to respond to shareholders!
I have never come across such a laid back CEO in that he has not provided a contact email or bothers to respond to shareholders after having messaged him via the AMC website messaging system!
I would be interested to know if any shareholders have ever received a reply from him apart from him turning up once a year for the AGM.
AGE
Crazytowner most AIMCorporate Mission statements are not worth the paper they are written on!
They include statements such as creating shareholder wealth, acting in shareholders best interests!
My experience of investing in AIM shares is that it is the complete opposite of that stated!
Let’s get the combined group shareholding to 100m then 200m and let’s collectively pool our knowledge and experience in AIM shares and empower AMC shareholders for our mutual benefit we own the Company and the Board are our servants and not the other way round although so far they have treated as such!
AGE
Age,
My recent emails to the company have requested the second dividend payment and the winding up of the company as the deadline for the RTO and shareholder approval was 8th of March per the Kun Manie sale RNS's and more importantly the corporate mission statement on the Web page.
I have copied the Nomad into my emails as it doesn't seem right that such deadlines can just be ignored under the guise that there maybe something in a few months time.
I think the BOD have completely lost touch with their shareholders. I will vote against a pharmaceutical RTO should it be presented. However, I am hoping it doesn't get that far
I think people will focus on the conversion level of the new shares issued, at least to start with. Which should look decent, as they're setting the valuation levels, so they could set it anywhere in theory. The problem will be how the market sees those valuations when it starts trading. It's going to be difficult to weigh up. If it happens!
In light of the information in my post below I would encourage you to join the AMC Shareholders Share Action Group so that we can collectively consider the RTO document the Board are going to issue and then each of us can individually decide if we want to vote for or against the RTO!
Even if we vote to approve the RTO it does no harm having a large and strong Shareholders Share Action Group as we can pool our knowledge and we can hold the Board to account on issues such as why is Robin Young being paid 315k USD pa and how many hours per week does he work for that money.
There are far too many CEO’s being paid relatively large sums of money compared to the market value of the company they work for and they only work part time as they are on the Boards of a number of different Companies!
AGE
The RNS re the RTO states the following:
Pursuant to the HOT, Amur would acquire the entire share capital of the Target in return for the issue of new ordinary shares in Amur (the consideration).
I will wait to see what information the Board issue re the HOT but on the assumption they issue an additional 100% of AMC shares to acquire the RTO then it will mean that existing shareholders share of the cash remaining in AMC will reduce by 50%.
Now unless the RTO target has an equal amount of cash as AMC or it has realisable assets that can easily be converted into cash then existing AMC shareholders will end up being seriously diluted.
Let’s hope that the Board of AMC have not chosen a Company with some pie in the sky innovative drug delivery system.
When ever you read the words innovative it usually means risky!
There are many examples of these sorts of novel drug development Companies or drug delivery Companies on the AIM market.
If you think about it if the RTO Company was such a great opportunity why did a large Pharma Company not acquire it why did they wait for the Board of AMC to come along and use our cash to be the RTO Companies saviour!
The Board of AMC did not even bother to seek shareholders views on whether we wanted an RTO or a second dividend neither do they bother to respond to shareholders messages or even provide a contact email for the CEO!
They clearly do not demonstrate any form of manners towards their shareholders!
As a reminder they have still not provided shareholders with tax advice re the consequences of their decision to pay shareholders a special dividend.
Compare that to the Board of Fuller Smith & Turner PLC who returned cash to its shareholders and provided comprehensive tax advice and worked examples to show the effects of a return of capital.
AGE
I see that Tom Winnifreth and Nigel Somerville are keeping up their good work via the Share Prophets website.
The sheriff and deputy sheriff do some great research and they expose the shenanigans that go on in the AIM market.
There is a mention in Tom’s bear cast about our AMC Shareholders Share Action Group!
Long live the sheriff and deputy sheriff!
AGE
I did say that I would give an update re our group each weekend but seeing as the Scirocco Energy (SCIR) group with the support of GP Jersey was so successful in achieving a 80.19% vote of favour of a return of cash to shareholders via a member’s voluntary liquidation I thought I would give you an early update.
There are now 15 members with a combined holding of 43,916,203 shares!
If you want to join our group then email as the more the merrier they say!
AGE
Sadly I am a pauper (£4k+ invested) ...and more so with my involvement here at AMC...888,888 shares worth zip.....(more sadly is that about 40..out of 50 shares in my portfolio follow the same pattern!)...I'll copy this and paste to your email to be included Agneissearner! ATB.
If you want to see what can be achieved when shareholders form an action group then look at the Scirocco Energy (SCIR) LSE forum and you will see that our group managed to get an 80.19% vote by poll for a members voluntary liquidation so that the remaining cash in the Company is returned to shareholders rather then the Board frittering it away!
The Board advised shareholders to vote against the resolution!
AMC shareholders group now has 13 members with a combined holding of 38,627,315 shares.
Contact me if you want to join the group and let’s empower AMC shareholders!
AGE
Sadly it would seem that the deed is already done
MD
MD I was aware that the first letters combine to make a well known word!
There is a different vulgar word with the same meaning and the purpose of the group is to ensure we do not end up like it which has happened to a large number of AIM shareholders!
AGE
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Perhaps a rethink on the name,rather that the constant speculation is in order
Share
Holder
Action
Group
MD
Second weekly update on the Shareholders Share Action Group
There are now 12 members with a combined holding of 35,714,793 shares so an average holding of 2,976,233 shares per person.
I am grateful to the AMC shareholders who have contacted me.
If anyone else wants to join then contact me using gneissifyoucangetit@gmail.com
AGE
Perhaps a rethink on the name,rather that the constant speculation is in order Share
Holder
Action
Group
MD