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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Polymetal International Plc | LSE:POLY | London | Ordinary Share | JE00B6T5S470 | ORD NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 215.00 | 0.00 | 01:00:00 |
| 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 | 215.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 02/4/2024 | 11:29 | EQS | Polymetal International plc: New management appointments in Kazakhstan |
| 02/4/2024 | 02:25 | EQS | Polymetal International plc: New Board memb |
| 27/3/2024 | 06:23 | EQS | Polymetal International plc: Integrated Annual Report 2023 |
| 15/3/2024 | 05:45 | EQS | Polymetal International plc: Preliminary results for the year ended 31.. |
| 12/3/2024 | 01:32 | EQS | Polymetal International plc: Completion of divestment of Russian business |
| 19/2/2024 | 06:08 | EQS | Polymetal International plc: Proposed divestment of Polymetal Group’s.. |
| 31/10/2023 | 04:31 | UKREG | Polymetal: Q3 2023 production results |
| 25/9/2023 | 05:55 | UKREG | Polymetal: Half-year report for the six month ended 30 June 2023 |
| 29/8/2023 | 09:00 | UKREG | Polymetal: London De-listing |
| 29/8/2023 | 08:00 | UKREG | London Stock Exchange Notice Cancellation - Polymetal International plc |
Polymetal (POLY) Share Charts1 Year Polymetal Chart |
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1 Month Polymetal Chart |
Intraday Polymetal Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 17/4/2024 | 21:21 | Polymetal International | 21,706 |
| 05/4/2024 | 12:50 | Polymetal International PLC | 187 |
| 23/1/2023 | 17:13 | Polymetal International PLC | 2 |
| 23/1/2023 | 16:42 | Polymetak International PLC | - |
| 27/4/2022 | 16:22 | PLASTIC RECYCLING investments | 1 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 19/2/2024 19:01 by sign1 Intragroup debt of $1.151b arose from the debt pushdown from the topco (holding company level) to subsidiary level (POLY R). As of today POLY INTL owes POLY R the said amount, while POLY R owes the external creditors $2.2b. For the avoidance of doubt: it’s not on top of $2.2b, it’s part of $2.2b. The reason why IGD isn’t reported is because IFRS uses consolidation basis for reporting. It only records the aggregate number of external liabilities, which is ~$2.4b (~2.2b in RU and ~0.2b in KZ) in our case. If we were to publish standalone KZ business accounts – only then IGD would have been visible. On consolidated basis we reported $170m of debt to external parties, because that’s how much POLY K owed and still owes to the creditors. POLY K and POLY R were never split in the accounting sense, because there’s no basis for it. Assets are still under one roof: POLY INT. Following the designation in May 23 we continued to report consolidated numbers, because that’s what IFRS requires. We added some of the reporting lines for KZ and RU for the benefit of investors to see what the country breakdown is along different lines of the i/s and b/s but the basis for reporting remained consolidated.While I understand that stated $3.7b EV of POLY R is confusing, if seen from the pov of the seller (not the buyer) the IGD of POLY K to POLY R is real, and must be extinguished. That’s why the buyer will upstream $1.479b from POLY R to POLY K, with POLY K returning $1.151b to settle IGD to POLY R and keeping the balance as cash proceeds from the sale. The difference in numbers is tax. |
Posted at 02/2/2024 18:10 by urai58 Thank you @k1ssxofxdeath for your alternative calculation. The problem is that the world will be different after February 2022: sanctions, inflation, higher energy prices, stronger tenge, problems with supply chains, problems with distribution. And this means massively higher AISC. It should also be noted that POLY usually requires a POX for processing. This is in Russia. Higher cost.The basis for an assessment is not the past. But the current EBITDA margin and net earnings are tough. The price of gold has simply not risen enough - compared to inflation. We are still getting off very well with Polymetal International. Shareholders from Petropavlovsk lost all. EVRAZ blocked for a long time. Polyus, Nornickel, Gazprom etc. ADR/GDR programs terminated. In some cases everything was lost. |
Posted at 02/2/2024 15:39 by k1ssxofxdeath "Realistically one can assume the following parameters (for residual POLY in Kazakhstan):- 475koz AuEq p.a. - Gold price $2,000/oz - Revenue 950m USD - EBITDA margin 40% - EBITDA 380m USD - Net earnings 190m USD - Dividend 95m USD, with 475m shares: 0.20 USD. - With a dividend yield of 5%, that gives a share price of $4 - and that's exactly where we are plus/minus today." Further to the above valuation, here is a basic attempt at a different valuation. 475koz pa is about 40% of Poly pre Feb 22 operations. Poly was trading around (at least) $15 at that point. If you add $2.5bn net debt then EV was $20 per share. If Poly get $3bn (per your post)_for Russian assets then that is $6 a share for $12 of historic EV value - half price basically. But that should still leave 40% of the old EV on the table which is $8 a share. If its net cash that EV should all be reflected in the equity valuation so the political risk is arguably depressing the price from $8 to $4 based on Kazakh assets alone. In other words the market is pricing in complete expropriation of Russian assets for nothing and Poly saddled with $2.5bn of debt ($5 a share). If the sale unwinds that discount then the price could double. Thoughts? KoD |
