Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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25p min, which I would have taken but not delighted.
Trigger options, but they made that part of the deal. I feel sick. Mugged again.
I agree
Clearly they see most of the value with CPO-5 - not obvious what they'll do with PUT assets. The board should have disposed of CPO-5 alone, and not thrown in PUT assets for little extra value. Why did they encourage bids for the entire company, were the bids for CPO-5 even worse value? Sucks of going through the motions of the FSP.
No media today either recommending offer.
Worst case scenario for me was a management buyout, this follows very closely behind.
We’re all irritated by what’s happened
Are we going to just accept this or fight back
Plenty of others ****ed off on ADVFN
threeputt - it is the BoDs fault, totally and absolutely as they should have knuckled down and made something of the company, that's was their duty whilst accepting huge salaries and lining themselves up with substantial benefits.
They should never have needed to launch the process, you need to wake up man, you're being stitched up to facilitate someone else's aspirations.
Bear in mind that to get the deal the BoD need to convert more than 3 out of 4 shares voting to approve to get the deal approved as there will be abstentions.
So don't think your small shareholding is of no consequence, II's cannot railroad PI's in this unless we roll over and surrender - I'm not convinced all II's will be satisfied either. The large buys today could be from someone hoping to facilitate of block the deal there is every chance both sides will be in the market.
The BoD has a lot of work to do yet and all we need is a lead from an activist investor with anything like a decent shareholding and the contact to replace the BoD or mayber a hostile offer. From the RNS's over the last few months it's clear that even if all of them vote for the deal they still need many more shares
I think this whole process has been a farce and was almost certainly kicked off by our BoD in response to pressure from Michenoko - who I suspect simply want out of the sector as their owned has allegedly a lead role in a huge international green agriculture pressure group. Good guy owner apparently, but Amerisur must to a bit of an embarrassment. In effect this has been like a distressed sale.
For all who are saying this is a derisory offer, unless there is a counter offer then all those companies doing their due diligence didn't think it was worth more, how can that be the boards fault ?
While I was hoping for more I'm nonetheless not surprised at the offer, I don't however believe this is over yet.
Minho...... darned Spanish predictive text.... minute!
I suppose 19p is fair for a company with non-producing assets, zero pending exploration and no cash in the bank? Hang on a Minho, this is Amerisur in Columbia yeah.....reminds me a little of the stitch up in Ithaca! Modern day "stand and deliver" imho
Thanks, spyburn: good of you!
By the time the vote comes around I’d expect the “irrevocables” and GeoPark will have at least 40% between them. Then we need all the dissenting PIs and Institutionals to be at least 13.5% of all shares in order to defeat the proposal. Perhaps this is stating the obvious. It’s tough, but not impossible to vote this down, but I take gettingpoorer’s point.
Please do vote, everyone.
I have 600k and I’m sure there are plenty more PIs around this level summed together.
We need to vote against these pigs.
I would second Caution Y Blast as CFO having met him at the AGM.
Particularly ****ed off as I used to work for Alex Snow years ago when he had the hunger to do a great deal.
Not happy about this offer at all. I had more money in Jan and have missed countless ops all year.
Board should've rejected this. Impact could've been a return back to 12.5 and then a hostile take over (which they could've fought I suppose). Clearly Michinoko want out but doubt they could've dumped shares that easily/quickly.
Seems like the bod have just thrown in the towel (having gotten a very nice pay off). Very big conflict of interest. Hope some of the other big iis vote against this bid.
Ultimately the proof of our value will be whether other bids come in now. The demand for this to be cash only is a challenge for many. If our assets really are worth what we think we should see a counter bid (and if shenanigans then some bigger iis should be complaining)
Unless we have a counter offer I would suggest that's it , we've been stitched up. PI's get angry and have idea's but without the big players on board imo it's a fruitless exercise , just creates a lot of work for someone.
I think AIM is one market to avoid , I certainly will be. It's no better than a Casino , and at 57 I don't fancy putting my retirement into the hands of spivs.
Anybody who says go invest in Lloyds , or L&G , i.e.. boring stocks is probably very young and naive. AIM is not for older guys , we cannot afford the risks.
I doubt it will actually exist in 25 years time , maybe my lifetime , as it just keeps ripping the public off , and , and , ....getting away with it.
I had a stock a few years ago that I had invested 1k in. They had cooked the books and it went bust overnight. A very rich client who was invested told me it was either a multi bagger or a scam.
It turned into a scam obviously. I never heard another thing about it once the shares were gone , along with investors cash etc etc.
So these guys are very clever individuals robbing the public with no one to answer to.
The FCA are a joke as are the FSA , unless they are dealing with the Utilities.
Rant over , not surprised but a bit disappointed all the same.
Happy w/end guys , and as one poster said , be happy if you have good health .
I got 200,000 shares if this gathers any momentum.
O I see it is an O trade. No idea then!
Someone already pointed out it is probably GEO buying the stock as they are the company aquifer anyhow , so they are getting stock .4 cheaper than the offer price. Free money for them...
Have those buys have just appeared? Buying to make 1.6% on a trade
15-Nov-19 13:55:49 18.90 3,000,000 Buy* 567.00k O
15-Nov-19 13:33:57 18.89 1,450,000 Buy* 273.91k O
15-Nov-19 08:49:52 18.84 2,000,000 Sell* 376.80k O
15-Nov-19 13:31:13 18.89 2,892,600 Buy* 546.41k O
15-Nov-19 13:33:45 18.89 1,450,000 Buy* 273.91k O
15-Nov-19 17:14:20 18.9414 2,529,504 Buy* 479.12k O
15-Nov-19 16:57:34 19.0791 2,000,000 Buy* 381.58k
I'm not a big shareholder -£25 000 worth - but I'm going to sit it out. Who knows what might happen?
Well said, leas. I do hope you get your assets released very soon.
Well guys, if you and your close family members have good health then we can put today’s disappointing news in perspective. I will have to wait until next year for my asset to be freed up by the administrators .
Some great posters on here who have contributed valuable research. However, you can only form opinions and make decisions based on integrity and honesty.
Sadly not all human beings hold the same values. I sincerely hope that those LTHs with higher averages recover their money elsewhere.
Have a great weekend guys.
We all need to let the board know how **** it is. I wander how big the AMER inbox will be on Monday am, when then go into work.
info@amerisurresources.com
0330 333 8273
I am gutted as I hold 300,000 shares and had expected a bid well in excess of 20p. For the risk I took in averaging down from 20p a year or two back I am not inclined to just sell meekly next week even though it would be for a good profit at 19p.
I am not going gently into that good night and neither should other larger shareholders this is a **** deal and we all know the company is worth far more than 19p a share.
The thing is that is still below 19.21pp and you can make a lot of money on a .14p rise to that.