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Looks like a lot of cash was burnt during this search for an RTO. Lots of lunch meetings paid for from petty cash, travel expenses of all kinds. They must have helped themselves and had a good time with a party here or there. Little is left and all that is going to come from this is a company that makes some small plastic extruding. What a disaster.
Any future company with Robin involved should be avoided. No prospects here except placings.
VOTE NO and save what little cash is left before it is all squandered.
What a disaster of a management.
The trouble is your way just gives them another chance to waste even more. Vote yes and you could be out of this in 3 weeks and forget about it.
Turkeys voting for Christmas springs to mind
Vote no and there will be nothing. The company will delist, this bulletin board will close and for the next two years you'll stew in your mistake waiting for a big fat return of nothing from a BVI company.
Vote yes and there will be an opportunity to exit in the next few weeks, might even do OK with the selling restrictions and if pharma investors like it.
@ilovesushi - if this deal goes through robin young stands down on ReAdmission, if it is voted down he will remain the sole executive director
As some have said, if no, the AMC board will drag this along, with fees, salaries, other costs and the fact that they will be delisted and thus don’t have to answer to anyone means this will drag on for months, and all the while the money will dwindle away. You will no longer be able to trade the shares and will be in essence frozen in you account with zero value until they return the money, or the company liquidates and your shares will fade away.
Yes vote - Lets be honest, to take this technology to market will probably take zillions of years and zillions of £s regardless of their 2028 predication, so hanging around is not the game to play here, in fact, this is true for most AIM investments!! That being said, a yes vote may present an opportunity to exit early at a higher price compared to the alternative.
‘Yes’ vote will allow me to extract what little money a have left and like what CT, DojiSta,r and other have said we can get out soon if we wish.
Opportunities to exit include:
- Initial opening excitement, little SP spike time to exit.
- Patent Applications granted, little SP spike time to exit.
- NIHR or Innovate grants/Funding news, unlikely as they are too early , little SP spike time to exit.
- Investment fund interest, little SP spike time to exit.
As I have said, I know absolutely nothing about pharmaceutical investing.
I like the tangible output of mining and commodities and have worked in the industry, so it makes sense to me.
It seems to me though that a better cancer treatment for all the areas mentioned would be worth tens of billions globally (as well as help a lot of people)
Could it be ChemoSeed.... I have no idea
I'm going to vote yes, hope that the RTO succeeds, listen and learn when those more in the know about pharmaceuticals begin posting on the product and then decide when to sell or hold
Ilovesushi seems to be having great difficulty comprehending the simple straight forward situation here, he thinks if he votes No then he gets the remainder of the cash but that 100% will Not be the case.
Voting Yes, is the only realistic option of getting some cash back here.
If we're fortunate, the Pharma could draw in some buyers and increase in value so its definitely the best of the two bad options presented to shareholders.
Once delisted, we all know RY will be in no hurry to dish out the remaining cash and as we have just seen them blow £1million in 5 months on nothing, its very clear there will be little to nothing left of the £1.8mln once they're delisted and are free to waste the rest of the cash pretending to search for other RTOs or simply wasting time delaying the dividend whilst taking salary and having admin and other costs.
TheChessMaster
I think I do comprehend the situation. Not that difficult really. It is quite possible as you point out, it may not be the case that we get the remainder cash. I concede its very possible that no money will be returned by voting no. Going with the new novel product may be a possible way back for those who want a return of their investment.
We know how the management strung this out longer that originally envisaged and spent more money because of it. Cash is significantly down. Prolong further and adding the indemnity clause there could be little or anything left when you add wind down costs. Yes add delisting and winding costs it could all be gone. You make a good point.
Really there should be a option to return cash at the vote. A £2m div payment before delisting or something like that. Unfortunately, there isn't and we all know why.
In fairness to AMC, Robin was always clear that after the 1.8p dividend the remaining money would be used on a RTO.
