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Well noticed hairydavey,
If there is 2 transfers occuring due to routing through and intermediary then it would be expected to take 6-10 working days.
The lack of an RNS today shows that there is no unexpected hold up
Hi Gazzleberry,
Hopefully not, I see a few other companies have released RNSs to say that they are not affected by the collapse.
As it now appears the funds haven't been received within the usual 3-5 days, I expect AMC are trying to find out what the hold up is.
It might be a day or so, it might be weeks.
Once AMC is cash backed in a western bank, it will be hard for MMs to value it that much lower than the cash balance.
The listing / she'll has a value, and so does RY in the mineral space. Hopefully they can generate value from it
Yup, am going to see this through, may put a chunk of the dividend back in if a decent RTO can be found.
As the dividend price has been set, I'd expect it to be paid out as soon as possible to avoid interfering with an RTO.
Would be nice to get an RNS tomorrow saying funds are in and dividend will be paid within a month
Hi julian
The transaction is complete. We no longer own Kun Manie.
There is the possibility that funds can get held up as would likely route through New York.
If they do, that's AMCs issue, not Sbilovs.
We should hear something tomorrow. Either that the money has been received or it is held up.
I didn't have any difficulty with iii, simply phoned them up, said I wanted to vote yes and asked for email confirmation that my vote was submitted.
Took about 5 minutes
How do you know they aren't?
Circa 400m shares issued in the last couple of years below 1.8p
It's and easy 50% from the s price as contrary to what some posters say, the majority of investors are not stupid enough to vote no, and those that do will have negligible holdings
I'm not debating your choice, just you massively flawed posting telling us all about it
The puppet master being the Russian Federation?
So you think the Russian Federation is pulling the strings here, RY has been told its this or nothing, yet voting no will encourage them to come back and offer more
Unbelievable
$25m within the next 10 months and an $80m cash receiveable, yes, it was clearly a better deal than $35m in 3 months time
The better offer was there, but shareholders turned it down.
Under this offer the BOD take a loss on their shares, their options are worthless and the company will likely be wound up in the near future as well as they'll likely get voted out at the next AGM, they are not recommending it because there is something better coming along.
There is hope and then there is foolishnes
I think you should carefully read the line in the RNS where the board of directors are clearly stating this is the only chance to recover the sunk costs.
This or nothing now, IMO, sadly
The fact is that Tom Bowens will have been heavily involved in negotiating this deal having sold an asset in Russia previously. Nobody is better qualified to have an opinion than him.
He is recommending this deal
He'll likely make nothing from his options before they expire, will take a year for his shares to be back in the money and has the same risks of the acquirer not paying as us.
The great returns, the competition, the Asia angle.... Its all gone and won't be back for years.
With half my family living in a western sanctioned country, I can attest to how dreadful sanctions are for businesses and the population, and they are a fraction of what is imposed on Russia.
Sanctions don't don't always bite immediately, they tend strangle and suffocate a country.
Currency controls, threat of Nationalisation of the asset (BVI is supporting Western sanctions), the likes of Caterpillar have exited Russia etc. etc.
Everything sanction related is relevant to AMC at the present.
I really don't think people understand the impact of sanctions and the severity of those applied against Russia and its counter measures
This is what you need to focus on, from the RNS should the resolution not succeed
$0 million upon Completion of the Transaction (to occur within 60 days of signing the SPA);
$0 million within 12 months of the date of the SPA; and
$0 million within 48 months of the date of the SPA.
$0 million for 10 years from start of production.
Also:
AMC burning through their existing cash trying to continue to progress the deposit.
RY would really need to resign should this vote not pass.
It is impossible to raise future funds
Sanctions will be in place for many years
I hear the concerns regarding RY continuing to draw a large salary of which there is a remedy at this years AGM, but lets park him and look at Tom who I suspect led the negotiations.
Tom must be worth $100m, bought a shed load at 2.2p, has options at 1.75p expiring next year and salary of about £35k.
An immediate return of 4,5 or 6p is a significantly better return than dragging this along with the risk of not receiving the future monies.
Tom supporting this deal should tell you all you need to know
Best deal for shareholders as RY's salary could easily be brought to an end in 6 months.
I believe they are supporting it because it is the best deal.
RY is up for re-election in November and the BOD can't effectively issue any more shares before then due to preemptive rights not passing previously.
I will be against his reelection if a clear strategy hasnt been presented and the pay structure amended to represent the part time nature of the roles
It's worth remembering that a key part of us voting against our Board of Directors in the Crede deal was because they had a contractual responsibility with Crede to continue the deal.
This became apparent when VAST published their similar terms at the time.
There is nothing to suggest that a better deal can be done and no competition to force one. The BOD have a better understanding than us of what is happening and are supporting the deal.
My Yes votes were cast earlier today.