Posted at 01/2/2024 12:27 by urai58 The fog about possible future developments is slowly clearing. But as always, that takes far too long. In the meantime, Polymetal International's business and options are continually (massively) restricted. The reason is clear: Western sanctions - Russian counter-sanctions - and POLY in between.What is important now is the sale of the Russian assets. But you shouldn't expect too much. That leaves 1 potential (and likely) buyer. We know: It is a Russian buyer - and the buyer is not (currently) subject to any Western sanctions. Unfortunately, Polyus is almost certainly no longer there. What remains? @goldbugsy wrote it: ICT, the founder of Polymetal International and brother of the CEO: Alexander Nesis. At first I thought the Oman fund might have paid a premium. I don't assume that anymore. So the transaction is likely to be worth around USD 550 million. And with this 550 million USD, the Russian assets (of course including the 2 billion USD debt) could be taken over by ICT (Alexander Nesis). At the end, Polymetal International should be debt-free (currently USD 170 million). Plus an estimated $200 million in cash for 2024 investments (especially the $60 million for the POX). Plus cash to ensure ongoing operations. And perhaps there is still $100 million available for a possible dividend in 2024 (from the 2023 deal and sale): $0.20 per share. Now about possible future dividends (from financial year 2024, paid from 2025): The dividend policy will definitely be adjusted downwards. The reason is simple: Polymetall has to and wants to develop its business further. This includes possible acquisitions in Kazakhstan as well as in other Asian countries ending in (...)stan. The future profits should be used for this as a priority. Oman doesn't want dividends (now) - Oman definitely wants Polymetall to develop and expand its business in the medium term (3 to 4 years). Realistically one can assume the following parameters (for residual POLY in Kazakhstan): - 475koz AuEq p.a. - Gold price $2,000/oz - Revenue 950m USD - EBITDA margin 40% - EBITDA 380m USD - Net earnings 190m USD - Dividend 95m USD, with 475m shares: 0.20 USD. - With a dividend yield of 5%, that gives a share price of $4 - and that's exactly where we are plus/minus today. urai58 |
Posted at 29/1/2024 07:33 by k1ssxofxdeath Date: 29 January 2024Polymetal International plc Notice regarding a change of a major shareholder Oman’s Mars Development and Investment LLC acquires a significant stake in Polymetal from ICT Holding. Polymetal International plc (“Polymetal MDI LLC is an investment company registered in Oman and fully owned by the government of Sultanate of Oman, which pursues diversified investments across a range of international sectors including industrials, commodities, and finance in accordance with the strategic priorities of the Sultanate. The Buyer is a dedicated vehicle facilitating MDI LLC financial investment in the natural resources sector, including metals and mining. The Company has been informed that the Buyer intends to support the management and the Board of Directors of Polymetal and their strategy for the Company in the interests of all shareholders. “We welcome our new significant shareholders led by Mars Development and Investment LLC and we look forward to our engagement with our new Omani investors. We are pleased that MDI LLC has confirmed its full support of Polymetal’s strategy, which includes de-risking the Company’s business by disposing its Russian operation and further developing its asset base in Kazakhstan and the wider region”, said Vitaly Nesis, Group CEO of Polymetal International plc. As a result of the transaction, ICT Holding has now fully disposed of its stake in Polymetal. Accordingly, Konstantin Yanakov, representing ICT Holding, has resigned from the Board of Directors, with the Buyer expected to nominate their candidate to the Board in due course. The value of the transaction has not been disclosed. |
