Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Geng "They have only 3 months to get this sorted otherwise we get divi number 2"
Where did you get this information from? It's not correct.
They have a further 3 months to sort out an RTO or they will either have to relist as an investment company (AIM Rule 8) or suspend. Further, 6 months to sort out an RTO.
"The Company will be required to make an acquisition or acquisitions which constitute(s) a reverse takeover under AIM Rule 14 on or before the date falling six months from the completion of the Disposal, or be re-admitted to trading on AIM as an investing company under AIM Rule 8. Failing that, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. If the Company's shares remain suspended for six months, admission of the Company's shares will be cancelled." RNS Number: 0000S dated 6 Mar 2023 09:34
Thanks Gazzleberry. JLP that's a blast from the past.
Gazzleberry,
You have been fairly critical of the BOD and with good reason, so what is making you want to 'invest' more? I am guessing you see a few opportunities to trade for a quick profit?
BG I hope so!!
GB
I plan to sit on the shares after the div but will not add and tie up cash until more is revealed. In my opinion a completion of a RTO is few months away. They still need to find one, get shareholder approval, do their due diligence, negotiate, draft terms and conditions..... All this while the shares and my cash is in suspension through AIM rules or choice.
Hello GB, yep I agree , 14th was the date of the RNS, my mistake .
Tdt
Maybe it's got to do with when the FTSE index readjusting itself. Similar to the FTSE 100 index.
"
Readjustment of the index constituents (the companies that make up the FTSE 100) happens every quarter, usually the Wednesday following the first Friday in March, June, September, and December.
"
https://www.investopedia.com/terms/f/ftse.asp#:~:text=Readjustment%20of%20the%20index%20constituents,June%2C%20September%2C%20and%20December.
I think the 14th march still stands as when they become a cash shell.
Astar
just make sure you have unticked the 'reinvest dividend ' tick box!!!!
Hello Astar
I guess, it all depends on whether one has used up the ISA allowance for the previous and current years, also, one strategy would be to use the ISA for shares that pay out dividends yearly.
SCE2AUX
Correct, the only thing you need to worry about is, will you ever get paid !!
GB,
You may be right, my timeline was based on a Google search which I appreciate is not the most reliable.
https://uk.news.yahoo.com/3-companies-shelling-special-dividends-194907379.html
Based on what you have said, 5 weeks is more reasonable. Therefore, potentially the latest ex-divi date is 8th May?
Guess we will find out soon enough.
AMC cash shell = 6th March = rns 14 March 2023
AMC received cash = 14 March
Based on the above
EVENT | DATES | NOTES
----------------------------------------------------------------------------------------------------------
Divide payment of 1.8p | 14/03/23 to 12/06/23 | 90 days payment of divi from when AMC receive cash.
Suspension from trading | 06/03/23 to 06/08/23 | If no completion of RTO within 6 months of AMC becoming a cash shell (notwithstanding AIM rule 8).
Delisting- remaining monies paid to shareholders | 06/08/23 to 06/01/24 | further 6 months from the suspension of trading If no completion of RTO (notwithstanding AIM rule 8).
IF AMC is planning to use the full 90-day payment period for the divi, IMO announcement of the ex-divi date will be 10 to 14 days.... ish before the deadline so around the end of May, the beginning of June. (10 to 14 days based on other companies' ex divi date and payment timelines).
bori550
Guess I am holding off counting my chickens until I can count the money in my pocket!!
Personally, the delay suits me, when I can I will keep adding, anything below 1.7pence is a bonus. Yep, still a chance that the div may not be paid out, but the risk is less than what it was.
Astar, no problems.
Maqsood7, you are wrong
"Following the disposal of Kun-Manie on 06 March 2023, Amur Minerals became an AIM Rule 15 cash shell and accordingly, is required to make an acquisition or acquisitions which constitute(s) a reverse takeover under AIM Rule 14 on or before the date falling six months from the completion of the disposal"
The time is ticking as we type!!
GB
"Everything has to be scrutinised for what has been said and, more importantly, what has not been said"
Agree, I would go as far as to say this about 99% of the CEOs on AIM!!
What I would say is the declining share price and delays over the many years have allowed me to average down to the point that IF the dividend payment becomes reality, my loss is massively smaller, although the investment amount is larger. So in some ways, I am grateful for the decline!!! After the dividend payment, I would not invest any more cash but will keep some shares in the locker just in case something happens !! unlikely though.
For new investors, it’s an opportunity to invest, earn a very small profit (based on the 1.8 div only and not the residual value left over ) and have a free carry of shares. This scenario can only happen with AMC!!!
BUT the risk is as GB, MD and many others have highlighted.
Pappiklon
The actual reverse takeover process shouldn’t take very long, that is one of the main advantages over IPO which could take months vs weeks (omitting any snags).
I am led to believe that AMC has been in informal discussions with candidates, including opportunities going back to when they invested in NRR. In a recent video, RY did say that they have also been approached by several people. But nothing concrete.
I am hoping that during the delay, limited as it was, they have continued discussions and moved some forward.
My understanding, worst case scenario, they have 12 months from completion to do something or will have to be delisted.
kwinnee
agree, although it may be stating the obvious it would be nice of the BOD to give us an update, even to say 'we too are in the dark blah blah blah ', 'we are still waiting....'
The only hope I am clinging to is the fact that they haven't issued an RNS stating the Banks have outright refused the money, I suspect that if there was any leak of this the SP would drop like a bomb down to 0.2 and below!!
No news the SP will draft slowly down.
with Theodoros here, Good luck all!!