The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
For those AMC shareholders who read the LSE AMC board but they have not joined the group yet then you are welcome to do so.
As the saying goes "There is strength in numbers!"
Let's try and hit the Groups next target which is to have a combined holding of 200 m shares!
Please email me via gneissifyoucangetit@gmail.com
AGE
For those AMC shareholders who read the LSE AMC board but they have not joined the group yet then please do so.
AGE
Correction:
For those AMC shareholders who read the LSE SCIR board but they have joined the group yet then please do so.
AGE
Thank you LL Bantam.
Please email me via gneissifyoucangetit@gail.com
For those AMC shareholders who read the LSE SCIR Board but have not yet joined the group then please do so.
If you want to see a Shareholders Share Action Group in action then read the recent RNS's and posts on the LSE Scirocco Energy PLC board (SCIR).
Thanks to the kind support of GP Jersey the largest shareholder our shareholders share action group comprised of 120 members achieved votes by poll of 80.19% for the Directors to put in place a strategy to return cash to shareholders via a members voluntary liquidation and then today we achieved votes by poll of 94.60% and 94.20% to delist the company and turn it into a private Ltd company.
The Board of SCIR have been taught a valuable lesson and that is to make sure that they listen to shareholders legitimate concerns and that they take the appropriate action as shareholders will up the anti if you continue with poor shareholder engagement and you do not produce shareholder value while continuing to receive a level of remuneration based on the basis you are!
Details in SCIR's RNS
Consequently, the last day of dealings in the Company's Ordinary Shares on AIM will be 16 May 2024 and the Cancellation will take effect at 7.00 a.m. on 17 May 2024.
MVL Next steps
As set out in the Circular published on 23 February 2024 (the "Circular"), the process of returning cash to Shareholders is highly likely to be implemented via a members' voluntary liquidation ("MVL"), which will involve a further general meeting being called by the Company in c. 2 months' time to seek approval from Shareholders to appoint liquidators. Existing and prospective investors are encouraged to read the Circular for more information on the MVL process.
AGE
Hi
I haven't really been following this one for quite a while, without checking precisely I'm down to about 500,000 shares which i'm happy to have included in the group action. I'll check this evening and confirm the exact number.
The question is how do you get them to do anything other than the rto? I wish we were in the same position as TGR. Just 5% needed to call a meeting and that's got the board there very worried. Actually quite funny to see their response. Suddenly they care! It's what we need here, but how do you get 30%. Is that the only way to call a meeting?
There are now 44 members in the group with a combined shareholding of 116,992,110 shares which represents 8.184% of the AMC shares in issue.
We have comfortably exceeded our first target of 100m shares so next target is 200m and then 300m with the eventual aim of hitting a 30% holding.
I wonder who will achieve their target first will it be our group or will it be the Board of AMC who will finally manage to issue an RNS and documentation re the RTO with the novel cancer drug delivery system.
I repeat what I have written before if it was such a great opportunity then why has a large pharma company not purchased that company, why have they waited for the Board of AMC to squander shareholders remaining cash on the expensive work that is involved in producing the RTO documentation!
A school friend of mine who works in Corporate Finance in the City of London will be going through the RTO document with me with a fine tooth comb!
If you want to hold the AMC Board to account then keep the momentum going by joining the shareholders share action group that was formed for the benefit of all shareholders as well as sharing our knowledge.
AGE
There are now 43 members in the group with a combined shareholding of 100,992,110 shares which represents 7.2506% of the AMC shares in issue.
We have finally hit our first target of 100m shares!
If you want to hold the AMC Board to account then keep the momentum going by joining the shareholders share action group that was formed for the benefit of all shareholders as well as sharing our knowledge.
AGE
Hi matteyo send me an email via gneissifyoucangetit@gmail.com letting me know how many shares you hold and if they are in an ISA or not
AGE
Evening All,
I’ve been a shareholder here for a while, like most trying to make the best form a difficult market, but watching what’s been going on not only here but in a number of stocks. Happy to join the group to support everyone in getting some resolve. I’ve written this one off tbf but appreciate it’s hit others hard.
EIDR there are 42 people in the group so difficult to remember all of them with out referring to my the spreadsheet and not every one lets me know what their LSE posting name is.
AGE
----------------------------------------------------------------------------------------------------------------------------------------------------------------
I was one of the first to join. 🙂
Guygabois going out for the sandwiches is an important job as no one likes the wrong sandwiches.
All joking aside that was an excellent email that Crazytowner sent to the NOMAD and AMC.
AGE
---------------------------------------------------------------------------------------------------------------------------------------------------------------
Lead the group? I wouldn't send him out for the sandwiches...
I was one of the first to join. 🙂
Lead the group? I wouldn't send him out for the sandwiches...
Crazytowner did you receive a response to your email from either the NOMAD or someone from AMC ?
I bet not!
You did not respond to my message about you joining the group and being the leader if you so wish as you have a 2% holding.
AIM Boards work on the basis that shareholders lose interest in their shares if the Board strings things out for as long as possible!
AIM Boards CEO's modus operandi is to talk the talk all perfectly legally within the rules as they hire expensive advisors to advise them on how to do so.
