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Well. Maybe he doing reverse psychology? Secretly buying up shares at lower price. Hahah. But yes, not sure his true agenda.
risktaker ( Date: 05-Oct-2017 06:13) Posted:
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Now you know why he spend so much time trash talking the company.
Revenge never works... only makes you bitter and lives in the past and keep reliving your pain. Moves on...
risktaker ( Date: 05-Oct-2017 06:13) Posted:
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This guy likely brought @40c n sold @25c ...the way he talk... he hate alliance
andychew.eh ( Date: 05-Oct-2017 00:35) Posted:
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But a lot of investors quit half way, which is seemingly the right thing to do for a discipline investor to put a stop loss. I only see a few familiar faces here now. Lol. Hopefully those who quit or havent had a chance to invest, invest now? Hehe generate the momentum.
I hope it gap up.
luanboo ( Date: 05-Oct-2017 06:01) Posted:
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What's important is AMAL is now fully funded with minimum debt to ride the upsurgiing lithium wave.
All the financial woes and obstacles had been addressed. Now it's the time to thrive and the rest is just history.
For me and I believe many others who had invested, we already knew the company was in bad shape due to the few years of losses since listed in 2014. We had invested because of the turnaround story and it's potentials to produce revenue and cashflow in the near future. Let's move ahead and rewards the believers.
BBs had done the samel for burwill based on their share price correlations. I opined that both the co. had been working on the shares subscription ar least few weeks back, maybe bcl is privy to the resource upgrade and update. It' s a booster for such an injection of funds. I' m more intrigued about the saga episode. if the wolf never made an issue out of it, wherein the share price dropped to 0.22, wiping out most of the retailers who bought had high 0.35 to 0.42, then bcl would potentially be paying for the shares subscription at a higher weighted average (which might not be as attractive). so this saga turns out to be a blessing in disguise?
i shared the same sentiment on the timeline for the receipt of funds from bcl. now with this shares placement, next will be the tantalum off take, resource upgrade, pipeline of construction works at bald hill, business continuity and sustainability by highlight the finanical liquidity and stability. very interesting.
i shared the same sentiment on the timeline for the receipt of funds from bcl. now with this shares placement, next will be the tantalum off take, resource upgrade, pipeline of construction works at bald hill, business continuity and sustainability by highlight the finanical liquidity and stability. very interesting.
amlithiumpower ( Date: 05-Oct-2017 05:14) Posted:
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Something intrigued me. Ha&hellip they know they have to convert the prepayment into shares subscription regardless how much is the conversion and final price to able to make the same payment out on 30 Sep 17 which is a Sat. Quickly, AM issue a trading halt early on Monday morning 2 Oct 17 in order to discuss in details, by which all the VWAP and last trading price had already set. 14 Sep 17 was the last reversal for SP to rebound from its low. So, before all these happen, I suppose the insiders and the BBs have already know or are tasked to ramp up the SP for the ideal 0.2972 VWAP. Ha&hellip maybe we should all go and buy a lottery ticket on this number 2972.
Let&rsquo s break down the details.
1) Burwill negotiated for a win by converting the last prepayment into a share placement. However, the prepayment will be repaid by 15% instead of 20%.
2) Burwill will need to extend A$4.8m loan at 11% interest rate by 30 Oct 17 which is a secured loan tied to the AM&rsquo s interest in the new plant, all loans and interest payable by 31 Dec 19.
3) Ok, the delivery date for first shipment is delayed to April 2018. Wow&hellip I thought this is a offtake agreement and placement subscription. Seems like a updated operational process.
4) Now AM will sell all its share of the production up to 40k tonnes annually. Interestingly, Burwill had already exercised its right to purchase all excess for the first 2 years.
Now let&rsquo s drill into the shares placement and its timeline.