What AMC said they would do is attempt to find a suitable RTO and complete by the end of March 24. Failing that they would pay a second special dividend.
What they have done is blow a stupid amount of cash over the last 12 months, taken us into suspension whilst telling us they were looking at 11 mining / commodity companies, missed the completion deadline and then out of the blue presented a pharma RTO whilst somehow tying us into abortive costs.
I don't think it is a suitable RTO for AMC's investor base and I don't think many would choose to be involved.
As i have mentioned, they should have pulled the plug 6 months ago when it was clear there were no suitable RTO's and not pursued an RTO at any cost.
However, the vote will pass because the alternative is a Nil return in Forever years time.
I don't like how we have got to where we are, but we'll find out in a couple of weeks once pharma investors are able to get involved what the market thinks of it. It may turn out to be a great investment.
This will be my last post on AMC / RY and the past. Going forward I will focus on the RTO and New Company.
The lesson learnt with AMC is not to invest in junior exploration companies.
Your return on investment never manifests, and the journey of the company takes 10x longer than the CEO gives in the RNS.
Invest in established producing companies, then most instances you should get your investment back plus more.
Most AIM Exploration companies are scam jobs where the CEO receives a 6 figure salary for doing a few days office work every 2 months, Their salary is only possible because retail investors throw hard earned money at the company wishful thinking.
David85
I'm afraid it's even simpler - DON'T INVEST IN AIM - Trade it.
Companies only list on AIM to raise money and support their boards Lifestyle. If they were any good they'd simply borrow the cash they need!
From the RNS on 06 March 2023
https://data.fca.org.uk/artefacts/NSM/RNS/4695320.html
The Directors intend to seek to acquire another company or business in exchange for the issue of Ordinary Shares in a single transaction (a "reverse takeover"), which will only be able to go forward with shareholder approval. In considering the Company's future strategy, the Board will seek to identify opportunities offering the potential to deliver value creation and returns to shareholders over the medium to long-term in the form of capital and / or dividends.
Generally agree with your thoughts on AIM guys.
However there is 1 exception, PXC, Phoenix Copper!!
They have finally raised an $80m Copper Bond with a German private equity firm to get into production, and based in the US.
The 1 thing which hasn't changed about AIM, is the share price is slightly less before the blockbuster RNS came out 🤣.
With just a £30m market cap, it will soon rocket up. Genuine multibag potential.
DYOR
After thinking long and hard about the RTO and Crazytowner's post below I have decided to vote "For" the RTO.
If the RTO is not a success then I will avoid investing like the plague any Companies that have members of AMC's Board.
AGE
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What AMC said they would do is attempt to find a suitable RTO and complete by the end of March 24. Failing that they would pay a second special dividend.
What they have done is blow a stupid amount of cash over the last 12 months, taken us into suspension whilst telling us they were looking at 11 mining / commodity companies, missed the completion deadline and then out of the blue presented a pharma RTO whilst somehow tying us into abortive costs.
I don't think it is a suitable RTO for AMC's investor base and I don't think many would choose to be involved.
As i have mentioned, they should have pulled the plug 6 months ago when it was clear there were no suitable RTO's and not pursued an RTO at any cost.
However, the vote will pass because the alternative is a Nil return in Forever years time.
I don't like how we have got to where we are, but we'll find out in a couple of weeks once pharma investors are able to get involved what the market thinks of it. It may turn out to be a great investment.
This will be my last post on AMC / RY and the past. Going forward I will focus on the RTO and New Company.
There is nothing showing for AMC’s RTO in ii’s Corporate Actions section.
I had to ring ii and I gave my instructions over the phone to vote “For”!
It is most probably the same on some other brokers websites so you will have to ring them.
Last date for forms of direction is 23 May 2024 and for receipt of proxy forms it is 24 May 2024 so not long to go so it is advisable to ring your broker today as it is easy to forget and then you will miss the the deadline!
AGE
Hargreaves have just notified holders.