They carry out a number of highly dillutive share placings at lower and lower prices and then carry out a 1 for a 100 share consolidation and then keep repeating the process all over again.
They may also throw in a change in the Company's name for good measure!
Then the highly paid CEO's have the cheek to tell the shareholders that they have to forget about the past which is very convenient for a CEO who has a track record of failing to produce any value for shareholders but just continues to line his own pockets as well as the other members of his mates on the Board!
AGE
Hi EIDR I agree 100% with your comments.
Have you joined the AMC shareholders share action group yet?
If not then please do so as shareholders are able to exert pressure on Boards if there are a large number of members with a large percentage holding.
The purpose of the group is to collectively work in the best interests of all shareholders and to share knowledge.
AGE
-------------------------------------------------------------------------------------------------------------------------------------------------------
I think it is time that we became more proactive and seek the winding up of the company before there is no more cash left to distribute. Do I remember Geng posting a mechanism by which we can achieve this? I propose that we take things into our own hands now and end this charade once and for all. I, like many others are thoroughly fed up of this and want my meagre return and to be able to wipe this board of directors from my memory.
Also, the previous RNS does indicate thing are moving along in the background. Why else would they need to release that sort of thing.
Looking back, he did post a few things, although I'm not sure if they work will BVI. When I looked a few months ago it looks possible, but nothing easy. As far as could make out you need a decent shareholding to wind up with BVI. That's why I suggested doing via the shareholders group.
Fwiw, I think they are going to do this deal, you just have to wait until they completed the work (they're unlikely to release progress updates). I my mind, it was always going take longer than they suggested. There was a lot to do for a company that doesn't do anything quickly.
It is incredibly frustrating though.
I think it is time that we became more proactive and seek the winding up of the company before there is no more cash left to distribute. Do I remember Geng posting a mechanism by which we can achieve this? I propose that we take things into our own hands now and end this charade once and for all. I, like many others are thoroughly fed up of this and want my meagre return and to be able to wipe this board of directors from my memory.
It seems RYs strategy is to use the remaining shareholder cash for his own salary and administration costs in 'pretending' to continually seek opportunities merely to prolong his salary .
Let's be honest, it's no surprise, RY & Co were only ever in this to line their own pockets, shareholder value was never a consideration and the overiding objective was to draw the entire process out as long as was possible to allow the RY Gravy train to roll on until every last penny was gone.
Quite possibly something will be released very soon.
Looking back at yesterday's RNS, it does appear to have been a cleansing exercise that would be necessary before an RTO.
Not really any other reason to have released something so out of date
They will play the game of extracting every last cent out of the company by using every rule every regulation and stalling tactic.It sadly will make no difference if you amass 2or 200 or 2000 they will just play the game to the death.BVI,AIM,all the clauses and have been read.They absolutely can’t stand their shareholders and they are simply laughing at us.When they have drained as much as they can it will all be over.
The board of directors,the AIM and BVI will not give a damn.
MD
Crazytowner an excellent email.
I just got completely fed up of emailing the NOMAD and AMC via their messaging system and not getting any responses!
I doubt they will take much notice but once they are aware we have 200 members in our group with over 400m shares they will have no option but to engage with our group.
Just look and see how it turned out for the Board of Scirocco Energy PLC (SCIR)!
AGE
Well if you are doing that then why not join the group and you can be the leader of the group should you so wish.
I only formed the group so that shareholders can come together to act in a coordinated manner for the benefit of all shareholders as well as sharing our knowledge.
AGE
Fwiw, this is my latest email from earlier today
FAO:
Amur Minerals Board of Directors
Amur Minerals Remuneration Committee
Richard Morrison (S.P. Angel)
Adam Cowl (S.P. Angel)
Good morning,
The RNS on the 3rd March stated that the company expected to be in the position to issue the RTO Admission Document before the end of April 24.
Not only was this RNS issued the day before de-listing was due, it mentioned a Head of Terms Agreement signed months before which had not even been notified to shareholders.
It is now the end of April and there has been no Admission Document and no update on progress.
I have emailed the company and nomad previously with respect to the below points, none of which have ever been acknowledged or responded to:
Reduction in Director Salaries & Fees due to reduced work since sale of Kun Manie
Notification and cancellation of future voting rights for the huge share purchase prior to suspension (over 3% threshold) that was never notified
Missed corporate mission statement RTO date
Missed Kun Manie sale RNS second dividend distribution
No appropriate RTO available
With the sale of Kun Manie completing over 13 months ago and AMC having limited cash, the directors salaries / fees over this period far outweigh the current and any future value in their shareholdings.
It is therefore my belief that the directors and shareholders interests are clearly not aligned and that it is not in the best interest of the company to be spending substantial amounts of limited cash searching for an appropriate RTO which clearly does not exist.
Should a shareholder vote on the RTO occur in the near future, I ask that shareholders be given the option to clearly vote on the winding up of the company and distribution of the remaining cash
The lack of engagement, responses, updates and adherence to deadlines has gone on long enough. I will therefore be looking at the options available to me to preserve and return capital.
Kind regards
.....