A$4.75m for 17,408,077 shares on 30 Sep 17 (S$0.26748)
A$5.0m for 19,894,945 shares on or before 6 Oct 17 (S$0.26748)
A$5.2m for 19,601,756 shares on or before 15 Oct 17 (S$0.28234)
A$5.0m for 17,905,450 shares by 31 Dec 17 (S$0.2972)
At one glance, it might look a decent timeline to receive the money. But after serious thoughts on it, I believe it will be a timeline for release of vital news. 30 Sep 17, 6 Oct 17, 15 Oct 17 are too close to say that Burwill need more time to raise the money. It seems to be various checkpoints for AM to deliver so Burwill will be able to release the money comfortably. Minus A$4.75m from this new agreement, Burwill have committed additional A$20m (5.0+5.2+5.0 and loan of 4.8m). With this kind of funding commitment, I think there should not be any issue for the plant working capital requirements already. It will be interesting to see if how Tawana is going to raise their commitment on it since Lithco is not a listed company for Burwill to be interested in their equity.
Let&rsquo s break down the details.
1) Burwill negotiated for a win by converting the last prepayment into a share placement. However, the prepayment will be repaid by 15% instead of 20%.
2) Burwill will need to extend A$4.8m loan at 11% interest rate by 30 Oct 17 which is a secured loan tied to the AM&rsquo s interest in the new plant, all loans and interest payable by 31 Dec 19.
3) Ok, the delivery date for first shipment is delayed to April 2018. Wow&hellip I thought this is a offtake agreement and placement subscription. Seems like a updated operational process.
4) Now AM will sell all its share of the production up to 40k tonnes annually. Interestingly, Burwill had already exercised its right to purchase all excess for the first 2 years.
Now let&rsquo s drill into the shares placement and its timeline.
A$4.75m for 17,408,077 shares on 30 Sep 17 (S$0.26748)
A$5.0m for 19,894,945 shares on or before 6 Oct 17 (S$0.26748)
A$5.2m for 19,601,756 shares on or before 15 Oct 17 (S$0.28234)
A$5.0m for 17,905,450 shares by 31 Dec 17 (S$0.2972)
At one glance, it might look a decent timeline to receive the money. But after serious thoughts on it, I believe it will be a timeline for release of vital news. 30 Sep 17, 6 Oct 17, 15 Oct 17 are too close to say that Burwill need more time to raise the money. It seems to be various checkpoints for AM to deliver so Burwill will be able to release the money comfortably. Minus A$4.75m from this new agreement, Burwill have committed additional A$20m (5.0+5.2+5.0 and loan of 4.8m). With this kind of funding commitment, I think there should not be any issue for the plant working capital requirements already. It will be interesting to see if how Tawana is going to raise their commitment on it since Lithco is not a listed company for Burwill to be interested in their equity.
Poor Fiona Leaw Mun Ni, she was be tasked to help her boss Suen Sze Man to release the last announcement after 1.50am. Ha... even misspelt wrongly Company secretary as Compnay secretary. Guess they really sweat it out to get these announcements out in time. As of now 4.30am, there' s still no update at their corporate website. At least this time they are getting the tempo right, don' t they?
http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content& B=AnnouncementToday& F=7K0KQPIQ55IK2X1K& H=b4d92fe3add80c29d1b5f1ea303fbfe1807e15bc67b4f7293270e852a0c3c350
http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content& B=AnnouncementToday& F=7K0KQPIQ55IK2X1K& H=b4d92fe3add80c29d1b5f1ea303fbfe1807e15bc67b4f7293270e852a0c3c350
amlithiumpower ( Date: 05-Oct-2017 04:21) Posted:
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Wow... Such a elaborate details to be released at the wee hours man. Seriously, i think the moon cake works. Ha...
amlithiumpower ( Date: 04-Oct-2017 19:37) Posted:
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Glad the 0.01% happens.... lets fly
Atom99 ( Date: 05-Oct-2017 02:25) Posted:
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Another issue. Placement at 21.5 cts is a crap. Don't know how u comprehen. The previous A$4m was a loan to Amal on offtake agreement. Now it become a payment to Amal for the shares, no need to repay this amount LIAO. So easy to interpret cannot understand meh?
Atom99 ( Date: 05-Oct-2017 02:03) Posted:
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1) AMAL Announced request for lifting of TH.
