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Not everyone wants to take up a 19 to 1 RI option, it requires some serious free cash that not everyone has. Some people will want to check out before that - which is a legitimate choice too.
There’s been a lot of chat about the timing of a rights issues and in particular the fear that the day following the court hearing Amigo might initiate one. You will see from the enclosed link that a company must follow a given procedure when implementing a rights issue and to put it simply, it cannot be done in a day! https://corpbiz.io/learning/complete-procedure-for-right-issue-of-shares/
I buy into the long-term argument on the future of rhodium and platinum demand and the implications for SLP. Don’t want to rain on the enthusiasts’ parade but I’m sure the chartists observing SLP are noticing that the 50 day MA is about to turn down through the 200 dma creating a death cross. The short term trend looks challenging despite the healthy rise today.
Your summary is an excellent advertisement as to the quality of discussion on this board. I’m invested here and am encouraged by the constructive outlook of Messers TBTT, Velo et al to remain so. Thanks guys.
The court took issue with the positive share price performance in the run-up to the sanction hearing. For all of us here who are holders it is in our interests that the board doesn’t produce overly positive/enthusiastic rns’. I like this rns because the tone is appropriately solemn yet confirms what we didn’t know at this stage, that AMIGO is looking at an alternative scheme. In the circumstance, I think this is the best news at this stage; there’s enough to keep positive yet not too much so that the share price takes off and we have the same remarks at the 3rd hearing. I have 2m shares at an average price of 12.1p and I’m confident of hitting the £1 target at the very minimum. I’m staying put.
Hey Vinson, I’m no longer on your list, I see. I sent proof of my 1.8m share holding to your Twitter account and bought a further 200,000 last week so I currently own 2m shares. We’re on a roll, amigos!
Hi All, my 1st post here. I own 1,800,000 shares of amigo and will keep them until at least £1 assuming no disaster between then and now.
A comment on the upcoming vote. I had a look at the text of the law governing SOA creditor meetings and the rule is that the vote is based on those that are present at the SOA creditor meeting. I would imagine that Amigo are working hard in the background to secure as many proxies as possible in order to ensure that the outcome is what they would like it to be. The 12th is a Wednesday so wonder what numbers will be bothered to be there in person and effectively compete against the yes proxies. Just a thought.