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I have voted no for both meetings and so is a friend of mine, not on this board. Total shares voting no is 240,000. Small combine holding but hopefully, many like me and my friend will vote no and this will add up enough to stop the fire sale of Amer.
Which RNS?
Am I reading that RNS correctly that AMER have actually taken out a short ?
Hi there, I have just sent a message off to the FCA as you suggested listing the same concerns. I voted no through Hargreaves Lansdown. Having been in vog for years as well. It makes me think I am wasting my time with these supposed B.O.D.s No level playing fields here.
I agree with that, which is why I am trying to get a definitive answer to that.
I have not voted by proxy yet as I think attending and being able to vote by hand is the key.
Anyone who has voted by proxy cannot vote by show of hands as well.
I'm still fully in here as is my No vote.
My question for now is - do the votes of those who may have voted before selling count or are their votes removed at the time of disposal of the shares?
Many companies wave through decisions on a show of hands by those attending the General Meeting with no consideration of the number of shares held.
I am assuming there can't be many holders left in AMER as the BB is dead ?
to marketabusepolicy
Amerisur Resources Plc. URGENT
On Thursday 19th December, this Company is holding a Court meeting and a General Meeting immediately thereafter to decide a BoD agreed takeover by GeoPark at a price of 19.21p per share.
This all resulted from an unexpected speculative offer from Maurel & Prom at the derisory offer equivalent to 17p per share (shares plus cash) which the Company stated "Seriously Undervalued" the Company.
The Company then decided to enter a Strategic Review period to determine a satisfactory sale outcome.
The process entertained "multiple participants" which suggested a keen interest to buy.
During the process, the Company decided to exclude any shares plus cash options, thereby limiting the field to those that could muster sufficient cash resources.
This in itself may have been detrimental to all shareholders as the Company decided to recommend this paltry offer.
Paragragh Deleted from email due to poor wording.
Better wording of the paragraph
ONGC Videsh and Occidental are two major oil producers in Colombia who have a serious strategic and financial involvement with Amerisur. It is inconceivable, IMHO, that both these Companies would not be showing a very keen interest in bidding well above the recommended offer.
All these Companies are very involved with Columbian Oil assets.
Amerisur are a very profitable company with no debt and circa $50m in the bank.
This Strategic Process leading to an unacceptable offer is totally unnecessary as it is not a "fire" sale.
Clearly we may vote down this offer, but it does change the fact that the information provided to investors about the process and current trading activity has been NIL!!!!
My question is: if this deal gets cleared to go ahead and you subsequently find some "market abuse" activity, DO YOU HAVE THE POWER TO STOP THIS DEAL?
I will also add that at the last AGM the Company, when asked, flatly refused to provide the voting % for and against. This is very unprofessional.
One of my big concerns is about these voting arrangements and how can we be sure that the votes counted is done honestly.
I have contacted Amerisur by email and received no replies to my questions.
I have contacted the registrars to get an answer from the Company, no answers since 29.11.19.
Please read RNS dated 28.11.19 section Action Required, para one. It is so badly worded especially using the words "in value". What does that mean.
So I am not sure how a show of hands works in conjunction with the proxy votes!
Can you help please.
Apologies all. Maybe FCA can do something! had a call from them today correcting their comments, inviting me to send my concerns to marketabusepolicy@fca.org.uk.
Whether anything comes of it remains to be seen. If they are anything like utility regulators, they will be pretty useless.
I may publish my comments in a new message, though I am just concerned about some of my comments as to whether they be construed as defamatory.
Please send your comments in as it may add weight to a possible investigation.
I have said that there are many P I 's with similar views to mine.
Finally decided to walk away.... other opportunities are gradually rising whilst upside here remains little by comparison.
wish you all the best of luck and success with this one, but for now it is over and out...
Well four days left and I am still holding !
The Amer traders, I've known for years ,are long gone for fear of the SP pulling back after the vote, but something keeps tell me to sit tight, maybe just maybe or I' am totally deluded and still in denial.
Just voted NO to the 2 resolutions in respect to my 304,000 shares. We might not be able to stop it but I feel if we do GeoPark might come back with better offer but probably by only 5 -10% more.. I have seen this in few cases Faroe, Regal.
Best wishes to all
The H-S
One can only assume that JW had lost faith in both Amer and the Indians plus his own drilling record was not brilliantl. Back in London there was noone with any mining experience- Hence a SP going backwards over two years until M&P were sufficiently awake to put in their bid - without which we would probably be still at 12p.
That's exactly the point. Why did the bod not do its own drilling? With so much cash in the bank and even with a placing, they could have got the SP to 50p.
Absolutely outrageous.
Assuming that this deal gets voted down (and that’s an extremely big assumption) the current board (with possible exception of John Wardle) will need to be ousted pronto if they fail to resign (which wouldn’t surprise me). There’re plenty of Oilers on this bb: does anyone have people in mind? For instance, does anyone know the extremely capable George Maxwell who is now out of his role at the sold-off Eland? Could he be persuaded to engage?
We need to consider this scenario, I believe: I’d welcome thoughts from those who are much better connected in this industry than I am.
The sells and buys are determined by whether the transaction price is above or below the mid point showing when the sale is made. In a volatile market this moves up and down very fast causing many trades to be reported wrongly. So I am afraid that the stats do lie.
However, it is fair to assume that there were a lot more sells than buys.
Trades 174
Vol. Sold 4,410,658
Sold Value £825.68k
Vol. Bought 246,826
Bought Value £46.21k
As a long long term holder this has burned me badly. Even posters talking of a mid 20s sales were rinsed as rabid derampers! Oil in the ground, cash in the bank, improved POO and a functioning pipeline = less than a third of the value when we had a lot less. Not sure how BOD can ethically agree a sale at a fraction of their previous published valuation. AIM!
I reluctantly have to ask myself the question ‘ why a better offer was not obtained if the Amer assets are so desirable ‘. The only complaint must therefore be that Amer should have refused the offer and gone on drilling themselves . This is what they should have explained instead of bulldozing the sale .
Slapheads,
Enter the number of shares that you are voting. That way there can be no confusion.
Looking at Reuters and yahoo finance seems to suggest Amer are still active in pursuing new areas to develop.
Still unable to comprehend or accept the offer made.
Will see what a new week brings......
Seems to me that there's a fair chance that this so-called deal will not succeed. If thE PI's vote of circa 5% for No remains and River and Mercantile's recent purchase suggests they will also say No, it will only take 3 or 4 more ii's to block the deal. Would it be open to GeoPark to increase their bid?
Who the hell is hoovering up all the sells - and why?
Gambling Addict. Thank you for following this up with the FCA.
Their response really makes you question whether they serve any useful purpose in protecting the interests of investors