We have assets as of 01 Jan of 4.8mil USD, which is 3.8 mil GBP and we're purchasing approx 25pc of shares in a company estimated at 7.5mil, but has plenty of debt, has no employees only the 5 directors, with next to no income stream. After our cash gets converted into 1.95mil, there will be 32.6 million shares in issue, lots of outgoings and would be able to be diluted to 16BILLION.
There's a lot to read, but if my takeaway is correct, it's a no from me.
I’m voting for it, looking for the positive future and where the company will go. You never know they could get taken out by a big pharmaceutical company in a few years. They seem to have an innovative product that seems safe and there is a critical need for.
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or do we - and we're actually getting screwed?
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The Acquisition values the current Amur cash shell at £1.95 million, a substantial uplift of 56.0 per cent. on the market capitalisation of £1.25 million at the time of the Company's suspension in September 2023. ...
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GM on 29th May, shares launched on 31st May.
Name change to CRISM
Proposed board changes, conditional on Admission, with the resignation of each of Robert Schafer, Robin Young, Thomas Bowens and Paul Gazzard, and the appointments of Dr Nermeen Varawalla as Independent Non-Executive Chair, Andrew Webb as Chief Executive Officer, Dr Christopher McConville as Chief Scientific Officer and Gerald Beaney as Independent Non-Executive Director.
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Amur Minerals Corp - Proposed Reverse Takeover #AMC @amur_minerals https://www.voxmarkets.co.uk/rns/announcement/25fc079c-c12f-418a-a497-48722df5f87a #voxmarkets undefined
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Sorry to hear that, hopefully not too much invested
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Gutted for HZM holders today
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I'm sceptical too, but I'll reserve judgement until we see exactly what's on offer. One of the prerequisites was the target would be near revenue earning if not actually revenue earning. The expectations of earnings will need to be clear. Who knows, having cash behind them and publicly listed may be a prerequisite for some larger contracts and some near term growth in share price. I'm surprised it'll take until the end of April to complete the due diligence and finalise the terms though, but this announcement might just shake out other potential suitors. There could yet be a twist or two.
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If it is which it could well be it looks almost scammy!
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Didn’t expect anything different from him…psh poor
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I suspect RY and his family are pretty comfortable.
He was frugal with company money which is likely the same in his personal life.
There is always the argument that RY genuinely believes the RTO they have found will be good for AMC shareholders. I genuinely dont.
I think any real true value of AMC going forward would be in the commodities sector with RY & TB involved
If that's the case, even more reason to object to missing the 8th even more
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Prospects for the Enlarged Group
At Admission, the Enlarged Group will have approximately £1.95 million in cash available. https://amurminerals.com/content/wp-content/uploads/Proposed-Reverse-Takeover-Admission-Document.pdf
i'm voting against it - cut loses and that's that
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i thought we had more than 1.95m in the bank
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As far as I can see the NAV at 23p equates to 0.0014375 per share currently. Did I get that right?
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https://youtu.be/CqY_uGvD87w?si=OsaaklF_7dhsxYxu
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Well, it’s Extruded Pharmaceuticals Ltd. “Website under construction “ they were incorporated in 2016
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I was one. I sure know how to pick ‘em 🤣
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Knocked a few out recently 👍
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I share the sentiment. I was concerned that AMC is acquiring a private company in a sector that has been rife with failure. The BOD are not medical specialists and as the target firm is not listed on any market we are reliant on subjective views on valuation without the reality of market concurrence. There are many risks here in my view and I will also be voting no.
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I’ll vote against for what it’s worth.
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I had a look at who the potential RTO target might be. The only one I can come up with is...
https://oxsonics.com/
Any thoughts?
No surprise that RY has reneged on the further dividend distribution if no RTO agreed by 8th March. He will find some weasel words to hide behind and like Proud Mary will keep on rolling.
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Well, it is suspicious that after 2 years searching for suitable RTOs, RY pulls a Pharma out of his hat 'after' the stated time has expired but I think he knows he's pretty much untouchable thousands of miles away on the sunny BVIs.
He's probably still angry shareholders did not accept his recommended offer as that secured him salary for up to 15 years but he only got a few months salary on the asset sale so he might feel than he should be able to spend the lions share of the remaining cash searching for suitable RTOs once delisted or 'pretending' to 🤔
I don't quite see what gain RY gains from this Pharma thing, he won't be involved so no salary and he holds few shares so why would he bother and not just take the dividend ?
I suspect there is something more sinister to his plan and that his real plan is to delist & just draw the process out whilst squandering most of the remaining capital 🤷♂
