Evraz Share Discussion Threads

[nerdlinger] 02/8/2022 11:41

is an interim dividend on Thursday out of the question?

[zangdook] 02/8/2022 09:25

'Directly acquire any ownership interest or control in any entity “connected with Russia”'

Does that mean I can be banged up for seven years if I top up my POLY holding?

[trcml] 01/8/2022 17:18

source CMS Law Now: "…twelfth amendment to the Russia (Sanctions) (EU Exit) Regulations 2019 … It is now a criminal offence, imprisonable by a maximum term of seven years, for a UK citizen or UK registered business knowingly to provide funds or economic resources directly or indirectly to any entity or individual “connected with” Russia, or to any entities controlled directly or indirectly by any such entities or individuals.

Criminal liability will be incurred by people and businesses located in the UK, or UK persons or registered entities who knowingly:

Directly acquire any ownership interest in land in Russia;

Indirectly acquire land or an ownership interest in land in Russia for the purpose of making funds or economic resources available to individuals or entities connected with Russia;

Directly acquire any ownership interest or control in any entity “connected with Russia”;

Directly or indirectly acquire any interest in or control over any entity in the world where the acquisition is for the purpose of making funds or economic resources available to individuals or entities connected with Russia;

Directly or indirectly establish a branch or subsidiary located in Russia;

Directly or indirectly establish a joint venture with a person connected with Russia; or

Provide investment services directly related to any of the above activities.

The ban extends to providing investment services, including but not limited to, the provision of advice or management in relation to any of the prohibited investments.

Civil penalties, of up to the greater of £1,000,000 or 50% of the estimated value of the assets concerned, will be available where prosecutors cannot establish knowledge or suspicion by an accused as to any alleged conduct. The new offence captures the acquisition of “any ownership interest” and we anticipate that the application will be broad.

[coscos] 25/7/2022 21:19

Interesting article regarding Abramovich.https://www.politico.com/newsletters/politico-influence/2022/07/07/kobre-kim-signs-russian-oligarch-00044583

[fireseeker] 25/7/2022 18:56

hxxps://www.evraz.com/en/news-and-media/press-releases-and-news/termination-of-the-registry-and-associated-services/

17 July 2022
EVRAZ plc (the “EVRAZ” or the “Company”;) informs that Computershare Investor Services PLC (“Computershare”) notified the Company of termination of registry and associated services on 19 August 2022 (“Termination Date”). Until the Termination Date, the Company and Computershare will work together on the transfer and return of services. After the Termination Date, the register will be maintained by EVRAZ.

It is anticipated that after the Termination Date CREST members will not be able to transfer the Company’s shares electronically due to the fact that EVRAZ, as holder of the register, will not have access to the CREST clearing system and all transactions will need to go through the Company with a stock transfer form and can be subject to a stamp duty. To secure title to the Company’s shares shareholders may wish to convert their electronic shares into physical paper shares. To receive share certificates shareholders are advised to consult their stockbroker and ensure that proper instructions are given to Computershare prior to the Termination Date.

Shareholders who have general queries about the termination of the registry and associated services by Computershare or the conversion of electronic shares into certificates can either call the Registrar’s helpline on [phone]; or write to the Registrar, Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol BS13 8AE.

[mustau] 25/7/2022 17:09

This is what I’ve received from Jarvis
The stock will remain under our nominee held on your behalf. Clients wishing to withdraw the stock into their own name must request a certificate not later than 1st August 2022. Please note a withdrawal fee of GBP15+vat will apply for withdrawal requests.

[gfrae] 25/7/2022 16:31

So ? Are you saying that they can only speak to Computershare ?

[basem1] 25/7/2022 13:28

Because computershare are no longer going to be registrars a week after the deadline

[gfrae] 25/7/2022 11:26

I have recieved the same notification from II, why does anyone think there is a time limit within which we have to make a decision ? Surely we should be free to decide when and or if we wish to have our certificates in paper ?
I am a little bit concerned the answer might be something like "we will no be allowed to deal with Evraz " after this time.
I may try and contact them.

