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Started: ripley94, 6 Mar 2023 14:41
Last post: ripley94, 31 May 2024 23:35
13th May 2024 News
Amur Minerals Corp - cash shell and former Russia-focused nickel copper sulphide exploration company - Agrees reverse takeover of Extruded Pharmaceuticals, a UK-based drug delivery technology company which is focused on improving the performance of cancer treatments for solid tumours through the local delivery of chemotherapy drugs. Says Extruded Pharmaceuticals to be acquired for GBP5.5 million in shares. Calls May 29 general meeting to approve the deal. Plans to change name to CRISM Therapeutics Corp following acquisition. Proposes share consolidation at a ratio of 1:160.
Had this note 1/6/23 fall of 86% to 0.264p
0.264p x 160 = 42.24p
Amur Minerals Corp removed .
And replaced with 1/160 th of CRISM THERA no info on them or price indication.
Notice from ( W ) of 1 for 160 consolidation .
And will come back from suspension no notice from ( D )
Those with less then 160 will no longer hold any .
I have many more in both accs
Maybe the ones not divisible by 160 are worthless .
This was the one I recall in
So many trades in that 2016 Santa rally ( must be 8 years back now ) how time fly's.
Special div paid last June.
It produces!
Started: Brian007, 31 May 2024 13:55
Last post: TheChessMaster, 31 May 2024 16:09
They made sure only a few could trade today by not changing the name from Amur to Crism, I had to phone my broker and he changed the name over and I could then trade but its already down from 28 to 9 and hardly anyones been able to sell yet.
I think this will be 1p in no time when holders can trade the
Bids currently 11, Just sold £460 worth for 9p, a 2p discount. Sold another £125s worth @ 11.
Need to get shut of the rest as it's extremely illiquid and falling fast from the 28p this morning.
Contact yr broker and they will update yr Amur shares to Crism or is it Jism 🤔
Greetings everyone.
my shares are still shown as AMC in my Interactive Investor account.
I must confess, I have not logged in into my II account for months now.
However, followed the latest news but I am still with AMC.
Is there a document I must sign, vote or something i have missed?
Would sell today if price holds
Please advise,
Thanks
Last post: brookieboy69, 31 May 2024 12:30
13.7p. Will probably bounce to 200p now that I’m out!
BB69,
What price did you sell at, if you don't mind me asking?
Lucky you. I cant even get a price to sell with Halifax
Yes - all disposed of across all my family accounts. Time to move on.............
Has anyone even managed to SELL anything yet?
Started: Astar, 31 May 2024 10:26
Last post: Astar, 31 May 2024 10:27
This will soon be where AMC always was.... 4/3/2/1/p
Nm
Started: Geng, 31 May 2024 09:13
Last post: Agneissearner, 31 May 2024 10:03
Both the Board of AMC and the Nomad are deluded!
They came up with a 23 pence valuation however the markets are able to quickly recognise b**l sh*t
AGE
Gonads - the SP is already half his predicted price of 23p!
https://www.lse.co.uk/Level2SharePrice.html?shareprice=CRTX&share=Crism-Thera
Started: Geng, 30 May 2024 17:03
Last post: ManuelDexterity, 31 May 2024 08:29
Ii just told me on the phone that they have NOT GOT the shares credited to them yet and maybe 10 working days.Geng you were quite right HILARIOUS
MD
20.00-28.00 what an outrageous spread
Not on Google finance either
No hilarity Geng,in fact on nothing, not showing on my ii either
MD
I am with Halifax and cannot see my shares either
Ridiculous!!!
Last post: ManuelDexterity, 31 May 2024 08:17
It’s not easy to sell a share when it’s not listed in your account
MD
24p
Started: brookieboy69, 31 May 2024 08:10
Last post: brookieboy69, 31 May 2024 08:15
But why would anyone want to sell these? Their product is the next big thing, and we’ll all be millionaires at some point?
