Intl Min&IN Crp Share Discussion Threads

[dlku] 05/9/2015 16:06

Isn't that illegal

[dlku] 05/9/2015 12:01

Didnt LDS and the rest of the AFF board get cash and not loan notes.

[taffer87] 03/9/2015 22:43

you can sell IMIC shares... think whum was asking about the conertible loan notes?

[whum] 25/8/2015 14:15

rossannan how and when did you sell your shares.
i cannot get a quote for mine through hargreaves landsdown

[fairman] 19/8/2015 12:26

Taffer, ....has the feel of a downward spiral. No sign of IMIC actually making any revenue to slow the melt down.

[taffer87] 18/8/2015 14:14

Fairman true... but shortly after that all the other convertibke debt they have issued will convert into ords and AFF shareholders will be left with 10-20%.

[fairman] 18/8/2015 13:52

My expectation is that they will issue us with shares for both the principal and interest. I would expect some shorting of the IMIC shares ahead of the weighted average calculation period- so we will get shares at about 8p. i guess this means that the old afferro shareholders will end up owning 70% of IMIC.

[speedsgh] 18/8/2015 11:24

AFAICS the terms of the IMIC 8% 19/12/2015 convertible loan notes remain as they were upon issue. Not so long (end of Nov latest) before we discover our fate...



"The Convertible Loan Notes have a coupon of 8% per annum, payable on 19 December 2015.
The Convertible Loan Notes and accrued interest will either be redeemed for cash or converted into IMIC plc ordinary shares at the volume weighted average closing price of IMIC plc ordinary shares in the 28 Business Days prior to 19 December 2015, at the Company's discretion. Such decision will be notified to note holders not less than 20 days prior to 19 December 2015."

[taffer87] 27/7/2015 10:11

But will have to get consent from a significant majority (can't recall if 2/3rds or 75%) of specific class of bond holders for change in terms.?

[noirua] 24/7/2015 18:00

The IMIC (AFFerro) 8%, simple interest, convertible loan stock, due for conversion or cash payment in December 2015, looks to be heading for a modification in the terms. No chance of a cash payment unless the Chinese help out and conversion brings its own problems, especially for the main shareholders.
Abrogate, in the header, means to abolish or avoid. More likely to avoid payment and conversion.

[gheebee] 01/7/2015 11:40

Its worth remembering the added complication that AIOG, owned totally by EC, gets a free 10% on top of all new equity in order to maintain its holding ratio.

[nav_mike] 01/7/2015 11:11

bsg

The market in IMIC is so thin you could never do so in decent quantity, and I doubt the BoD would worry about a few private punters making a little, compared to the problem they have in avoiding massive dilution.

With this mob though, all possible forms of shafting will be considered no doubt.

[bsg] 01/7/2015 10:57

I can't see the price being artificially inflated, as we could buy low and sell high! We'll get shafted some other way.

[gheebee] 01/7/2015 09:20

Nothing more than that seen myself. WAFM had a bit of a rally recently and this might go some way to explaining why.

[nav_mike] 01/7/2015 08:32

Sounds like a plan - we all know the price is going to get artificially inflated somehow in the run up to conversion.

Do you have a link to the Sundance events? Have seen their financing update from 30/6

[gheebee] 01/7/2015 08:24

I see that Ethelburt has struck back at Sundance down under. That will teach them to award the EPC contract to a Portuguese company and a South African Bank. Right, how long before it's announced that the new contractors are the IMIC consortium with China funding? Just in time to pump the price ahead of the Afferro loan note dilution I'd say.

[horneblower] 23/6/2015 16:30

Please may I be first in the queue?
I presume IG aren't accepting naked shorts?

[nav_mike] 23/6/2015 16:26

LOL a sale of 30k moves the price down 7%

Wonder what will happen if they convert the bonds and say 10 million plus suddenly need to find a home?

[horneblower] 23/6/2015 16:23

Because they know, even better than the rest of the market, what they are worth...and they are not stupid!

[thomscm2] 23/6/2015 10:23

Then why are they not buying it up at these low prices ?