2) ANNOUNCEMENT PURSUANT TO RULE 704(4) OF THE CATALIST RULES (AS DEFINED
HEREIN) OF THE SGX-ST (AS DEFINED HEREIN) &ndash EMPHASIS OF MATTER BY THE AUDITORS
ON THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR
ENDED 30 JUNE 2017
Pursuant to Rule 704(4) of the Listing Manual Section B: Rules of Catalist (&ldquo Catalist Rules&rdquo ) of the
Singapore Exchange Securities Trading Limited (&ldquo SGX-ST&rdquo ), the Board of Directors (the &ldquo Board&rdquo ) of
Alliance Mineral Assets Limited (the &ldquo Company&rdquo ) wishes to announce that the Company&rsquo s
independent auditor, Ernst & Young (Australia), had without modifying their opinion, included in the
Independent Auditor&rsquo s Report an emphasis of matter in respect of the Company&rsquo s ability to continue
as a going concern on the audited financial statements of the Company for the financial year ended
30 June 2017 (the &ldquo Audited Financial Statements&rdquo ). A copy of the Independent Auditors&rsquo Report,
statement of comprehensive income for the year ended 30 June 2017, statements of financial
statements as at 30 June 2017 and an extract of Note 2(c) from the notes to the Audited Financial
Statements are attached to this announcement for information.
Notwithstanding the above, the Board is of the opinion that the Company will continue as a going
concern for, inter alia, the following reasons:
(1) The management has assessed the Company&rsquo s financial position and cash flow forecast for
the next twelve months and is satisfied that based on the ongoing discussions with relevant
parties, they will be successful in securing additional funds through debt or equity issues to
enable the Company to continue its operations and meet its obligations for the foreseeable
future. Thus, it is appropriate to prepare the financial statements on a going concern basis
(2) On 4 October 2017, the Company has entered into a subscription agreement (&ldquo Subscription
Agreement&rdquo ) with Burwill Commodity Limited (&ldquo BCL&rdquo ), a wholly-owned subsidiary of Burwill
Holdings Limited, a company listed on the Mainboard of the Hong Kong Stock Exchange,
pursuant to which BCL has agreed to pay an aggregate of AUD19,575,000 to the Company in
consideration for the subscription of an aggregate of 74,810,228 new ordinary shares in the
capital of the Company to be allotted and issued in tranches to BCL, subject to the terms and
conditions as stipulated in the Subscription Agreement. Please refer to the announcement
released separately by the Company on the same day in relation to the Subscription
Agreement.
(3) BCL has also agreed, pursuant to the terms of a binding term sheet entered into between
BCL and the Company dated 2 October 2017, to provide a secured loan amounted to A$4.8
million to the Company at an interest rate of 11% per annum.
The Board (i) is in the opinion that sufficient information has been disclosed for trading of the
Company&rsquo s securities to continue in an orderly manner and (ii) confirmed that all material disclosures
have been provided for trading of the Company&rsquo s shares to continue.
Shareholders of the Company are advised to read the Audited Financial Statements in its 2017
annual report, which will be despatched to Shareholders in due course. 3))Also announcement of:
OFFTAKE AGREEMENT AND
(B) SUBSCRIPTION AGREEMENT FOR THE PROPOSED PLACEMENT (AS DEFINED HEREIN)
1. INTRODUCTION
The Board of Directors (" Board" ) of Alliance Mineral Assets Limited (" AMAL" or the " Company" ) refers to the announcements (i) dated 4 May 2017 in relation to the Lithiium Concentrate Off-take Agreement (" Off-take Agreement" ) regarding the Bald Hill Project dated 20 April 2017, entered into between the Company and a wholly-owned subsidiary of Burwill Holdings Limited, Burwill Commodity Limited (" Burwill" ) and (ii) dated 20 September 2017 in relation to the discussions with Burwill on the third and final prepayment of A$4,375,000 from Burwill that was due on 15 September 2017 (" Amount Due" ) and Off-take Agreement (" Announcements" ).
Unless otherwise defined, all capitalised terms used herein shall bear the same meaning as in the Announcements.
Further to the Announcements, the Board wishes to update shareholders of the Company (" Shareholders" ) that the Company had on 2 October 2017 entered into a binding term sheet (" Binding Term Sheet" ) with Burwill to, inter alia, vary the terms of the Amount Due and certain other terms of the Off-take Agreement, as well as raise additional funds from Burwill.
