Afferro Min Share Discussion Threads

[gheebee] 08/11/2013 10:48

That last point didn't seem to apply for the previous slippage.

[irenekent] 08/11/2013 10:27

Surely, as the shares are still trading all the AIM rules still apply. That means they must make any news that can affect the share price available to the market as soon as possible. That also means any change in the final settlement date must be notified immediately it is known.

[gheebee] 08/11/2013 10:14

Kept back for exposure post the denouement I expect.

[taffer87] 08/11/2013 09:43

that's the only good thing about the deal.. management is making a lot of cash out of the deal with getting cash for the loan notes as well.. they will do everything they can to get the cash and make the deal happen.. even if there is another delay..

What I have a problem is .. with lack of news from AFF.. are all drilling results in? Where is the new MRE?

[taffer87] 08/11/2013 09:41

^ WHAT.. no way.. what if the deal falls after delisting..

[gheebee] 08/11/2013 09:05

Another frustrating delay is inevitable....



"With an institutional placing, admission usually takes place within a fortnight of Impact Day. The admission process may continue for up to about a month after Impact Day [release of AIM admission document], either if there is an offer for subscription to the general public or if the company's shareholders need to approve any aspect of the transaction in a general meeting."

"An AIM company will need to issue to the market a statement of its intention to seek admission to AIM ten business days before the proposed admission date. The Nomad will draft and issue that statement. It will also arrange the formal application for admission to AIM, which must arrive at least three business days before admission."

What about just de-listing AFF from AIM to speed things up?

[taffer87] 07/11/2013 23:45

nothing from IMIC shareholder... another frustrating delay?

[the count of monte_cristo] 06/11/2013 18:59

OT Greenroom - did you ever follow up on my post to you on here in regards researching MNC? If you have any questions happy to answer them on the MNC bb. Kind regards, The Count.

[the count of monte_cristo] 06/11/2013 18:59

Cant be long now until IMIC finally get the deal done.

[gheebee] 04/11/2013 15:36

With another day down and no IMIC meeting scheduled there is now every chance that there is a fourth amendment to look forward to.

[someuwin] 01/11/2013 19:31

EK today...

"Afferro (AFF) has still not been taken over for cash as promised at 80p. Do not worry. It shall be. Keep buying at 82p."

[gheebee] 31/10/2013 07:56

I'm saying you can't look at this bid in isolation from the IMIC strategy and relationships. Who knows what other calls on IMIC cash are associated with bidding for the infrastructure contract from Sundance? Delivering on influence (even M Gueant's) still costs money, after all. Thank heavens the key players here have control of other assets and a lot of friends and family. By the way, the Chairwoman of GASOL didn't stay long in post did she?

[foxx999] 30/10/2013 18:44

Gheebee, It's fully funded already isn't it. IMIC had £30mil cash end of June. Don't they just need to sort out some kind of bridging loan as the £30m will be more than enough to buy the remaining 80% of Afferro the don't own excluding Afferro's cash?Fox

[brettmo] 30/10/2013 18:25

Thanks, GheeBee. Interesting thoughts.

[che7win] 30/10/2013 15:41

Why not buy a T+20 now if we expect closure in the next month?

[gheebee] 30/10/2013 09:43

It's only the quarterly report and its available on the SDL ASX page



SDL, Cameroon Govt and China Govt have been liaising. No mention of IMIC.

SDL want to maintain control of rail and port provision.

Multiple expressions of interest and resulting tender documents issued.

Current timetable for decisions.

I'm drawing the speculative conclusion that IMIC are not the dead ringers for this infrastructure role that their Chairman keeps asserting they are. The uncertainty associated with this and a poorer than anticipated take up of IMIC debt have resulted in the delay (the bid is probably not yet fully funded and so the Admission Document can't be published). Something radical, such as say a funding tie up between IMIC and GASOL, may be about to cause the log jam to break and hence the most recent delay being almost unfeasibly short (less than a month now). All pure guesswork on my part and, for the avoidance of any doubt, no accusations of anything illegal in it all.

[brettmo] 30/10/2013 09:07

GheeBee: I am intrigued but cannot open it either.
SDL certainly seem to be edging closer to a JV or deal. Their AGM is 29th Nov. I am very keen to see any possible tie in with IMIC and the Chinese folk they are dealing with because SDL have been out there too with the Cameroon and Congo Govts involving the rail link.
Hopefully your find will join the dots!

[nav_mike] 30/10/2013 08:51

Cant open that link for some reason - care to give us a precis?

[gheebee] 29/10/2013 22:50

Anyone interested in what might be going on between Sundance and IMIC might want to look in particular at pages two and three of this document.



I suggest we now all gather up our spare cash, get ourselves over to the Irish Exchange and buy up as many of those IMIC debt instruments as we can as quickly as we can. It might just be the final push that Mr Cooper and friends need to bring down the final curtain on this panto, just in time for Christmas.

[exbroker] 29/10/2013 14:38

the FTSE notice is wrong and will be withdrawn when they wake up, they are good at not keeping up to date on stock situations. No date yet from IMIC for the meeting so no firm timetable as yet, and you thought the Chinese took there time!!!

[nav_mike] 29/10/2013 13:43

Well the bid price on the loan notes is effectively now zero...

Had a read of the last IMIC accounts and they are already looking debt ridden, with total net assets very little indeed.

It defies belief that LDS and Co have handed AFF over to a company with net assets on the balance sheet of £4m.

It places one hell of a value on IMIC's 'connections' - no wonder the market is doubtful.

[greenroom78] 29/10/2013 13:16

Thanks EC, my mistake.

[effortless cool] 29/10/2013 13:12

Gr78,

The announcement today was with regard to AFF being removed from the FTSE indices. It does not delist until the deal completes, which should be before or on 26 November. This end date has slipped twice already, however.

[greenroom78] 29/10/2013 13:08

Has everyone abandoned this BB? Just trying to get the meaning of the RNS in l234's post which is missing from ADVFN. That suggests delisting from AIM this week, anybody know what the timescale is after that for payment of the 80p?

[greenroom78] 29/10/2013 08:07

Hi all, just wondering if there's a timetable here yet?

Delisting date and 80p payout dates are the ones I'm interested in. TIA.