RE: RNS14 Nov 2023 16:14
It is interesting that the 3rd largest shareholder in AYM is Rod McIllree, he holds 17.5m shares or around 4.5% of the company, he is CEO of TMOR (More Acquisitions) in effect a takeover vehicle listed on AIM, they were going to raise circa £50m to take over a company called Mega Steel but this deal fell through.
One has to consider the possibility that AYM may be a takeover target, a deal may be a friendly one for example, why would McIllree want to acquire a decent position in AYM (almost certainly via the last placing at 1.5p) without reason.
The recent BOD resignations suggests change is afoot, further Mr Varma (resigned today) recently liked a tweet that was critical of the existing woeful performance of AYM's share price, the tweet in particular related to bucket shop placings by the company.
Looking at TMOR's updates, in particular recent ones, they suggest they are still working on an acquisition, putting two and two together one has to consider Anglesey may be on their menu, if not the whole PLC then maybe part of it.
I do feel the stock is worth a speculative punt, after all it is priced near option money, any positive event you would be looking at a multi bag situation.
DYOR etc.