Subsequent to the Binding Term Sheet, the Company and Burwill (" Subscriber" ) had on 4 October 2017 entered into a subscription agreement (" Subscription Agreement" ), pursuant to which the Company has agreed to allot and issue to the Subscriber up to 74,810,228 ordinary shares in the capital of the Company (" Aggregate Subscription Shares" or " Subscription Shares" ) in tranches and the Subscriber has agreed to subscribe for or procure its nominee(s) to subscribe for the Aggregate Subscription Shares, for an aggregate subscription consideration of A$19.575 million (" Aggregate Subscription Consideration" ), upon the terms and subject to the conditions of the Subscription Agreement (" Proposed Placement" ).
2. BINDING TERM SHEET ?? VARIATION TO THE OFF-TAKE AGREEMENT
The salient terms of the Binding Term Sheet varying the Off-take Agreement are as follows:
2.1 Burwill will pay to the Company the Aggregate Subscription Consideration for the Aggregate Subscription Shares as further elaborated in paragraph 3 below.
2.2 The Amount Due under the Off-take Agreement will no longer be paid by Burwill to the Company. Instead, the same amount of A$4.375 million has been paid by Burwill on 30 September 2017 as part of the Aggregate Subscription Consideration for the subscription of Tranche 1 (as defined herein)
2
2.3 Burwill will extend a loan of A$4.8 million on or before 31 October 2017 to AMAL, with interest accruing at 11% per annum. The loan will be secured by AMAL granting a security interest over AMAL&rsquo s interest in the new plant on the Bald Hill Project (subject to AMAL obtaining the approval of Lithco to the aforesaid grant of security interest). The principal amount and interest accrued are repayable in full on or before 31 December 2019 (" Loan" )
2.4 The delivery date for the first shipment of lithium concentrate shall be delayed to April 2018 and
2.5 The prepayments made by Burwill shall be repaid from 15% (instead of 20%) of each lithium concentrate shipment
2.6 Should delivery of the first shipment of lithium concentrate of 5.5% be delayed, AMAL may deliver 2 shipments of lithium concentrate of a grade lower than 5.5% to Burwill instead and
2.7 AMAL shall sell all of its share of production of lithium concentrate to Burwill on an annual basis, up to 40,000 tonnes. Thereafter, Burwill has a right of first refusal to purchase the excess lithium concentrate produced (if any). Burwill has exercised its right to purchase all excess lithium concentrate produced (if any) for the first 2 years.
3. PROPOSED PLACEMENT
3.1 The Subscription Agreement formalises the terms in the Binding Term Sheet for the Company to issue and allot and Burwill to subscribe for the Aggregate Subscription Shares at the Aggregate Subscription Consideration in the following manner:
(a) A$4.375 million has been paid by Burwill on 30 September 2017 as subscription consideration for 17,408,077 1 Subscription Shares at an issue price of S$0.26748, being 10% discount to the volume weighted average price of the AMAL&rsquo s shares of S$0.2972 on 29 September 2017 (" VWAP" ), being the full market day prior to the date on which the Binding Term Sheet was signed (" Tranche 1" )
(b) A$5.0 million to be paid by Burwill on or before 6 October 2017 as subscription consideration for 19,894,9451 Subscription Shares at an issue price of S$0.26748, being 10% discount to the VWAP (" Tranche 2" )
(c) A$5.2 million to be paid by Burwill on or before 15 October 2017 as subscription consideration for 19,601,7561 Subscription Shares at an issue price of S$0.28234, being 5% discount to the VWAP (" Tranche 3" ) and
(d) A$5.0 million to be paid by Burwill by 31 December 2017 as subscription consideration for 17,905,4501 Subscription Shares, with the issue price being equivalent to the VWAP (" Tranche 4" )
Note:
1 Based on an exchange rate of A$ 1: S$1.0643.
3.2 For the avoidance of doubt, the Company is only able to use the respective subscription considerations received after the issuance and allotment of the relevant Subscription Shares.
3.3 In the event any of the payments to be made under paragraph 3.1 are not made by the relevant deadlines, the sum of A$4.375 million paid by the Subscriber as the second prepayment under the Off-take Agreement shall be forfeited by Burwill and
3
retained by the Company, and the Company shall have no further obligations to repay the aforesaid sum to Burwill.
