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AMI African Min.

10.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
African Min. LSE:AMI London Ordinary Share BMG0114P1005 COM SHS USD0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 10.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 10.00 GBX

African Min. (AMI) Latest News

Real-Time news about African Min. (London Stock Exchange): 0 recent articles

African Min. (AMI) Discussions and Chat

African Min. Forums and Chat

Date Time Title Posts
30/6/202308:13Amicrest Holdings Plc20
17/7/201820:56AMI - Another new chapter5,392
30/5/201819:39African Minerals - Support back in focus3
12/3/201718:39African Minerals - Breakout and Beyond3,305
15/1/201603:09AMI TO 5P. YOU HAVE BEEN WARNED807

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African Min. (AMI) Most Recent Trades

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Trade Time Trade Price Trade Size Trade Value Trade Type

African Min. (AMI) Top Chat Posts

Top Posts
Posted at 08/6/2023 07:06 by russman
Offer received for 70p a share!
Posted at 29/11/2022 07:48 by russman
The Takeover Panel has decreed that Mr Lee's concert party must make a mandatory offer of 70p per share by 31 March 2023!
Posted at 13/10/2020 12:33 by russman
received an offer of 75p a share
but Chairman thinks the h court claim is worth 150p.
no accounts filed
another EGM in nov.
Posted at 19/6/2020 16:06 by russman
Lee (Chair) & Elliott remain directors.
Lee has also added 3 more friendly Directors.
Lipien & Y-Starkey were voted out.
Just a question of negotiating a price now.
Lee can pay his loans back for a start.
Posted at 30/5/2018 19:39 by typo56
I have a similar problem, but with a different stock. It's preventing me from moving the SIPP to a different provider. FWIW, Hargreaves Lansdown told me they wouldn't charge an annual fee if they had a SIPP account with a worthless share remaining in it, but Suffolk Life have a different view on business!

What I'm trying to do is sell the holding to an unconnected person for an agreed (low) price. If I sell to a connected person (or to myself in a general trading account) Suffolk Life will hit me with outrageous valuation and transfer fees.

I'm landed with Suffolk Life because they acquired the client base from EPML when they went into administration (for reasons I still don't fully understand). I had no choice in moving to them. The experience of Suffolk Life by my wife and I has been dreadful. We've had funds withdrawn from trading accounts without any prior notice or explanation. It's now 7 months since my wife instructed them to transfer her SIPP. One can't help wonder if this is stalling to hold on to clients and massage their business figures.
Posted at 21/4/2017 08:03 by old fool2
There is a new group being organised to test the legal waters. If you are a shareholder in AMI and are interested in perusing a claim against the company and may be against individuals. If you are interested leave here your email address/telephone number
Posted at 15/1/2016 03:09 by earnestwipplethwaiteiii
Anyone still interested in closing their short position in AMI?
Posted at 24/10/2015 10:12 by knicol46
NEW updated report on AMI joint administrators 25 September 2015
hxxp://www.deloitte-insolvencies.co.uk/a-c/african-minerals-limited-and-african-minerals-engineering-limited-(both-in-administration)/joint-administrators-progress-report-to-25-september-2015.aspx


'There has been a significant level of shareholder interest in the administration of AML and so the Joint Administrators have responded to shareholder queries as far as they are able'

Total spent from joint administrators on case specific matters from 26 March - 25 September 2015: £36k (average rate £825 per hour)

The latest update is they are unsure if there will be anything left to pay unsecured creditors. Shareholders are below this in priority order.
Posted at 01/3/2015 20:25 by casual47
If you read the RNS carefully then it appears:

1. Shandong is taking AMI, TIO, ARPS and FT to court for non-compliance of the shareholders agreement ("shareholders" being AMI and Shandong and TIO and ARPS being the companies they have the shareholding in).

2. In order to make sure that this runs its legal course they requested the issueing of an injunction to prevent AMI from taking TIO and ARPS into administration as that would effectively void the shareholder agreement.

Quite what they hope to achieve by (1) I am not clear, but then we haven't been given any details. Perhaps it relates to misuse of funds or even fraud? Or maybe it is related to the offtake agreement / "Favoured Nation" clause. And Shandong feel that AMI owe them money and is seeking a court ruling on it to force AMI to cough up?
Posted at 02/2/2015 16:43 by casual47
Further to the post from Massey over on LSE.....here's my own calculations

If someone were to buy us out outright for £1 a share then they'd have to pay in total roughly 1,074.4m USD (not taking into account interest on loans and costs for selling out etc)

At the current USD-GBP exchange rate, a £1 share price corresponds to a market cap of 500 million USD (331,917,114 shares in issue).

Assets apart from TIO&ARPS:

1. There is $82.4m left in the restricted bank account. I presume this will be included.
2. Cape Lambert has an mcap of 49m AUD, or 38m USD. AMI owns 19.47%, so that's worth around 7.4m USD
3. Obtala Resources, current share price is 9.45p. AMI owns 21,170,422 shares, so that's worth around 2m GBP or 3m USD.
4. Stellar Diamonds: Not sure how much we hold but it's less than 3%

Did I forget anything?

Total non-TIO&ARPS assets: $93m.

Bonds & Loans:

400m USD bond. AMI owes 100% of this.

At least 7 full months of interest+repayment has been fully paid towards the PXF, so that would leave around 180m USD. AMI owes 75% of this, so 135m USD.

The two equipment finance loans combined were reduced to 120.3m USD as per the Interim Results RNS. AMI owes 75% of this, so 90.2m USD.

There is a shareholder loan from SISG worth 56.3m USD. AMI owes 75% of this, so 42.2m USD.

Total Bonds & Loans (AMI share): 667.4m

So:

500m (mcap in USD when share price is £1) + 667.4m (bonds&loans) - 93m (other assets) = 1,074.4m USD
African Min. share price data is direct from the London Stock Exchange

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