Robin told me
Sell rather than see
Can't see them though.....
For those using Hargreaves Lansdown, the shares were credited to accounts pre-8am today.
Last post: ShadowLess, 30 May 2024 15:26
"Pursuant to Rule 15 of the AIM Rules, the Company's Existing Ordinary Shares will remain suspended from trading on AIM until completion of the Proposed Transaction. Trading in the Ordinary Shares will commence at admission, which is expected to be at or around 8 a.m. on 31 May 2024 ("Admission")."
RNS Number : 0703O. Dated 13 May 2024.
I think they expect admission of the shares for trading tomorrow.
Rec'd notification from HSBC that my shares are being reduced on a 1/160 basis. Surprised to hear so quickly?
Started: Astar, 29 May 2024 11:52
Last post: ShadowLess, 30 May 2024 10:15
Age, Thanks
Hi ShadowLess,
In the end I decided to vote for the RTO and a I emailed all members of the group that I was going to do so.
A number of people who are members of the share group emailed me to let me know they were also going to vote for it.
AGE
Age
Not a criticism here, but what happened to the Shareholder Action Group? did you all agree to vote yes, or no census was found and everyone went their own way?
I would suggest that most didn't bother voting.
Within that 126m were my 27m and the boards 20m
Amazing to think that the total number of votes cast for the acquisition was 125,799,681 and our shareholders share action group own a combined total of 118,516,530 shares so 94.21% of the votes cast!
AGE
Started: EIDR, 29 May 2024 16:08
Last post: EIDR, 29 May 2024 16:08
Do we just sit and wait or do we have to do anything.
Just glad to get rid or RY and his gum chewing side-kick.
Started: Geng, 29 May 2024 11:02
Last post: Geng, 29 May 2024 11:02
Biggest turn out ever and it's to get rid of the company!
Luv
Geng
Started: Stu_1978, 21 May 2024 13:50
Last post: Crazytowner, 22 May 2024 10:01
Yes, the corporate actions team could see the AGM but were unaware of the GM as its buried on page 136 of the RTO document
"I can confirm that we have submitted your votes for all four accounts for the AGM (I have not been able to also submit the votes for the GM following the AGM at this point)"
I know you mentioned that there was a standard general meeting after the AGM on the 29th May. After speaking to our Corporate Actions team, they have had a look around, and they cannot seem to find any information on the official company website regarding the general meeting shortly after the AGM. Could you please maybe signpost us to where you found this information, or provide a source? This can be passed on to our Corporate Actions Team, and they can review this, and we can see if we can submit your voting options for the standard general meeting"
Does anyone care about the AGM - it's irrelevant, If you are going to vote it's the GM that will get you your dosh back!
When voting, make sure that it is for the AGM & GM, both being held on 29th May.
ii corporate actions team couldn't find the GM (RTO) one
Not sure what percentage they need to approve today but anyone who votes against needs their bumps felt.
Well to be fair I received an email from II reference Corporate action on AMC on the 15th May last week so no problem for me voting in time.
Not sure my 0.00459% will make much difference though
Started: Ilovesushi, 16 May 2024 06:52
Last post: mimbrit, 20 May 2024 12:03
Hargreaves have just notified holders.
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
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
----------------------------------------------------------------------------------------------------------------------------------------------------------------
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.
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
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.
Last post: ShadowLess, 17 May 2024 12:03
Hello Cossy
An alterative to investment from Phama would be grants from National Institute for Health and Care Research (NIHR), Innovate UK, local grant schemes, as well as EU funded grants (even though we are out, there are some grants available).
For the bigger grants they need to get to a certain point in their development cycle before they can access these. I am guessing this is the main reason they have listed.
How similar is it to avct? From the very little research I've done (I hate researching pharmas), it sounds quite different to me. Similar area obviously, but it's a very different approach. I think!
We will be valued 25 times less than Avacta and will not be making £25million losses a year so its hardly a peer company.
