"...what happens if they do not receive the 90%..can that number be waived to complete the sale?"
My understanding is that Centamin can withdraw that clause and hang on to what they get or they can return the shares and walk away. Presuming that they get acceptances for more than half the shares, they will control AMX and I would assume that they would accept the deal.
I don't have a large holding but I got a phone call today from Company representatives asking me what I intend to do. I told them that I had not made up my mind but that I was likely to hang on to the shares. I don't like accepting Centamin shares when they are involved in what seems to be a major legal action and they have lost the first part of it.
I would be happy to have a major shareholder like Centamin in Ampella that has the assets to enable our company to develop our own deposits.
Even if this offer had not turned up I reckon Ampella's share price would have risen during this period as most of the small explorers have done.
I am interested to hear what other shareholders plan to do.
GPASAS
AMX Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
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