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Brookieboy69 my calculations based upon a fully diluted basis so a total shares of 1,392,872,315 entitled to the special dividend is 2.15p before the ex div date so 0.35p now.
Is there anyone whose stock broker shows that they have received the special dividend as if is not shown in my ii account!
AGE
I just reread the RNS and the actual wording is projected to be the 14 June 2023.
I had it in my mind that it was “Around the 14 June 2023”
AGE
We all know what the payment date is supposed to be as the wording in the RNS is “Around the 14 June 2023”
It does not say on the 14 June 2023 so it can be either before, on or after the 14 June 2023!
AGE
Per Interactive Investors Corporate Actions section it says:
Pay date of the 14 June 2023.
No action is required, and the dividend will be created to your interactive investor account upon receipt from the company.
Let’s see if we receive it in our broking accounts tomorrow morning!
The RNS said it will be paid around the 14 June 2023!
AGE
Well there is a surprise!
AGE
The fact the Company has called the payment to shareholders a special dividend does change the fact that it is return of capital.
I am going to write the following in the white box section of my tax return. I received a special dividend of xxxx from Amur Minerals Corporation PLC which is a British Virgin Island domiciled Company and it’s shares are traded on the U.K. AIM market.
I did not include the special dividend in the foreign dividends section of my tax return as Amur Minerals Corporation PLC does not have any accumulated profits for the special dividend to be paid out of. It only has sufficient share capital and share premium to pay the special dividend out of and as the share premium account is eliminated by the accumulated losses the special dividend can only be paid out of it’s share capital so it is a return of capital rather than income in the hands of shareholders so it is not subject to U.K. dividends tax.
The fact the Company has called the payment to shareholders does not change the fact that it is a return of capital.
AGE
Nav21 we do not expect the Directors to know every thing but we do expect them to seek advice from people who do know.
At the meeting to approve a sale at 105m USD shareholders voiced concerns that not enough money was being paid up front and also that money should be returned to shareholders via a dividend.
Before the Board decided that they would pay a special dividend they should have sought advice re the tax consequences of the payment of the special dividend to see if there is a way of returning money to shareholders so that it is structured in a more tax efficient manner.
Directors should not listen to what shareholders ask for if the shareholders do not understand the consequences of receiving a dividend.
The Board issued an RNS in which they stated they are now turning their full attention to the tax consequences for shareholders and 247 days have past since they made that statement and we have not heard anything from them.
I expect Boards to communicate with shareholders in a timely manner and to ensure they do what they state they are going to do in RNS’s.
As you only invest via an ISA or a SIPP you do not have to worry if the special dividend is subject to dividends tax or not as they are tax exempt schemes.
AGE
Nav21 have you never heard the phrase “Once bitten twice shy!”
We have a Board who cannot be bothered to let us know about the tax consequences of the payment of the special dividend and who cannot be bothered to reply to shareholders messages!
AGE
Brookieboy69,
I am not holding out any hopes on a good deal as they have not even managed to turn their attention to the tax implications for shareholders of the payment of the special dividend and it has been 249 days since they stated they are going to do so.
As people have stated the dividend RNS seems to have been rushed out because of Tom Winnifreth’s article about the delay in issuing an RNS.
That is why I said months ago I would vote against an RTO as it would be better for shareholders to receive a second special dividend.
AGE
You will have to transfer the money out yourself!
AGE
There is a thundering silence from the Board of AMC re the tax consequences of the payment of the special dividend.
The phrase “thundering silence” is an example of an oxymoron!
AGE
Brookieboy69 thanks for that.
I am a shareholder in both AMC and AST and shareholders wealth has been decimated so I agree with the comments Ilovesushi made which is that if AMC shareholders want exposure to AST then they can buy shares in the market rather than AST acquiring AMC for less than its cash value!
AGE
Gazzleberry how do we write to AMC as we do not have an email address for Robin Young and when you do send them a message via their website they do not reply?
It should be patently obvious to the Board of AMC that it is a ridiculous potential offer but then again when you are earning 350k USD pa there is an incentive to keep the gravy train continuing!
AGE
Brookieboy69 have you not heard the story how a 7 foot tall man who could not swim drowned in a river that had an average depth of just 6ft?
His problem was that the river was 8 feet deep as he entered the river but only 4 feet deep on the other side of the river!
AGE
Hi Welsh foggy people can keep on touch with me via gneissifyoucangetit@gmail.com
AGE
Brookieboy69 you using mathematics to try and justify AST trying to pay 50% of the cash value that AMC has.
The cash value is a certainty and if the Board of AMC do not find a suitable RTO then they will return that money to AMC via a second special dividend.
Some one plucked out of thin air a 10% chance of the legal claim being successful and they then multiplied the AST potential legal claim of 500m Euro by the 10% and yet the 500m Euro has also been plucked out of thin air.
Both terms used in the multiplication are highly uncertain!
So we have a situation where AMC shareholders have the chose of receiving the remainder of the 0.35p per share less all the costs that are going to be incurred for running a PLC Company or they can let the Board of AST make an opportunistic offer to obtain 5m USD of cash to keep AST going!
I for one would certainly vote against such an offer
and any sensible AMC shareholder would do the same!
AGE
The potential offer by the Board of AST shows high levels of arrogance on their part as when making a bid for another Company it is usual for the price to be at a considerable premium to the current share price.
You just have to love the phrase that they used “ combine the skills of both executive teams!”
Both Boards have lots of qualifications and many years of experience but what value have they created for shareholders of AMC and AST?
The answer is diddly squat!
They have created value for themselves!
It is surprising that the Board of AMC would even consider such a poor offer!
I estimate the cash retained in AMC after the payment of the dividend to be in the region of 0.35p and AST want to pay just 0.175p.
AGE
you must be joking i have shares in ast and it has been a miserable failure.
ramping about gas in slovenia and then a switch to cuba and bull**** about a compensation claim!
age
The Board of AST are not getting my shares to get hold of the cash as AMC shareholders want it!
AGE