Share Name Share Symbol Market Type Share ISIN Share Description
Afferro Min LSE:AFF London Ordinary Share CA00818V1031 COM SHS NPV(UK REG)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 88.75p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 105.1 6.8 13.1 93.32

Afferro Min Share Discussion Threads

Showing 42776 to 42797 of 42800 messages
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DateSubjectAuthorDiscuss
17/11/2015
14:14
Strange GheeBee does not post in favour of IMIC anymore!
tradermel
17/11/2015
14:06
There's an IMIC thread.
bsg
17/11/2015
13:32
Basically, yes. The main consolation is that the loan notes never had any value in the first place since IMIC was already totally under water with debt when they issued them. The reason that Afferro's directors voted to accept IMIC's corrupt deal is that they got paid out fully in cash whereas we, the owners, had to accept worthless loan notes in part consideration. It does hurt a little that the directors generally got their shares for free while we had to pay good money for ours. Delboy will no doubt point out that the cash we DID receive was pretty good at the time, but that is dubious since it was OUR cash they paid us with! Anyway, as we are mugs we deserve being shafted by these corrupt people since AIM is the wild west where the rule book doesn't exist.
horneblower
17/11/2015
13:18
Is anybody still out there? What can we do with these loan notes? have we been done up like a kipper?
barius
08/10/2015
09:34
I began speaking to the SFO more than 2 years ago about this and had several emails more recently. I have suggested they talk to the Nomad about why they have resigned before the proverbial hits the fan. I don't anticipate getting any money back but frankly these guys should not be running companies and should get jail time. If this goes South as it will, then I have a long email correspondence with the SFO which will come to light and paint them pretty poorly. The SFO can't say they weren't warned.
livic1971
08/10/2015
07:01
There you go guys! Expect to be issued shares in a de-listed IMIC; it will be many many years before we get our money or maybe not at all if they go bust! What a stitch up! Meanwhile ex Afferro directors enjoying full takeover proceeds in cash............absolutely criminal!
scorpione
21/4/2015
10:35
I just do not understand how the former Afferro directors managed to get away with a deal entirely in cash for themselves whilst leaving THEIR shareholders with deferred cash or shares. If we do not get our money I think serious consideration should be given to forming an action group to sue the directors. Any lawyers amongst us?
scorpione
21/4/2015
08:34
These are definitely not our loan notes Read the last IMIC Annual accounts and you will see under note 20 the various bonds that they are currently looking to restructure. The 'Affero bond' they refer to was raised prior to the AFF deal completing and issue of our loan notes. (The convertible loan notes are listed separately under note 21 of the accounts).
nav_mike
21/4/2015
08:28
Afferro had piles of cash - about £50m - raised via placings and selling Putu.
deltrotter
21/4/2015
08:27
I'm fairly certain that these 8.875% bonds existed BEFORE they took Afferro over.
horneblower
21/4/2015
08:22
Horneblower, I'm certain this is not our loan notes. For a start the numbers don't tally. But anyway, Afferro would have had its own debt financing through bonds and this is what they are trying to restructure, in my opinion.
blah blah
21/4/2015
08:00
I don't know that I would vote for it myself, they can't force us to vote for it.
che7win
21/4/2015
07:04
I originally thought there was no way they would allow the AFF loan notes to convert into shares, as it would distort the ownership structure too much, however on reflection..... Convert the shares, let the share price tank on the ensuing selling, then do a financing placing to the favoured few at rock bottom prices to restore holding % to whatever they want Just a thought...
nav_mike
21/4/2015
06:52
Sorry horneblower, you're correct, not awake yet! As Blah blah suggests, this may be good news for us. If they are dealing with a smaller loan due at a later date than ours it may suggest that we will get paid otherwise why not sort the delay of ours out first?
woodpeckers
21/4/2015
06:50
My best guess is we will be paid out in shares which would probably be the best we can hope for. Won't do the IMIC share price any favours though.
blah blah
21/4/2015
06:47
aye...not the same bonds/notes We still await details of our fate lol Getting some rich bondholders (who probably arent that many in number) to agree is one thing, getting hordes of the great unwashed masses to do the same, is probably more tricky :)
nav_mike
21/4/2015
06:46
Yes horneblower - this might ease some of the financial pressure on IMIC so is hopefully good news for us - not sure how they would go about asking the loan note holders to defer, presumably they can't force us to do so. The loan notes total $48m and are due 19 December 2015.
blah blah
21/4/2015
06:46
We're probably next.
irenekent
21/4/2015
06:42
But this is NOT our Loan Notes which are 8% due 2015!
horneblower
21/4/2015
06:25
As expected..... Intl Mining & Infrast Corp PLC Bond Restructuring Proposal - Afferro Print Alert TIDMIMIC RNS Number : 7843K Intl Mining & Infrast Corp PLC 21 April 2015 21 April 2015 INTERNATIONAL MINING & INFRASTRUCTURE CORPORATION PLC ("IMIC" or the "Company") Bond Restructuring Proposal - Afferro Mining Ltd. International Mining & Infrastructure Corporation plc (AIM: IMIC), the Company focused on unlocking the value of iron ore in Africa, is pleased to announce that its 100 per cent. owned Canadian subsidiary, Afferro Mining Ltd., formerly Afferro Holdings Ltd., ("Afferro"), has invited the holders ("Bondholders") of its US$20 million 8.875 per cent. bond due to mature in 2016 (the Bond) to approve a proposal to modify certain terms and conditions constituting the Bond (the "Proposals"), in line with those announced on 17 April 2015 in connection with certain other outstanding bonds. Key Proposals -- To amend the final redemption date by extending it by 5 years from 30 October 2016 to 30 October 2021; -- To amend the Interest rate by decreasing the coupon payable on the Bond by 3.875 per cent., from 8.875 per cent. to 5 per cent.; -- To increase the repayment amount to be paid at final maturity to compensate for the reduction in interest rate, to 133.1278 per cent. of the nominal amount of the Bond; -- By inserting a new accelerated repayment covenant which will oblige Afferro to make immediate repayment to the Bondholders if Ethelbert Cooper is removed from the office of director and Non-Executive Chairman of International Mining & Infrastructure Corporation plc, of which Afferro is a subsidiary, by a shareholder resolution; and -- To amend the conditions relating to the interest payable date by making the payment of the interest from semi-annual to annual. Ethelbert Cooper, IMIC's Chairman, commented: "Following a review of our debt position, we have made certain proposals to the Bondholders in relation to restructuring of the Bond. The Bond Proposals have been designed to rebalance the group's financing obligations." Afferro has confidentially discussed these amendments to the Bond with certain of the Bondholders and, based on the Bondholders' responses during those discussions, Afferro expects them to be supportive of the Proposals. Quorum and Required Votes The quorum required for the proposed amendments to be considered is one or more holders of the Bond or proxies representing 75 per cent. in principal amount of the Bond outstanding. To be passed, the extraordinary resolution in respect of the Proposals requires a majority of not less than 75 per cent. of the votes cast. If passed, the extraordinary resolution shall be binding on all the Bondholders, and each of them shall be bound to give effect to it accordingly.
woodpeckers
18/4/2015
11:40
Spread Betting and CFDs April Magazine now online at http://bit.ly/1aCCT0d This month's premium features includes Evil Knievil - The UK’s greatest short-seller dissects AIM’s regulatory shortcomings - Oil & Gas Services - M&A action is about to shake-up the sector – read our special report - The Mind of the Master - Jim Mellon shares his latest thoughts on the markets.
richie496
18/4/2015
08:45
We are more in number but they probably control the larger number of notes.
horneblower
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