Posted at 21/1/2024 19:44 by loganair The head of Polymetal International, Vitaly Nesis said in an interview on Thursday:Q.: Will the company be expanding its own resource base in Kazakhstan? A.: We have an extensive geological exploration program, which focuses on copper and refractory gold ores, so we have some hope for growth of our own. Q.: Are you thinking of expanding your mineral resource base by purchasing pre-explored blocks or companies at the pre-mining stage? A.: We are looking at all options. We have been in Kazakhstan almost 15 years, so we know most of the promising well-known sites. Also, the country is currently experiencing a wave of inactive license withdrawals and termination of dormant contracts. As a rule, these are for anything but top sites, but we are also monitoring the process: maybe the state will put something interesting up for tender again. We also conducted a preliminary analysis of other countries, formed working groups on some with representatives of government bodies. At this point it's premature to talk about anything specific, but we're seriously looking. Kazakhstan, of course, is a promising country, large in area, with substantial potential for geological exploration. But it wouldn't be bad to have some second, third jurisdiction. One country is good, but two are better. Q.: What are your impressions of the Astana International Financial Centre’s (AIFC) Astana International Exchange (AIX)? A.: It’s a very professional, competent and constructive team. The move from London to Astana was a unique project. A lot of difficulties arose - legal, technological - but all of them were resolved successfully. The AIX, AIFC, and AFSA [Astana Financial Services Authority] teams were very pro-active and we are grateful to them for their support and prompt delivery of this complex project. But we can’t rest on our laurels yet - our interim goal is to increase liquidity. So far the volumes can’t compare with those we had in London. But Polymetal International is already one of the most traded securities on the AIX, with turnover of about 100,000 securities per day. Our interim goal is 1 million securities, and this will be about $5 million. It’s a matter of time before we reach this figure. It can be achieved, and it will mean that Polymetal International is not just formally a public company, but also a liquid investment tool. Q.: What can the company do for its part to increase liquidity? A.: We need to work with investors, but our team has always been very active in this regard. For now, the lion's share of time goes on the ongoing migration from London, and I think this will take at least until the New Year. Now the main thing is to help all shareholders, wherever their shares are located, to make a successful move to the central depository in Astana. Then there will be classic marketing: meetings with investors, explaining the company’s prospects on the new stock exchange with a new strategy, with new investment plans. As for longer-term prospects, it is of course necessary to bring back institutional investors. I think there is a chance of that by the end of next year, after sale of the Russia-based assets goes through. There’s a lot of work to do and some things will have to be re-done. On the other hand, this, unlike the actual move, is easy to understand, with a fairly standard toolset and sequence. Q.: As you mentioned selling Russian assets... It seems that there are not many potential interested parties. A.: I’ll not comment on specific interested parties. There are quite a lot of them. The problem is that the deal will be non-standard; it will involve scrutiny by American and Russian regulators. It won't be easy, but I remain optimistic because these are prime assets and we are totally transparent. The principles on which the transaction will be carried out are also clear: total emphasis on compliance, as well as maintaining the full viability of existing Russian businesses, so that operating plans, investment plans and social commitments are not disrupted. This is crucial to Polymetal International from a corporate governance perspective, as well as to ensure that the transaction itself goes as smoothly as possible, because abrupt twists and turns will inevitably generate unnecessary risks. The task is complex, but clear. The principles are demanding, but can be fulfilled. So let's get on with it. Q.: It the company prepared to sell assets piecemeal? A.: Of course not. In fact, of those preliminary expressions of interest that we have received over the last month or so, only two serious offers were for a partial acquisition. All the others, and there are more than ten of them, have been for the company as a whole. We're not even considering a piecemeal sale. Q.: My reasoning is that some potential interested parties are out of the running because they themselves are sanctioned, and others because not every company will be able to secure funding for such a big deal. Chinese investors will need additional approval to buy federal subsoil areas. Then we’re talking about more than six to nine months. A.: Foreign investors will want some kind of extension to the process, and perhaps we will not then meet the nine-month deadline. But if we have a signed deal, and it's only a matter of state approval, then I think other stakeholders will understand. But I am optimistic as regards financing. The gold mining industry is now “hot”, the external environment is very positive against the backdrop of high gold prices and a weak ruble. The assets are quality assets. I think a deal will definitely be found and done. Yes, there are risks attached to timing, but I don’t think they are that great because we have taken on certain obligations and must honor them. And we have time - not very much, but enough so that the deal does not turn out to be a fire