3.4 Immediately following the payment for Tranche 3, the Company may appoint, and procure its board of directors to appoint, a candidate nominated by the Subscriber as non-executive director of the Company, subject to the requirements of the Corporations Act 2001 (Cth), the Catalist Listing Rules and the requirements of the Sponsor or SGX-ST as the case may be.
3.5 The Aggregate Subscription Shares are intended to be issued pursuant to the general share issuance mandate obtained at the annual general meeting of the Company held on 26 October 2016 (" 2016 AGM" ) (" Existing Share Issue Mandate" ) or the new general share issuance mandate to be obtained at the forthcoming annual general meeting of the Company (as the case may be) (" New Share Issue Mandate" ), which authorises the Directors of the Company to allot and issue ordinary shares in the capital of the Company (" Shares" ) not exceeding 100% of the total number of issued Shares as at the date of the annual general meeting, of which the aggregate number of Shares to be issued other than on a pro-rata basis to the existing Shareholders shall not exceed 50% (excluding treasury shares and subsidiary holdings).
3.6 The number of issued Shares as at the date of the 2016 AGM was 480,763,760 Shares. From the date of the 2016 AGM up to the date of this announcement, 11,400,000 options were previously granted under the Existing Share Issue Mandate pursuant to the engagement agreement dated 14 March 2017 entered into between the Company and the Company&rsquo s corporate advisor, Canaccord Genuity (Australia) Ltd. As such, the remaining maximum number of Shares that can be issued under the Existing Share Issue Mandate other than on a pro-rata basis is 228,981,880 Shares. Accordingly, the allotment and issue of the Aggregate Subscription Shares falls within limits of the Existing Share Issue Mandate.
3.7 The Aggregate Subscription Shares, when fully paid and issued, shall be free from all claims, charges, liens and other encumbrances whatsoever and the Aggregate Subscription Shares, shall be freely transferable and rank pari passu in all respects with and shall carry all rights similar to the existing Shares, except that they will not rank for any dividend, right, allotment or other distributions, the record date for which falls on or before the relevant date of issue of the Subscription Shares.
3.8 The Company&rsquo s issued and paid-up share capital will increase from 480,763,760 Shares as at the date of this announcement (" Existing Share Capital" ) to 555,573,988 Shares (" Enlarged Share Capital" ) after the allotment and issue of the Aggregate Subscription Shares. The Aggregate Subscription Shares represent approximately 15.56% of the Existing Share Capital, and approximately 13.47% of the Enlarged Share Capital.
3.9 The Company&rsquo s Sponsor will be submitting on behalf of the Company, the listing and quotation notice for listing and quotation of the Aggregate Subscription Shares on the official list of the SGX-ST (the " LQN" ) and an announcement will be made to notify the shareholders when the LQN is received. The Company has undertaken to the Subscriber to apply for and diligently seek, with such assistance from the Subscriber as may be reasonably requested by the Company, the LQN on or before the (30) business days following the date of the Subscription Agreement or such other date as may be mutually agreed in writing between the Company and the Subscriber.
3.10 The Directors of the Company are of the opinion that, after taking into consideration the present bank facilities available to the Company and the proceeds from the Aggregate Subscription Consideration as well as the Loan, the working capital available to the Company is sufficient to meet its present requirements.
4
|
3.11 The Aggregate Subscription Consideration of A$19.575 million to be received, after deducting for expenses in connection with the Proposed Placement (" Net Placement Proceeds" ), will be used to fund AMAL&rsquo s share of the capital expenditure for the Bald Hill Project as previously disclosed in AMAL&rsquo s announcement on 4 May 2017, the operational expenditure for the Bald Hill Project, and general working capital in the following estimated proportions: Use of Proceeds |
Percentage Allocation |
|
Capital expenditure for the Bald Hill Project |
35 % |
|
Operational expenditure for the Bald Hill Project |
53 % |
|
General Working Capital |
12 % |
Atom99 ( Date: 05-Oct-2017 02:03) Posted:
|
Wow! Very insightful analysis.Thank You very much.Crap your hands.
If I agreed with you,we' d both be wrong.
" andychew.eh ( Date: 04-Oct-2017 23:40) Posted:as below"
If I agreed with you,we' d both be wrong.
