Amur Minerals Share Discussion Threads

[inaminute] 22/5/2023 14:50

Any shareholder agreeing to not receiving the payment must need their head looking at. Zero credibility and contemptuous treatment of shareholders hardly a basis for trust as to future projects.

[chris cat] 22/5/2023 11:54

Thanks Jacknife, that all makes perfect sense.

[jaknife] 22/5/2023 11:30

"What on earth are they doing with it."

1. Finalising the annual accounts?

Dividends can normally only be paid out of retained earnings as shown by published accounts. Hence a UK plc can only pay dividends by reference to the last published accounts or it must publish (and file at Companies House) interim accounts. However, AMC isn't a UK plc, it's a BVI company and can pay dividends however it sees fit and out of whatever reserve it sees fit to, including capital reserves. But it still makes sense for AMC to pay the dividend by reference to the most recent published finals. If you were a director then that's what would feel most natural.

2. Finalising a Capital Restructuring/Circular

The last published accounts for AMC don't include a solo balance sheet for the PLC and so it's difficult to know what the status of the retained earnings is at the PLC level:



The consolidated balance sheet is there but dividends are paid by reference to individual solo accounts, NOT consolidated accounts. The consolidated balance sheet suggests that there's material share capital and losses on the retained earnings reserve.

Perhaps the board would like to see a traditional capital restructuring (cancel share capital to create distributable reserves)? It's possible that there are negative UK tax consequences of paying a dividend out of a capital reserve? However, a circular still needs to be produced setting out the process, getting external legal/tax/markets input, etc. These things don't happen overnight

3. Touting round the shell to find a big acquisition

That's the one that the market fears. *IF* they could find something chunky to reverse into the shell in those three months, then that would give them a "Plan B" to pitch to shareholders as an alternative to returning cash.

JakNife

[chris cat] 22/5/2023 09:15

The distribution from this will be pennies to me as I only had a small holding, however the principle of these guys holding the funds for so long absolutely stinks. What on earth are they doing with it.

[mackie] 10/5/2023 14:43

I still doubt it, tricker than a cart load of monkeys this lot. Look forward to being proved wrong

[inaminute] 09/5/2023 18:36

Did you ever doubt it?

[doc60] 09/5/2023 10:48

What's the betting they finally cough up on the 11th June 😡

[mortlolc] 09/5/2023 09:40

90 days from receiving the $35 million is 12th June

[chris cat] 09/5/2023 01:00

I’ve emailed them twice and they haven’t responded. Very poor

[aventine] 14/4/2023 17:25

I would have thought ignoring a shareholder approved course of action and associated timeline would be pretty good grounds for a disqualification order.

[chris cat] 14/4/2023 16:50

My concern is that they "Find" an asset to spend the money on instead and I simply do not trust them to extract any more value. Essentially they are turkeys voting for Christmas once the divi is paid...unless they retain so much residual cash in the company to continue paying their own salaries for a significant period whilst they look for another asset. AIM Lifestyle

[chris cat] 14/4/2023 16:44

I emailed them 2 weeks ago asking why it should take so long when they already have the cash.....Didn't even give me the courtesy of a response.

[aventine] 14/4/2023 16:26

Radio silence accompanied by constant trickle of purchases makes one wonder if someone is buying sufficient shares to control a second shareholder vote on the dividend. Pity disclosure rules are so poorly policed.

[chris cat] 29/3/2023 10:04

Skashaer....that's a scary thought but could explain why they are taking so long to pay a divi when they've got the cash. I guess one they pay the dividend they are effectively turkeys voting for Christmas. I haven't been invested here long but would not not trust this BOD with further investment. Divi asap please and then I can move on.

[skasher094] 28/3/2023 16:56

Many times a divi offered but what's the odds of this one being paidTaking into account they are looking for a new business If the right business comes up but is more expensive expect to have to vote for a decreased divi versus a larger purchase

[petgeo] 23/3/2023 08:33

Same here ;). Need the money

[chris cat] 23/3/2023 08:25

I'd rather I get the interest than them

[petgeo] 22/3/2023 20:13

I think three months of interest on 35 million is a factor to be considered.

[chris cat] 22/3/2023 11:47

Does anybody have any thoughts on why they need to take so long to pay out the dividend? Surely now it's all approved and they have the cash it should be paid as soon as possible?

[markettimer] 21/3/2023 13:30

That email address is not correct

[duxy786] 18/3/2023 01:41

His email [e-mail]

[skasher094] 16/3/2023 17:03

Even though the buyer paid 35 million if they keep buying shares they will get the dividend 1.8 plus the free carry that they Can sell down after divi paid to further minimise their costs

[beaversbad] 16/3/2023 15:45

No, but I've got his home address if you want to pop round ?

[agneissearner] 16/3/2023 11:54

Does anyone have Robin Young's email address?