RE: Lots of cash burnt19 May 2024 21:05
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.
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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.