Special dividend awaits Amur shareholders as Kun-Manie sale concludes
London-listed Amur Metals said on Monday that it would pay a special dividend of 1.8p a share to shareholders, following the completion of the disposal of its Kun-Manie project, in Russia, for $35-million.
Bering Metals, a firm controlled by entrepreneur Vladislav Sviblov, had transferred the total consideration to the company and receipt of the funds was expected imminently, Amur reported.
The company would pay a special dividend to shareholders within 90 days of receipt of the money.
"We believe that the total consideration of $35-million is a positive outcome, given the particular set of circumstances that surrounded the disposal.
"The delay in the completion of the disposal was due to potential sanctions with regards to the 'special military operation' and the potential risk associated for a third party involved in the fund transfer. This is something that the company has successfully resolved, ensuring the disposal was compliant with the current geopolitical situation,” said CEO Robin Young.
Having sold Kun-Manie – a large undeveloped nickel deposit – Amur is a cash shell in terms of Aim rules. Amur will be required to make an acquisition within six months or to be re-admitted to trading on Aim as an investing company.
The company’s directors stated that it intended to identify opportunities that had the potential to deliver value creation and returns to shareholders over the medium to long term in the form of capital and or dividends.
Comments
Projects
Latest Multimedia
Latest News
Showroom
The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...
VISIT SHOWROOM
Flatproofing tire technology engineered to perform in extreme mining environments.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
