Exactly, hence why we can't go quietly past the 8th without commitments
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I wish I had bought a little more to get over the 3% and be RNSd to have even more weight behind this
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Also, such a shift away from mining clearly shows AMC board have no interest in being a part of whatever happens in the future
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I think if we pass the 8th without causing a fuss we allow them a limitless amount of time to put forward RTOs and have them rejected.
I'm doing everything I can now with the Nomad and AMC to force the distribution immediately
Can't argue with that CT but they appear to be a law unto themselves and do pretty much whatever they like and being BVI certainly helps too.
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It's not necessarily about whether the Pharma or whatever company is any good, although it would be nice if it is....its about how best to get your remaining cash and this will probably be by voting whatever ( within reason) they put in front of us so we can then have the option to cash in when they come back to market with the new company.
If we refuse, there is no guarantee they will pay out a dividend as stated, they will likely just remain delisted for years - whilst spending the remaining capital looking for other opportunities.
So I don't see much choice but to vote for it if I want the option of cashing in.
Also, the new company would be expected to trade at some premium to cash as long as the market has some interest in the company, theres no guarantee of this but it could rise over the first few weeks when listed if the market likes the story and there may be near term news so I think it's the best option we have of to realise some cash from this situation.
It's a hell of a gamble for sure
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Like most of us, bet you weren't expecting that RNS this morning 😂
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You guys should have just taken RY out the moment you got whiff of this nonsense.
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Our BOD are not likely to be involved in the company going forward.
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And in the meantime it’s more expenses being burnt through.
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Not sure what to make of it to be honest. I was a bit surprised previously when they were looking at various mining opportunities and a couple of AI's were mentioned.
Certainly wasn't expecting Pharma
Anything that isn't resulting in is Amur going skint is good news
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Amur Minerals Corp - Company Update #AMC @amur_minerals https://www.voxmarkets.co.uk/rns/announcement/3cdd5368-16db-4388-b997-455cc6846128 #voxmarkets undefined
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You have to remember they also had a year to shortlist opportunities whilst the KM asset sale was going through.
So they've had more like 2 years to find an asset to present to shareholders.
It was disingenuous to state they were reviewing at least 17 separate opportunities in 12 friendly countries as this gave the impression one or more would be presented to shareholders when the reality was they never had any intention of presenting any opportunities to shareholders and merely wanted to waste another year to spend more shareholder money.
Yep, once they delist, our capital is frozen and they can pretty much squander the remaining capital seeking opportunities.
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The reality is that once delisted all aim regulation disappears and the company is run purely on BVI company law.
It's why we as shareholders must get a resolution before the company delists
Yep, that's my concern, they could spend years delisted & seeking opportunities, whilst spending the remaining cash and then we get nothing 🙄
That's why I'd accept pretty much any offer that allows me the opportunity to cash out but maybe the Pharma story is just a ruse to buy them even more time 🤔
They have clearly no regard for those dates & statements 🤷♂
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Disagree very strongly. A company must abide by the information it puts out.
The sale RNS clearly stated a 2nd dividend if an RTO is not approved by shareholders withing 12 months.
The corporate mission statement on the AMC website clearly states shareholder approval by the 8th March.
AMC don't have a leg to stand on for not issuing issuing the dividend now.
It is only by shareholder silence will this prolong into an RTO vote in April / May.
Do you think yesterday's RNS was because they wanted to update us or because I send a couple of emails reminding them of their responsibilities?
Very few pharma juniors are successful. They should have stuck with mining sector where there are an abundance of undervalued juniors strapped for cash. The original RNS stated they would seek to complete an RTO within 12 months. True to past performance they missed the deadline. So this will now run for several months as admission documentation is published and general meeting arranged. And who is to say if this RTO fails they won't have another to pull out of the hat. I will be voting against as matter of principle as I don't trust RY.
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Once money was received, what did you need RY for?
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My other concern is that a sufficient number of shareholders have written off their investment and won’t be bothered or aware enough to vote…so even if we decide it’s an terrible deal, it will be near impossible to prevent.
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I can’t help but reflect back on John B messages. I hope we are both wrong…but frankly what does the AMC BOD have to bring to the pharma sector aside from a passion for continuing their current remuneration?
I’ll read the details with an open mind but seems like nonsense and further delays to me.
A return of the remaining cash as a 2nd dividend is worth about £100k to me.
I would never put that into pharma as I don't understand it well enough.
So to get my votes it will need to be a cracking deal that is really well explained with a robust business strategy
At least in this instance AMC is the fundraise
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I hope it works out great for us and if approved our investment here grows. Unfortunately my experiences with early stage pharma have been disappointments , fund raises and liquidations. I’m cursed but fingers crossed anyway!
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Yeah, but that was the risk / opportunity prior to suspension.
Buy in under 0.2p with a 0.4 ish return or an RTO worth more.
A years salary is fairly irrelevant
Agreed, AMC has lots of cash, a listing and had plenty of time.
To not have found anything worth presenting to shareholders shows that the BOD never really had any interest in it