[gasmanmick] 25/7/2022 10:51

Hargreaves Lansdown
I just spoke to them and they are currently have discussions re EVR situation.
I was told I could not be issued with paper cert or transfer my ISA held shares due to sanctions .
HL will issue a statement when a decision has been made.
I advised time is of the essence and would advise HL shareholders to call to also voice displeasure at how slowly this is been dealt with.

[nerdlinger] 24/7/2022 18:29

old news. Ironic. Might be deleted...

[zangdook] 24/7/2022 04:53

If they decide to pay a dividend, anyone with certificates should receive a cheque in the post, unless the company arrange to make direct payments. We don't know if or when they'll decide to pay one though. If you stay with a nominee they'll handle it as usual.

[geordy2] 22/7/2022 20:14

What are the benefits of getting certificates ?

[peter oconnor] 22/7/2022 20:02

Just a thought!
Would any dividends be alloted to the shares we own and compound or will it be used to pay down debt ?
Or am I been nieve ?

[adyzaky] 22/7/2022 13:32

...we will continue to reflect your Evraz shares on your portfolio, maintain a record of your holding on our books, and you will still be able to trade your Evraz shares through us if the suspension is lifted and trading of Evraz shares

That tells me, electronic trail will still exists, Evraz will take over the register at this point and they will know what your holdings are, there's an electronic trail, what sort of litigation will they face if peoples electronic shares disappeared?

[adyzaky] 22/7/2022 13:29

"Evraz implemented sanctions compliance system in 2014 which screens every customer and identifies red flags," it said. "To eliminate sanctions, economic and reputational risks the company verifies the end-users of products and secures their civil use by special clauses in contracts. The company is not aware of its products being used for military purposes.

"Suggestions about potential use of Evraz’s steel, vanadium and other products for military purposes indicate not only the misunderstanding of steel industry’s base principles, but the lack of knowledge about Evraz’s product range as well."

[basem1] 22/7/2022 13:28

I think you need registrars for that to happen and Evraz will not have one ?

[casket1] 22/7/2022 13:26

DP - That would be another stock exchange they have NO dealings with as there are about 8 currencies they currently handle. I know for a fact the cannot trade on the Russian Exchange (MOEX) which I suspect would be the most likely exchange to re-list ?

[adyzaky] 22/7/2022 13:24

common sense would say that if the worst was to happen and Evraz was delisted, you could still at that point have them converted to certs, an electronic trail isn't going anywhere.

[dancing piranha] 22/7/2022 12:59

ii fail to inform you, if you kept your shares with them, what your situation would be if the Company relisted on another Stock Exchange?

[basem1] 22/7/2022 12:47

I guess having the certificate provides the best of both worlds and is the foolproof option

[basem1] 22/7/2022 12:39

It is a tricky one Can they relist without a registrar ? And Could we get a certificate further down the road - I do not think we could Need professional help here.

[lomcovaks] 22/7/2022 12:31

Corporate action information sent to ii shareholders. Seems reasonable to me -

EVRAZ PLC ORD USD0.05
Event Type: Confirmation
Description: Termination of Registry

Termination Date: 19th August 2022

On 18th July 2022 Evraz plc, which is currently suspended from trading on the London Stock Exchange, announced to the Stock Exchange that Computershare Investor Services will cease to act as the company’s registrar from 19th August 2022. Within the announcement they also stated that shareholders may wish to convert their electronic shares into physical paper shares, and that shareholders should contact their broker if they wished to do this. Please be advised that you are under no obligation to convert your shares in this manner. If you don’t decide to convert, we will continue to reflect your Evraz shares on your portfolio, maintain a record of your holding on our books, and you will still be able to trade your Evraz shares through us if the suspension is lifted and trading of Evraz shares recommences on the London Stock Exchange.

If, however, you do wish to convert your shares into physical paper form, registered directly in your own name, you need to contact us by phone at 0345 607 6001 by 12th August 2022 at the latest, and request the withdrawal of these shares into your own name. Any requests to withdraw the shares will be charged a GBP35.00 fee + GBP7.00 VAT. All requests will be handled on a reasonable endeavours basis.

Please be advised, if you hold your shares in a SIPP or Junior ISA, the option to withdraw your shares is not available on these products.

The official announcement made to the Stock Exchange can be viewed here;

[adyzaky] 20/7/2022 09:04

Double post.