120,000,000 ?
Is that the same Avacta that made a £24million loss annual loss and are valued at
Started: Crazytowner, 16 May 2024 18:32
Last post: Geng, 17 May 2024 09:58
Hilarious - he wasn't really reading from a script was he, at least Robbing was an accomplished con man!
Courtesy of Dancinfred on Telegram
https://youtu.be/0auyHpogsao?si=fBOJbMon5MgKAems
Worth a watch of what we are about to own
Started: TheChessMaster, 15 May 2024 11:34
Last post: DojiStar, 16 May 2024 08:15
You ask where the money has gone. The fact is it's now embedded in this deal. Getting this company listed. Value isn't always a tangible thing.
Agreed Doji.
The RTO should have stopped when no mining / commodity targets were suitable.
Keeping it going to where we are now enabled people / companies to extract a lot of AMCs cash.
Directors and the Nomad feathering their own nest under the deception that this was in the interest of shareholders
I think quite a few underestimate the costs of doing this kind of rubbish. Everything around listing, placings and corporate stuff costs loads. Which is particularly bad for smaller companies. Doesn't surprise me at all the the cash is at that level. The time to pull the plug was months ago, not now they've spent all the cash on getting this deal done. It doesn't make sense.
If the new group share price is based solely upon the remaining cash in the company which is £1.95m and there are 23,939,986 shares in issue then the share price should be 8.1454 pence per share which equates to just 0.059 pence in old money and that is the 8.1454 pence divided by 160 being the consolidation ratio.
I would be very interested to know how the Board and their financial advisers arrived at an estimated value of each new ordinary share on admission of 23 pence when the cash value per share is just 8.1454 pence as it is a premium above cash value of 14.8546 pence or 182.36%
Per the information provided:
The Acquisition values the current Amur cash shell at £1.95 million, a substantial uplift of 56.0 per cent. on the market capitalisation of £1.25 million at the time of the Company’s suspension in September 2023.
The reason that AMC shareholders cash is being so heavily diluted is that the Board have spent £989,302 of AMC shareholders money and we only own 26.74% of the total number of shares in the new group so the remaining cash is spread over a much larger number of shares.
AGE
Per page 30 of the RTO admission document there will be approx £1.95m in cash and as at 31 December 2023 and the group balance sheet showed cash and cash equivalents of $4.384m and there was $0.662m of trade and other payable so a net amount of $3.722m and at a fx rate of 1.266287 the sterling equivalent is £2.939m
£2.939m less £1.95m is a difference of £0.989m or £989,000
In a period of just 5 months the Board will have managed to spend £989,000 which is 33.66% of the cash that we had on 31 December 2024 so an annualised burn rate is £1.384m.
In whose interests are the Board of AMC acting in, as by law it is supposed to be AMC shareholders however spending 33.66% of shareholders money that should have been returned to shareholders via a second special dividend tells a different story.
To make matters worse they agreed a valuation of £5.5m for a company with negative net assets of £600,382 so a liability and who are going to spend the much reduced amount of cash that AMC owned 100% and will end up with just 26.74% of the shares in the enlarged group.
Note the wording below that says:
"The existing funds available at Admission will progress the Enlarged Group to clinical trials, however to complete these clinical trials and invest in future products, further funding will be required"
I think it is the best interests of AMC shareholders for our group to start researching to find out who the relevant authorities are to report what has been going on with AMC.
The problem with RTO documents is that Boards have to provide so much information that shareholders are able to clearly see what has being going on!
Prospects for the Enlarged Group
At Admission, the Enlarged Group will have approximately £1.95 million in cash available. The Enlarged Group intends to use these funds to progress to clinical trial, with workstreams including:
lClinical Trial Application regulatory and submission costs;
lGLP manufacture and toxicology costs;
lGMP manufacturing costs of a clinical batch of ChemoSeeds;
lThe initial payment for a Phase II clinical trial;
lOngoing regulatory and legal costs; and
lCorporate costs.