sale, so that the shareholders of Polymetal International can get a reasonable, decent amount for Russian assets. Obviously it we take a sober look at the situation we can't hope for the same valuation as there was in 2021. There will be some kind of discount, but it needs to be measured in percentages, not multiples. Q.: Following the sale of assets, will it be possible to distribute funds between shareholders, for example in the form of special dividends? This could encourage shareholders to vote for the deal at the meeting. A.: There’s a good saying: don’t count your chickens before they are hatched. Better to ask this question once the sale has gone through. Right now I think it’s too soon. A simple majority of votes is needed to get the deal over the line. If we look at the situation pragmatically, the main factors for shareholders will be its structure and cost. Where the money goes is less important. Polymetal International management has always allocated capital in a balanced and proper manner. At the time of voting there will be more clarity on plans for the construction of the new POX hub, there will be specific ideas on the acquisition of new assets in Kazakhstan, and less likely, but still possibly, in other countries. The main thing is to finish separating the businesses in Kazakhstan and Russia. I think the logic of doing this is so obvious that the vast majority of shareholders will not have any objections. The main thing is for the terms to be reasonable. Q.: How are management functions now distributed between the Russian and Kazakh offices? A.: The Russian business is already being managed on a standalone basis. I still spend a lot of time in Russia, but this is mainly in connection to the upcoming transaction, communicating with potential buyers. In terms of production and investment decisions, the new management of Polymetal JSC – it’s not that new in fact, these are people who have been working in the company for about 20 years – is entirely independent. In general, the business split is already 80% complete. We’ve hired additional employees in Astana, switched to some service contracts with independent providers, in particular in information technology, and we continue to maintain some service relationships without payment, but in the near future we will stop them completely. Ultimately there will be no relations between the Russian and Kazakh parts of Polymetal, with the exception of the tolling agreement. Q.: What else would you like to convey to investors? A.: We have discussed both the process and goals very carefully, so I would like to convey the general optimism of the board of directors and management. It is clear that both the sale of the Russian assets and the split of the company into two parts are events that undermine shareholder value. But on the other hand, the Kazakh company, on a standalone basis and left to its devices, will have many opportunities for development and a management team that will be focused on Kazakhstan and other countries in Central Asia. The options will only increase. |
Posted at 24/11/2023 10:51 by loganair Polymetal International plc (“PolymetalThe Second Exchange Offer invites Shareholders whose rights are affected by the sanctions imposed on National Settlement Depository (“NSD”) and other Russian depositories, subject to fulfilling eligibility criteria, to tender their Eligible Shares for exchange in consideration for the issue of Exchange Shares on a one-for-one basis. Eligible Shareholders who successfully participate in the Exchange Offer will regain the enjoyment of their rights in the Company, including the ability to receive dividends. At this time, due to restrictions imposed by securities laws, sanctions and counter-sanctions applicable to the Shares, the Board is only able to extend this offer to Eligible Shareholders, defined as shareholders who are: a. not associated with an Unfriendly Jurisdiction as may be defined under the laws of Russia, and/or; b. not subject to Sanctions as confirmed by the results of the Sanctions Clearance as defined in the Circular. Polymetal will submit paperwork to cancel shares repurchased under the Second Exchange Offer. However, such a cancellation is contingent upon the relaxation of the restrictions on NSD and until such time that the restrictions are relaxed, these shares will be held in treasury by the Company and will not be available for re-issue. The Directors consider that the Exchange Offer is in the best interests of the Company and its Shareholders as a whole. Accordingly, the Directors unanimously recommend that Shareholders vote in favour of the resolutions. Background: On 3 June 2022, the EU imposed sanctions on NSD, which effectively blocked the operations between Euroclear and NSD. As a result of such sanctions, prior to the First Exchange Offer, Shareholders holding approximately 22% of the Company's issued share capital were unable to take part in any corporate actions of the Company and/or receive dividends (the “Affected Shares”). This prevented the Company from being able to carry out certain corporate actions with the involvement