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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
African Min. | LSE:AMI | London | Ordinary Share | BMG0114P1005 | COM SHS USD0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.00 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
04/3/2015 11:30 | We have 190+ signatures now With 5.21% shareholdings EGM game on | cantrememberthis2 | |
04/3/2015 10:51 | Rotten eggs? | earnestwipplethwaiteiii | |
04/3/2015 10:27 | Do we know where Timis lives in London ? | hdb | |
03/3/2015 19:29 | Doesn't sound good | newswseller | |
03/3/2015 16:53 | Reply from Murray to my follow up email: "I really can't comment on of this at the moment. Some clarity on your final question should emerge over the next week or so." Here is what I asked him: Hi Murray, Apologies for needling you in particular on this, other channels are unresponsive or evasive. Can you elucidate why admin of the project companies was not on the agenda? Was there certainty on the returns not outweighing the debts? Were there legal/governmental obstructions? My understanding is that the Shandong funding option had been exhausted, especially after the very public parting shot of John on this. I know that at the PI level we can only see part of the picture, but it seemed to me that the assets would have been much more valuable if TIO and ARPS were put into administration, thereby removing the hostile influence of Shandong and making the full 100% of the assets available for sale. Have shareholders lost everything or is there still something for the BOD to fight for? Regards | casual47 | |
03/3/2015 15:58 | Casual and ALL - This is the WHOLE reason, to make it so complicated that you as a Private Investor lose the will to deal with what has happened. Legitimate theft, executed to perfection with not a hint of defence from any Executive or Non Exec. All the boys jumping ship knew their cards were marked. This is probably going to be the largest corporate scandal on the AIM this Financial Year and I for one will not sit back and take this at face value. No way. Regulator Liable. Jefferies Liable. Board of AMI Liable. All above are liable in my opinion. Let it be said by Grant79 and others - fully back our efforts. Shell? Bankrupt and skint so worthless, this is a takeover for FREE and why it was allowed to happen stinks of professional robbery. Not happening on my watch. This will be aired and they can run but hiding, sorry no they cant. | cantrememberthis2 | |
03/3/2015 15:42 | All the nitty gritty regarding this transfer of assets has been tied up by now and filed. What you hear today probably was concluded weeks ago. Timis will have agreed to everything and secured himself with a pay off one suspects. He is not doing much shouting on behalf of his shareholders. When they say they are investigating the legalities regarding the takeover you can bet this has already been done and both parties worked together to make the takeover watertight and legal. AIM is a casino, not for investment but gambles only. | medved5 | |
03/3/2015 15:22 | Why did the BOD, as per Murray, believe that admin was NOT the preferred option? (Besides any potential foul play reasons of course) I can't get my head around it. | casual47 | |
03/3/2015 15:16 | It's hard to believe that our Board has been so comprehensively outsmarted over a period of months, but it looks that way. What about the legal advice they took when the agreements with SISG? Surely if they were not watertight then AML has a claim against their lawyers? | earnestwipplethwaiteiii | |
03/3/2015 14:52 | Good afternoon from the LSE board. Talk there is of the misleading RNS's in the past year, which encouraged many to invest on the basis on the unconditional release of $284 million HK funds by SISG to tide AMI over. SISG withheld these funds and have bought the $250 million PXF facility from Standard Chartered,knowing AMI would default, and have claimed TIO as a result of the default. SISG took out an injunction to prevent AMI from going into admin and letting the receiver sell its assets to pay off the debt so SISG could take the lot without having to bid against RIO, Glencore et al for the mine. It seems shareholders have been stitched up well and truly by a combination of dishonesty and incompetence on the part of the BOD, so little wonder we are seeking redress through the courts. You really couldn't make it up. | snott | |
03/3/2015 14:40 | Wonder how much they paid for the PXF? Prob 100m so only 20m more than what's in the project account, pretty scandalous really | newswseller | |
03/3/2015 13:33 | Will the directors just hold hands up and say sorry we was a bit incompetent sorry we did not see this coming we tried our best but just weren't up to the job !!! But you can't claim anything from us as we have tried hard | warwick69 | |
03/3/2015 13:28 | Done deal, authorities have remained silent and impotent on this all. Disgraceful and probably one of the seldom type of events that make a legal case seem a done deal for us Private Investors. Far too much stench in the air to let this one go. Worse than QPP, BHR etc. Awful | cantrememberthis2 | |
03/3/2015 13:28 | Will be interesting to see what the 400m usd bondholders will now do. The current RNS is only affecting the subsidiaries (and our holding in them) - the directors of the AIM listed entity are all still in place and the company remains listed, for now. Will the 400m bondholders call in the debt or will they keep supporting the BOD in whatever follows. From the recent RNS it would also be interesting to know if Gibril is still on the board of the project companies. | casual47 | |
03/3/2015 13:23 | Or been receiving massive brown paper envelopes to look the other way IMO as that is the only conclusion I can make | warwick69 | |
03/3/2015 13:22 | well they may as well take over the whole lot, and continue with the listing, makes no sense not to............. WJ. | w1ndjammer | |
03/3/2015 13:05 | looks like the BOD have been asleep on the job. WJ. | w1ndjammer | |
03/3/2015 12:53 | Good on you. Now we wait for the final nail I suppose, and then it's time to see whether a case can be made in law. | earnestwipplethwaiteiii | |
03/3/2015 12:51 | Interesting that he replied at all. And so tersely. Good! It must have needled him. He didn't reply to the email prior to that (the one where I suggested Admin would be best option and that there were concerns about conflicts of interests/corporate malpractice). | casual47 | |
03/3/2015 12:45 | Hah, well he would say that, wouldn't he? | earnestwipplethwaiteiii | |
03/3/2015 12:42 | From: Murray John Date: Tue, Mar 3, 2015 at 12:37 PM Subject: Re: African Minerals - Shareholder query No Murray John Personal contact details: murrayroad@mac.com m. +1 416 560-1833 EST +0 hours Casual47 wrote: Hi Murray, Would you agree that AMI not invoking administration prior to the recent events was negligent of the BOD? Regards | casual47 | |
03/3/2015 12:22 | I am struggling to understand if any of this can be legal unless AMI has gone into admin ? How can a 25 per cent share holder take over the entire company just by buying some debt ? | hdb | |
03/3/2015 12:07 | Screwed, still need to see if SISG will allow Timis access for Marampa. If so, we then know it's been orchestrated. | seanywauny | |
03/3/2015 11:34 | Yep, you got to laugh!!! ....... Enforcement of security by PXF Facility Lenders African Minerals Limited has been notified of various actions taken by Shandong Steel Hong Kong Zengli Limited (the "Lender"), the Lender under its $250m pre-export finance facility which is currently in default (the "PXF Facility") to protect its interests by enforcing the security that it holds over AML's shares in Tonkolili Iron Ore Ltd and African Railway & Port Services Ltd (the "Holding Companies"), which own AML's 75% shareholding in the Tonkolili operating companies. The Lender has taken control of the Holding Companies by appointing new directors who have a voting majority, and has taken steps to take control of AML's 75% shareholding in the operating companies by appointing replacement directors to those companies. The Lender's sister company, Shandong Steel Hong Kong Resources Limited (both ultimately owned by Shandong Iron and Steel Group), owns the 25% in the operating companies not held by AML. The Company is seeking legal advice on the effectiveness of these actions, and on the responsibilities of the Lender concerning AML and its creditors and shareholders in enforcing its security. | stockriser |
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