Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
does anyone know how to buy or sell the Afferro convertible bonds through the matched bargain system? thanks
Thanks Gheebhee. what do you think of the Kuwait link into New? Is Xavier out of money??
So Neil Infrastructure has taken 27% of IMIC. I guess IMIC is now going to be bought out? Or He's about to add a few billion more to his $11billion. You could write a film about this company. Mysteriously connected swiss liberian businessmen found Afren, the found an investment company which takes over a mining company using its own cash.. Enter the Chinese, various banks with bonds and loan facilities, then enter the big boys.. Me thinks something big is cooking either way
Afferro are my biggest holding accounting for about 70% of my portfolio. The profit from this trade is going into IMIC shares as i was lucky enough to buy in below 80p.. I can see IMIC going to £1.20 over the next two years easily as long as the price of iron stays the same. If the price of iron goes down, or China implodes, all bets are off..
Surely time to buy IMIC? If Afferro were undervalued, what are IMIC!
Well, they've finally done it. Behind schedule but they did it..
Have a look at the schedule 1 notice in the rns. It gives the timetable and events.
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=IMIC&ArticleCode=9e6vdpki&ArticleHeadline=Result_of_General_Meeting So the takeover has been approved on both sides.
The moment of truth is appearing.. In 2 hrs we'll know whether I'm getting divorced or taking her to Paris.. Just joking. It's been a long road and hopefully the next stage is on us in a positive manner. No RNS delaying the vote or anything so optimistic..
http://www.investegate.co.uk/intl-mining---infras/rns/result-of-agm/201312041216176944U/
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") COMPANY NAME: International Mining and Infrastructure Corporation plc ("IMIC") COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) : 40 New Bond Street, London W1S 2RX COUNTRY OF INCORPORATION: England and Wales COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26: www.imicplc.com COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: IMIC is in process of acquiring Afferro Mining Inc . This acquisition constitutes a reverse takeover under the AIM Rules. Completion of the acquisition is conditional, inter alia ,on shareholders' approval which is being sought at a general meeting being held on 16 December 2013. Following Admission, the Company principal business will be the exploration and development of iron ore assets in Cameroon which will be its main country of operation. In addition, IMIC will look to acquire interests in or control of junior iron ore miners where there is an opportunity for an infrastructure solution. DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares): 108,007,679 ordinary shares of £0.002 each CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: £11.75 million to be raised (gross)by way of a placing £29.16 million Market Capitalisation on Admission at the Placing Price PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: 57.38% DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED: N/a FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known): Haresh Kanabar - Executive Chairman Ousmane Kane - Chief Executive Officer James Ward - Group Finance Director Dr Rilwanu Lukman - Non-Executive Director Dr Babacar Ndiaye - Non-Executive Director Guoping Liu- Non-Executive Director FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known): Shareholder Number of shares pre-Admission Percentage Number of shares post Admission Percentage Sorena Holdings Limited 10,000,000 16.65 21,574,074 1
Was very happy to see Imic at mines and money in London. Had a long chat about the transaction and the upside. Lets just say feeling more confident!
http://www.imicplc.com/media/pdf/AIMre-AdmissionDocument.pdf Thats the re admission document referred to in this statement http://www.imicplc.com/public/RegulatoryFilings/IMIC_-_Posting_of_Circular_-_FINAL.pdf "The Circular comprises an AIM admission document relating to the Company’s application for readmission of its entire issued share capital as it will be following completion of the Acquisition to trading on the AIM market of the London Stock Exchange"
http://www.imicplc.com/public/RegulatoryFilings/IMIC_-_Posting_of_Circular_-_FINAL.pdf Well IMIC have now given their timetable for completion. This has been an interesting journey to say the least... So December 20th is the date given for full delisting of Afferro shares, and re admission of IMIC shares.
Thanks GheeBhee. appreciate the response. Here's hoping it closes at xmas. As a shareholder of IMIC as well, it'll be interesting to see what happens over the next three weeks. 16th December isnt that long away.. And im looking forward to casting my vote.
Well, there was the expectation that they wouldnt make the deadline as per below. Was expecting the RNS earlier to say that, because they cant do the takeover until IMIC's shareholders agree. IMIC have had new funding approved, dependent on them closing this transaction as per in the links http://www.lse.co.uk/share-regulatory-news.asp?shareprice=IMIC&ArticleCode=ybj6selj&ArticleHeadline=Conditional_Placing and http://www.lse.co.uk/share-regulatory-news.asp?shareprice=IMIC&ArticleCode=r3cfe909&ArticleHeadline=US27_Million_Bank_Facility . They've also issued the AIM readmission document which is a condition of the takeover occuring. Whilst unhappy with the delay, Im happy in the knowledge that IMIc's guys are finally put the finishing touches. GheeBhee might have a different persepctive do, which I'd be happy to consider as he is certainly more experienced at spotting flaws and errors there. Gheebhee your take please?
Everything seems dependent on them acquiring Afferro. The new banking facility, the share placing. I did think that they would seek to retain more control of IMIC trhough a shareplacing or something.. Just waiting for the inevitable RNS from Afferro saying transaction has been delayed till the shareholders vote date. It looks like the transaction will complete now though, no? Unless im reading the tea leaves wrong again...
Imic have had a new banking facility granted subject to the takeover occurring, and secured against Nkout when the takeover occurs.. Surely a good sign? Hope they finish this transaction soon!