Intl Min&IN Crp Share Discussion Threads

[scorpione] 08/1/2016 16:07

I called them this morning; a listing is apparently in the process of being arranged currently. An announcement will follow in due course. 8% pa is a decent return let's just hope that an exit opportunity materialises by December 2021.

[ianbrewster] 08/1/2016 15:11

Got an invitation to give 90 days notice for 19 Jun conversion today from Hargreaves Lansdown.

As the conversion price is a 28 day weighted average, then they have until about 12 May to get a listing somewhere.

I am inclined to hold onto the notes (and 8% pa ?) till I see a listing and some possible exit!

[tyranosaurus] 04/1/2016 13:25

Wasn`t the 22m raised to pay our interest ?

Sorry, that can`t be right - because we`ll get something back.

[noirua] 23/12/2015 23:11

This is the most complicated loan note I have ever come across. In the end we need a boom to take iron ore up to $150 a tonne or more.

[saint27] 23/12/2015 12:14

sorry yes - have caught up now with the recent releases. guess it is what it is - term extended by 5yrs with options to convert every 6 months

so I guess the question is will IMIC look to relist on an exchange somewhere and if so when?
if they do not is there any chance that we would be allocated shares in an unlisted IMIC?
will the notes continue to accrue interest at 8%?
would IMIC offer note holders a reduced value deal to redeem early?

does anyone think there is any chance they do relist? they just raised 22m to keep going so seems a willing ness to keep going

[darlocst] 23/12/2015 11:54

Pursue what? The new note structure has been signed off & approved.

[saint27] 23/12/2015 11:25

quick question as am just catching up with this whole situation. was expecting to receive some cash in January but just catching up - has anyone got a quick take on whats going on and also whether anyone has spoken to the company or FCA or old nomad etc...

obviously looking into everything now but guess some already a few steps ahead. not going to roll over and get stitched up on this


anyone got plans to pursue this?

[parthus] 23/12/2015 07:27

As a matter of interest how does a unvalidated use ADVFN ?

Do you not have to refresh the page every 10 seconds or so ?

So how do you write many sentences on a bulletin board?

Do you write them elsewhere and paste them on here ?

[speedsgh] 21/12/2015 12:57

Result of the Convertible Loan Noteholders’ Meeting (14/12) -

The extraordinary resolution presented to the meeting to amend certain terms of the Loan Notes was passed by the required majority of votes. Implementation of the proposed amendments to certain terms of the Loan Notes, as described in the announcement of 19 November 2015, remains subject to the receipt of approval from the IMIC shareholders at a General Meeting to be held on 15 December 2015.

Result of General Meeting (15/12) -

International Mining & Infrastructure Corporation plc, the Company focused on unlocking the value of iron ore in Africa, announces that the resolution proposed in the Notice of General Meeting of Shareholders (“GM”) held on 15 December 2015 was duly passed. As a result of the Shareholders having approved the resolution, the Company will implement the matters listed below:

...4. Terms of the Convertible Loan Notes (“Loan Notes”), as set out in the Notice of GM and approved by the Convertible Loan Noteholders at the Convertible Loan Noteholders’ meeting on 14 December 2015, shall be amended as follows:... (see full pdf on link above)

[tyranosaurus] 21/12/2015 12:34

General meeting December 15th.
Has anybody heard the result ?

[scorpione] 19/12/2015 16:02

Extension to December 2021 with loan note holder's option to covert every 6 months.

[beeezzz] 19/12/2015 15:37

Not sure what was voted on, does this mean an extension until 2020 or what???

[ianbrewster] 18/12/2015 16:55

blani

on the co web site

www.imicplc.com/media/pdf/Loan_Noteholders_Meeting_Notice.pdf

[blani] 17/12/2015 17:51

Did someone receive any written communication as stated above? And if yes, can you post it?
Thanks!

[blani] 15/12/2015 11:51

For those of you who did not receive this from IMIC


Date: 14/12/2015


INTERNATIONAL MINING & INFRASTRUCTURE CORPORATION PLC

Result of the Convertible Loan Noteholders' Meeting


International Mining & Infrastructure Corporation plc, the Company focused on unlocking the value of iron ore in Africa, announces the result of the meeting held earlier today of the holders ("Loan Noteholders") of the 8 per cent. convertible loan notes ("Loan Notes"), which were issued in December 2013 as part of the consideration for the acquisition of Afferro Mining Inc. The extraordinary resolution presented to the meeting to amend certain terms of the Loan Notes was passed by the required majority of votes.

Implementation of the proposed amendments to certain terms of the Loan Notes, as described in the announcement of 19 November 2015, remains subject to the receipt of approval from the IMIC shareholders at a General Meeting to be held on 15 December 2015.

The votes cast at the meeting, where every Loan Noteholder had one vote for every £0.40 in nominal value of the Loan Note, were as follows:

In favour Against
Resolution 1 44,625,834 98.88% 504,720
1.12%

A further announcement will be made on 15 December 2015 following IMIC's General Meeting of shareholders. The Company will also send written communication to all the Loan Noteholders on 16 December 2015.



For further information please contact:


International Mining & Infrastructure Corporation plc
Ethelbert Cooper, Chairman
Haresh Kanabar, Chief Financial Officer


www.imicplc.com
[phone]

Pareto Securities Limited – Sole Broker
Guy Wilkes / Will Slack


www.paretosec.com
[phone]

Buchanan – Financial PR
Mark Court / Sophie Cowles

www.buchanan.uk.com
[phone]








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[irenekent] 12/12/2015 07:23

This is rigged - my brokers have sent me nothing. Its always the same. If its China, Africa or South America and on AIM forget compliance. AIM should be closed down as its function seems purely to screw investors.

[fairman] 11/12/2015 20:45

I've heard nothing from Selftrade. Sent them a message 2 days ago - no reply!

[ianbrewster] 11/12/2015 14:32

T - so are mine, I got an e-mail yesterday afternoon, but the deadline for instructions was noon today!

[tyranosaurus] 11/12/2015 12:41

My loan notes are in Hargreaves Lansdown nominee account.
I have heard nothing.

[bsg] 10/12/2015 10:13

Simon Cawkwell ‏@scawkwell 29 Jan 2014
I have bought IMIC at 28p. It is now 32p. I am hoping for perhaps 280p on a five year view.

LOL !!

[parthus] 07/12/2015 23:02

If you bought the Afferro shares, then the loan notes are yours via the Nominees. I suppose that would be your Stockbroker. He is obliged to follow your instructions and vote according to your wishes.

If you have the loan notes via a spread bet, then ask your spread bet firm to ask the nominee company that represents them to move the loan notes into your name.

Once in your name ( check with Neville Registrars ) then Neville Registrars will send you Proxy Form. Download sign and send the hard copy ( preferably by next day guarantee, as there isn't much time left )

I have experience of both scenarios.