" andychew.eh ( Date: 04-Oct-2017 23:40) Posted:as below"
| Many AM shareholders secretly disappointed on the deal.( You talk to these unhappy shareholders? How Many of them?) 1. Net Assets of AM only AUD 14.4 mil. Market Cap now $144.23 mil. 2. No operating income. AM losses AUD 4.08 mil for 2016 and losses AUD 4.8 mil for 2017. 3. The placement price is at 27.8 cts , less than the closing price of 30 cts. And of the AUD 19.5 mil , AUD 4.375 mil is part of the Offtake agreement meaning actual subscription amt is lower than AUD 19.5 mil , about AUD 15 mil . Means placement price about 21.5 cts per share not really 27.8 cts per share. 4. Amt paid in Stages. This is Risky. Why ? Read Point 5. 5. Subscription Agreement may be terminated read memo point (a) (b) (c). Most important of all :price Jonathan Lim & wife hold tonnes of shares to offload. If share price stays below 50 cts, they have everything to gain as they pocket thr different (50 cts - avg wt share price).( You think JL can unload his AMAL' s shares ?Go DYOR.You think he will ramp down the SP by selling his AMAL' s shares?Think again if you were him.) If shareholders rush to buy in, they are only benefiting both Jonathan Lim and CEO. Why ? Jonathan can cash out some (as he has tonnes of shares thaf can offload) at the higher prices pushed and helped by retailers. Double Win as by suppressing the share price, he can pocket the difference (50 cts - avg wt ) .( Simplistic ...You argument does does not hold.Pls refer above highlighted response) Assuming if retailers very generous and help pushed the share price above 50 cts before 24 Oct, CEO will gain as no need to pay the difference. What then after that ? After 24 Oct ? AM share price will plunge as BBs will offload .( Wow ! pure conjuncture...Plunge to 1 cts or correction?) So no matter how I look it , well played by the BBs. ( You are one of the BB runners is it? You seem very knowledge about the operation of the BBs) It is Win Win for BBs.( Sure always the " whales" will win hands down. Then why are you still playing stocks ) tocks Retailers will be the one " paying" or " footing the bills" to help both Lim and CO.( I am no retailers or traders or shortists) Push up , Lim will cash out some. From 8 cts to 40 cts is 500% returns to 50 cts is close to 700% returns. By cashing a bit and suppressing a bit, he wins both ways .... remember he gets to pocket thd difference ? ( 50 cts - avg wt price) If the whole thing is so good, I cannot recall CEO or other SSH buying or adding more shares from Open Market even when share price was below 25 cts. |
Atom99 ( Date: 05-Oct-2017 01:31) Posted:
|
Wow! Very insightful analysis.Thank You very much.Crap your hands.
If I agreed with you,we' d both wrong.
If I agreed with you,we' d both wrong.
andychew.eh ( Date: 05-Oct-2017 00:35) Posted:
|
And remember : AM only holds 50% interest in the BH project.
By current share price, already highly valued BH project at about $300 mil market cap. All without a single lithium output being produced and exported.
By current share price, already highly valued BH project at about $300 mil market cap. All without a single lithium output being produced and exported.
andychew.eh ( Date: 04-Oct-2017 23:40) Posted:
|
Such a kind soul....so worried about fellow retail investors ...loosing sleep over it and warning all...he follows AMAL so closely to save the foolish investors who are vested in AMAL....pls dont misunderstand him ..though he shorted AMAL ay 28.5, he has closed it...this is just a public service warning other fools who might think these are good news..
Btw, he asked lot of silly questions two weeks back to find out the depth of foolishness of AMAL holders in this forum so that he can advise accordingly...
andychew.eh ( Date: 04-Oct-2017 23:40) Posted:
|
Many AM shareholders secretly disappointed on the deal.
1. Net Assets of AM only AUD 14.4 mil.
Market Cap now $144.23 mil.
2. No operating income. AM losses AUD 4.08 mil for 2016 and losses AUD 4.8 mil for 2017.
3. The placement price is at 27.8 cts , less than the closing price of 30 cts. And of the AUD 19.5 mil , AUD 4.375 mil is part of the Offtake agreement meaning actual subscription amt is lower than AUD 19.5 mil , about AUD 15 mil . Means placement price about 21.5 cts per share not really 27.8 cts per share.