The existing funds available at Admission will progress the Enlarged Group to clinical trials, however to complete these clinical trials and invest in future products, further funding will be required.
AGE
Started: Ilovesushi, 16 May 2024 07:59
Last post: Ilovesushi, 16 May 2024 07:59
AIM is a cesspit. Invest at your peril.
Out of the frying pan and into the fire.
Things looked like they could get better, but has got far worse. Whats in store for the new company? Fat executives that issue placing to keep a lifestyle. This business must end. Who is so gullible now that think this plastic thing can be injected into anything? Now who will pay for this research and how much needs to go into it? Why did not big pharma show interest? Why the hell did Robin not just return all the cash before he took most of it out in salaries and fine dining?
Started: Ilovesushi, 16 May 2024 07:45
Last post: Ilovesushi, 16 May 2024 07:45
Hands in the trough to me. The management must have been involved in their own private businesses while raking in most of the cash with fine dining and travel expenses. And taking high wages. This is daylight robbery.
I would love to go through these guys expenses. Looks like they have lived things up and taken what they could. Extravagant wages. Gosh hardly any cash left.
These new guys now will their silly inventions want us to go on a other journey with them with soon to be issues new shares in the next dilution. Decades away from any cash generation.
Damn VOTE NO.
Started: Ilovesushi, 16 May 2024 06:45
Last post: Ilovesushi, 16 May 2024 06:45
It’s now been made clear. The reason for the listing. “Further funding will be required”.
Sorry guys, all that is in prospect now is dilution and placings. This industry bleeds cash and to get that cash, shares will be issues and remaining shareholders will be diluted to death.
VOTE NO
Started: brookieboy69, 15 May 2024 07:23
Last post: DojiStar, 15 May 2024 15:54
I had by the 16th with ajb. Which is obviously stupid given the Q&a date, but what can you do!
What are other retail brokers' deadlines for voting?
Goneawol - you are right that online brokers impose their own deadlines on retail clients so best to get votes in early. Unfortunately, also the signalshares route is not available to holders who hold shares through online brokers.
It's already available with mine. What surprises me is they've made it this easy to vote. I thought they'd go for the 8 am start, only people in the room vote!
'Any holder who holds their shares through an online broker will be able to vote through their retail broker immediately after the investor meet.'
I'm not sure this will be possible in all cases, online brokers tend to set an earlier deadline. Someone on Telegram said AJ Bell had given them two days to vote. It's poor from RY & Co, though as expected.
Started: OblastTigers, 15 May 2024 09:37
Last post: DojiStar, 15 May 2024 11:12
Yeah, I think it might be different for each broker. You definitely can't hold them in an ISA, obviously.
The point being, if your voting no, you should really understand the implications. That's all.
Not entirely sure, when I've held shares in delisted companies its generally been as a result of an insolvent liquidation - probably a question for the retail stock broker. obviously the shares won't be crest enabled at that point in time.
I think it's important to look in what happens to your shares if they are delisted in your trading account. It's probably old hat for people who have traded aim a lot this year, but many people won't know what happens. I only have a vague idea and I don't really want to transfer out of my ISA. Does anyone know for sure what happens with delisted shares in their nominee accounts?
Initially I was going to vote no due to dilution of shares & not wanting to have what's left of my money dwindled away by a fledgling company.
On reflection I've now decided to vote in favour as I believe there's a better chance of getting something back with this option.
I'd written off my remaining shares here so even if I sell on the first day of trading it will be a positive result.
I couldn't bear being dragged along for another extended period of time by the current crew only to eventually be told there's so little money left that they've decided to donate it on our behalf to the Pockets of Directors Benevolent Fund.
Morning, as many have said this IS the ONLY WAY we can get some of our cash back, it does not make any sense to vote against it as no doubt we will lose all of our money otherwise..Im voting YES,,just my opinion guys