of a significant part of its shareholder base. On 22 September 2022, the Board announced the First Exchange Offer to exchange certain shares eligible under the terms of such offer for newly issued shares. A total of 41,614,678 Shares (or approximately 8% of the total number of voting rights in the Company) were repurchased by the Company under the First Exchange Offer which was completed on 11 October 2023. The Company now holds 41,614,678 Shares in treasury, which, according to AIFC Law, do not enjoy any voting or economic rights. Approximately 14% of the Company's Shares were not eligible to participate in the First Exchange Offer although were Affected, and therefore continue to be impacted by the restrictions imposed even though the shareholders themselves might not be subject to an asset freeze insofar as the Company is aware. As a result, the Company continues to be prevented from carrying out certain corporate actions with the involvement of a significant part of its shareholder base. On 7 August 2023, the Company announced the successful completion of the re-domiciliation of the Company from Jersey to the AIFC. As a result of the re-domiciliation, certain restrictions which previously prevented the First Exchange Offer from being addressed to Eligible Shareholders no longer apply. |
Posted at 10/8/2023 07:24 by 31337 c0d3r 10/08/2023 7:00amUK Regulatory (RNS & others) Polymetal International plc (POLY) Polymetal: Resumption of trading on AIX 10-Aug-2023 / 09:00 MSK =------------------- Release time IMMEDIATE LSE, MOEX, AIX: POLY ADR: AUCOY Date 10 August 2023 Polymetal International plc Resumption of trading on AIX Polymetal International plc (the "Company") confirms trading resumption of the Company's Ordinary shares on AIX, effective today, 10 August 2023. Further to the Re-domiciliation completion, trading in the shares of Polymetal International plc (ISIN JE00B6T5S470) has resumed on AIX today, 10 August 2023, as follows: -- Opening Auction - 11:00 -- Continuous Trading - 11:30 -- Closing Auction - 16:45 References to times in this announcement are GMT+6 (Astana time). |
Posted at 09/8/2023 14:36 by 31337 c0d3r 09/08/2023 7:00amUK Regulatory (RNS & others) Polymetal International plc (POLY) Polymetal: Q2 2023 production results 09-Aug-2023 / 09:00 MSK =------------------- Release time IMMEDIATE LSE, MOEX, AIX: POLY ADR: AUCOY Date 9 August 2023 Polymetal International plc Q2 2023 production results Polymetal International plc reports production results for the second quarter ended June 30, 2023. "Q2 saw a set of solid production results supporting our full-year production guidance of 1.7 Moz of GE. The company continued to experience logistical disruptions of concentrate shipments. Management is working on establishing new transportation routes to resolve this issue by Q4 2023", said Vitaly Nesis, Group CEO of Polymetal International plc. HIGHLIGHTS -- No fatal accidents occurred among the Group's workforce and contractors in H1 2023 (consistent with H12022). Lost time injury frequency rate (LTIFR) among the Group's employees stood at 0.11 (0.08 in H1 2022), asthere were seven lost-time accidents mostly related to falling or being hit by an object, with none of them withinKazakhstan operations. -- Q2 gold equivalent production ("GE") grew by 22% year-on-year (y-o-y) to 423 Koz driven by increaseswithin Russian operations (Nezhda and Albazino). -- GE output for H1 was up by 3% y-o-y to 764 Koz, including 213 Koz in Kazakhstan and 551 Koz in Russia,due to the same factors as above. Polymetal reiterates its full-year production guidance of 1.7 Moz of GE (1.2 Mozin Russia and 500 Koz in Kazakhstan). -- The Company recorded a sales-production gap in Q2, notably for Kyzyl, which was a result of thepersistent railway issues at the eastward direction. It is expected to be closed by the year end as the Company isgradually switching to alternative transportation routes. -- Revenue for the reporting quarter and six months increased by 34% and 25% y-o-y to USUSD 581 and USUSD 1,315million respectively on the back of sales volumes recovery in Russia and higher metal prices. -- Net Debt reached USUSD 2.59 billion (USUSD 0.2 billion in Kazakhstan and USUSD2.39 billion in Russia) on theback of sanctions-related sales disruptions in the Russian business. |
Posted at 29/6/2023 01:48 by garycook Interactive Investor sells my Son,s POLY, after instructing them to put the shares in Certificated form. Sent this secure message 4 weeks ago, and yesterday ii sells POLY.Polymetal Certificated Withdrawal. Reply Corporate actions, dividends and IPOs 31 May 2023 Dear Sir/Madam I wish to withdraw my 250 Polymetal International plc shares into certificated form prior to your withdrawal deadline. Regards Matthew Cook RE: Polymetal Certificated Withdrawal. Reply Corporate actions, dividends and IPOs Today 08:28 Dear Mr Khan, Why have ii sold my POLY holding. When I clearly authorised a Certicated withdrawal of my 250 POLY shares.If this is not corrected I will instruct the Financial Ombusman.Regards Matthew Cook |
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