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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| African Min. | AMI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 10.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 10.00 | 10.00 |
| Top Posts |
|---|
Posted at 11/9/2020 04:00 by russman Mr Lee admits that he has defrauded Amicrest shareholders.Lipien & Y-Starkey should counter sue Mr Lee. The lawyers fees mount. A compromise deal for the Parkers final dividend is pragmatic. |
Posted at 16/6/2020 19:15 by russman Another missive, donlt trust any of them.Just appoint a professional administrator and divi it out. |
Posted at 06/6/2020 17:04 by russman EGMs to oust all the Directors on the 19th June.Just liquidate it and divi out the proceeds. |
Posted at 21/4/2017 09:03 by old fool2 There is a new group being organised to test the legal waters. If you are a shareholder in AMI and are interested in perusing a claim against the company and may be against individuals. If you are interested leave here your email address/telephone number |
Posted at 22/2/2016 15:25 by w1ndjammer Can anyone shed some light on this I have not been following proceedings$$$$$$$$$$$$$$$$$$$$ 15 Dec 2015 Re: African Minerals Limited (in administration) (“the Company”) London, 15 December 2015 Rencap Appeal The Joint Administrators refer to their progress report dated 21 October 2015 and note that on 8 December 2015, notice was received from the Supreme Court that Rencap’s application for permission to appeal has been refused. The result of this is that the Court of Appeal decision in the Company’s favour earlier this year is now final. After legal costs the Company will receive approximately USD $34m. There is also the potential for further costs and interest on costs recovery. Receipt of these monies will allow the Joint Administrators to commence work in respect of making an initial distribution to unsecured creditors. Further communication will follow in due course in respect both the timing and quantum of such a dividend. Ian Colin Wormleighton and Neville Barry Kahn were appointed Joint Administrators of African Minerals Limited on 26 March 2015. The affairs, business and property of the Company are managed by the Joint Administrators. The Joint Administrators act as agents of the Company and contract without personal liability. |
Posted at 15/1/2016 03:09 by earnestwipplethwaiteiii Anyone still interested in closing their short position in AMI? |
Posted at 24/10/2015 11:12 by knicol46 NEW updated report on AMI joint administrators 25 September 2015hxxp://www.deloitte- 'There has been a significant level of shareholder interest in the administration of AML and so the Joint Administrators have responded to shareholder queries as far as they are able' Total spent from joint administrators on case specific matters from 26 March - 25 September 2015: £36k (average rate £825 per hour) The latest update is they are unsure if there will be anything left to pay unsecured creditors. Shareholders are below this in priority order. |
Posted at 02/2/2015 16:43 by casual47 Further to the post from Massey over on LSE.....here's my own calculationsIf someone were to buy us out outright for £1 a share then they'd have to pay in total roughly 1,074.4m USD (not taking into account interest on loans and costs for selling out etc) At the current USD-GBP exchange rate, a £1 share price corresponds to a market cap of 500 million USD (331,917,114 shares in issue). Assets apart from TIO&ARPS: 1. There is $82.4m left in the restricted bank account. I presume this will be included. 2. Cape Lambert has an mcap of 49m AUD, or 38m USD. AMI owns 19.47%, so that's worth around 7.4m USD 3. Obtala Resources, current share price is 9.45p. AMI owns 21,170,422 shares, so that's worth around 2m GBP or 3m USD. 4. Stellar Diamonds: Not sure how much we hold but it's less than 3% Did I forget anything? Total non-TIO&ARPS assets: $93m. Bonds & Loans: 400m USD bond. AMI owes 100% of this. At least 7 full months of interest+repayment has been fully paid towards the PXF, so that would leave around 180m USD. AMI owes 75% of this, so 135m USD. The two equipment finance loans combined were reduced to 120.3m USD as per the Interim Results RNS. AMI owes 75% of this, so 90.2m USD. There is a shareholder loan from SISG worth 56.3m USD. AMI owes 75% of this, so 42.2m USD. Total Bonds & Loans (AMI share): 667.4m So: 500m (mcap in USD when share price is £1) + 667.4m (bonds&loans) - 93m (other assets) = 1,074.4m USD |
Posted at 29/1/2015 20:22 by casual47 The separation was set in motion many months ago, at least as far back as August 2014, when Shandong agreed to the release of project funds for AMI purposes.See for example the 15 Aug 2014 RNS which stated: "A condition of the release of these funds into the Project Companies is that there is a financial and operational separation of their activities from AML. In addition, Shandong has requested certain changes to the management structure of the project companies, which has been agreed by the Board of AML." Initially AW was appointed as CEO of both AMI and project companies. Having the same person at the helm of both is of course not a good way to guarantee a separation of AMI and project companies so it makes sense that in December last year AW stood down. What the full impact is of this separation is puzzling for me too (What were the Ts&Cs of the separation? I don't think we were told -- Should we have been?) Why we have this strange seemingly opposing emails from AW and Gibril....I don't know. If this is a stitch up (let AMI sink while TIO and ARPS survive) then it must have been a long game one as the roots of it go as far back as August last year, if not longer..... AMI won't just "lose" their 75% stake of course -- this can still be sold off....even in Admin. And then we are back to the same discussions as before: Who will pick it up? What happens to the mining lease which AMI holds? Etc Etc |
Posted at 20/1/2015 17:15 by casual47 Seany -- there is international law and reputation to consider so I don't think it will be as easy as that. This is not the time for GoSL to put off foreign investment.This certainly is one hell of a gordian knot. No wonder negotiations are so protracted. There are good reasons to assume that the GoSL is behind the AMI board: see the "concurrence" statement, the meetings between AMI BOD and Gov't since suspension, both Gibril Bangura AMI SL CEO and Anthony Navo AMI Comms are rising stars in SL politics, the ease with which FT took over Marampa and perhaps even the absence of a hostile takeover/fact that AMI is still not in Admin are signs of this. AMI holds the lease and its subsidiary TIO the licence. Shandong has a 25% stake in TIO and ARPS. TIO and ARPS are the borrowers of the PXF with AMI the parent guarantor. If AMI goes into admin then what happens to TIO and ARPS? Why hasn't there been any action from the lenders of the PXF, what is keeping them from starting legal proceedings? |
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