Amala Foods Share Discussion Threads

[dave4545] 31/7/2023 20:59

RNS at the close.

The Company is a cash shell and as such is seeking to identify a transaction that will lead to a reverse takeover.

During the year the Company entered into a Share Purchase Agreement (SPA) with Terra Rara UK Ltd, a mining company, that could have led to a transaction that would have been considered a Reverse Takeover. Terra Rara UK Ltd held Rare Earth Elements (REE) exploration assets via two subsidiaries in Angola and Uganda. These exploration assets are located in close proximity to advanced stage REE exploration assets held by other mining companies. The Company intended to acquire 100% of the share capital of Terra Rara UK Ltd subject to regulatory approvals. The listing was suspended on 23 May 2022. The Company announced the termination of the proposed transaction with Terra Rara UK Ltd on 17 March 2023. This decision was taken due to identified administrative issues relating to some of the mining assets of Terra Rara following further due diligence. Terra Rara are seeking to develop mining exploration assets in two countries in Africa, where due diligence is lengthy and complex. The Company has introduced interested parties who are having discussions with Terra Rara.

The Directors are actively seeking to identify new opportunities for the Company with a view to identifying and completing a successful transaction resulting in a Reverse Takeover.

The Directors have agreed to not receiving any remuneration for the period prior to and during the period of suspension and until a successful transaction reaches the stage of a Reverse Takeover, upon which GBP 125,000 will be issued to the Directors in equity at the readmission price.

The Company raised GBP 405,000 in convertible loan notes during the year ended 31 March 2023 (refer note 12 of the audited financial statements).

Ms Celia Li was appointed to the Board as a Non-Executive Director on 17 March 2023.

It is my sincere hope that after a challenging couple of the years, that a path to generate value for shareholders will be realised.

[firestorm911] 31/7/2023 20:02

Regards,
F911

[firestorm911] 31/7/2023 20:00

Haha we closed it at 0.135p with a small auction, to shield the losses today.

Drip drip drip bang


0.05p, then 0p.


Regards,
F911
RMC

[firestorm911] 31/7/2023 18:37

Look, this pig is going down, I am not talking about DISH; I am talking about the nonce MadMong.

Keep shorting, the first target is 0.05p and administration end of December. Suspension is coming.



Regards,
F911
RMC

[iamthemagnificent] 31/7/2023 14:28

As detailed in the previous corporate update, the Company has retained capital to undertake a reverse takeover and has ensured steps are taken to reduce working capital expenditures at this time including the Directors having agreed not to accrue nor receive any remuneration until a reverse takeover.

The Directors are currently exploring a number of reverse takeover opportunities and hope to produce a shortlist in the coming weeks. The Directors are targeting concluding heads of terms of a preferred target by the late Summer.



See ya late Summer then .... enjoy !

GLA

[moonshine3] 31/7/2023 12:07

Failed pump and dump on friday, Mad mong bought at 0.17p and then it closed at 0.14p. LOL

0.01p is coming then 0.005p.

Pump is over, now the dumping and the shorting

[terminator101] 31/7/2023 08:22

Going up you say. Day after day you say. So how come this pile of lifestyle pish is red? Askingfiramindlessramper

[iamthemagnificent] 28/7/2023 14:25

This share is going up day after day after day, wonder why ?

Ignore the de-rampers I say.

[dave4545] 28/7/2023 14:19

Might pop again

Crazy markets people chasing movers everywhere

[iamthemagnificent] 28/7/2023 14:18

moonshine3 28 Jul '23 - 08:38 - 7418
0.000321
Look at the chart, where it is heading.



==========> UP

[iamthemagnificent] 28/7/2023 13:56

buy buy buy

[iamthemagnificent] 28/7/2023 13:55

Added to my 0.13 holding with some morea
at .14 seems a no-brainer

[moonshine3] 28/7/2023 13:14

Look at the chart, where it is heading.

People who are still in profit will be dumping now. They know it's a pump and dump.

[moonshine3] 28/7/2023 13:08

The selling continues, pump and dump by degenerate losers scumbag

[moonshine3] 28/7/2023 07:50

Look at the chart, where it is heading.

[iamthemagnificent] 28/7/2023 07:45

moonshine - can you put up a chart on the GCG thread, theres a good lad

[moonshine3] 28/7/2023 07:38

Look at the chart, where it is heading.

[moonshine3] 28/7/2023 07:37

Get out before it's too late; the disgusting criminal like Dave, IamMong are big time losers,

ADVFN CRIMINAL SCUMBAGS

[moonshine3] 28/7/2023 07:30

0.13p about to open the 0.1p will be tested