4. Amt paid in Stages. This is Risky. Why ? Read Point 5.
5. Subscription Agreement may be terminated read memo point (a) (b) (c).
Most important of all :
Jonathan Lim & wife hold tonnes of shares to offload. If share price stays below 50 cts, they have everything to gain as they pocket thr different (50 cts - avg wt share price).
If shareholders rush to buy in, they are only benefiting both Jonathan Lim and CEO. Why ?
Jonathan can cash out some (as he has tonnes of shares thaf can offload) at the higher prices pushed and helped by retailers. Double Win as by suppressing the share price, he can pocket the difference (50 cts - avg wt ) .
Assuming if retailers very generous and help pushed the share price above 50 cts before 24 Oct, CEO will gain as no need to pay the difference. What then after that ? After 24 Oct ?
AM share price will plunge as BBs will offload .
So no matter how I look it , well played by the BBs.
It is Win Win for BBs.
Retailers will be the one "paying" or " footing the bills" to help both Lim and CEO.
Push up , Lim will cash out some. From 8 cts to 40 cts is 500% returns to 50 cts is close to 700% returns. By cashing a bit and suppressing a bit, he wins both ways .... remember he gets to pocket thd difference ? ( 50 cts - avg wt price)
If the whole thing is so good, I cannot recall CEO or other SSH buying or adding more shares from Open Market even when share price was below 25 cts.
1. Net Assets of AM only AUD 14.4 mil.
Market Cap now $144.23 mil.
2. No operating income. AM losses AUD 4.08 mil for 2016 and losses AUD 4.8 mil for 2017.
3. The placement price is at 27.8 cts , less than the closing price of 30 cts. And of the AUD 19.5 mil , AUD 4.375 mil is part of the Offtake agreement meaning actual subscription amt is lower than AUD 19.5 mil , about AUD 15 mil . Means placement price about 21.5 cts per share not really 27.8 cts per share.
4. Amt paid in Stages. This is Risky. Why ? Read Point 5.
5. Subscription Agreement may be terminated read memo point (a) (b) (c).
Most important of all :
Jonathan Lim & wife hold tonnes of shares to offload. If share price stays below 50 cts, they have everything to gain as they pocket thr different (50 cts - avg wt share price).
If shareholders rush to buy in, they are only benefiting both Jonathan Lim and CEO. Why ?
Jonathan can cash out some (as he has tonnes of shares thaf can offload) at the higher prices pushed and helped by retailers. Double Win as by suppressing the share price, he can pocket the difference (50 cts - avg wt ) .
Assuming if retailers very generous and help pushed the share price above 50 cts before 24 Oct, CEO will gain as no need to pay the difference. What then after that ? After 24 Oct ?
AM share price will plunge as BBs will offload .
So no matter how I look it , well played by the BBs.
It is Win Win for BBs.
Retailers will be the one "paying" or " footing the bills" to help both Lim and CEO.
Push up , Lim will cash out some. From 8 cts to 40 cts is 500% returns to 50 cts is close to 700% returns. By cashing a bit and suppressing a bit, he wins both ways .... remember he gets to pocket thd difference ? ( 50 cts - avg wt price)
If the whole thing is so good, I cannot recall CEO or other SSH buying or adding more shares from Open Market even when share price was below 25 cts.
Apart from the S$20.8million investment. The most significant outcome is that they are all closely interlinked right now(Alliance, Tawana and Burwill). So the offtake agreement will definitely hold regardless, which will dispel any doubts investors might have in the offtake agreement.
Expected and indeed encouraging announcement from Burwill. They wouldn' t have decided to sink $20m into AMA unless they really believe they' re going to make a LOT of money from the investment over the long term.
October is going to be very interesting.
October is going to be very interesting.
Electric Vehicles Report: Part 1 &mdash Electric Vehicles Are Going Mainstream
https://cleantechnica.com/2017/10/02/electric-vehicles-report-part-1-electric-vehicles-going-mainstream/
https://cleantechnica.com/2017/10/02/electric-vehicles-report-part-1-electric-vehicles-going-mainstream/