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Share Name Share Symbol Market Type Share ISIN Share Description
Ferrexpo Plc LSE:FXPO London Ordinary Share GB00B1XH2C03 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 480.60 483.20 484.00 - 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Metals 1,243.6 547.0 79.1 6.2 2,951

Ferrexpo Share Discussion Threads

Showing 6726 to 6749 of 9725 messages
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DateSubjectAuthorDiscuss
26/4/2019
13:28
In at 197p, just a small punt. Does seem an over-reaction to a non revenue matter ( ie charitable donation).
stewart64
26/4/2019
13:27
thanks tomleafs - I remember the fall to 15p. Bought at 20p and bottled it, would you believe. Sold soon after. Got back in and it still 2 bagged. Wouldn't buy now. If I had a position on this it would be short. There was an amazing Russian video I saw about how Medvedev got so wealthy. It was all about using charities to funnel tax payers money into his own assets. Huge house in Tuscany, massive complex in his home town. Billions. I think this was the one: https://www.youtube.com/watch?v=qrwlk7_GF9g
dasv
26/4/2019
13:16
27% drop so far today is a huge one day drop by any standards. Is this a case of over reaction or based on something not yet in the public domain to drop it even further. Private shareholders always the last to know. BB
bellbottom
26/4/2019
13:10
Yes dasv that looks like the case. Have a look at the FXPO RNS on 21 December 2015 entitled 'Update on Bank F&C'. This was a few years ago when the company 'lost' $140m of shareholders money to an insolvent bank controlled by Kostyantin Zhevago. The shares fell to 15p in 2016 on this and other bad news i.e. low pellet price and high leverage. Looks to me like this oligarch is using FXPO as a personal piggy bank, shareholders are second in line... Auditors have run off before it blows up in their face.
tomleafs
26/4/2019
13:07
bought just below 200p thought it was the bottom but it does not look like that....................
1corrado
26/4/2019
12:53
hmmm, bit risky atm, but no different to any other stock
king 786
26/4/2019
12:51
Well. In Ireland charities are being used to buy properties for vulture funds. This way they avoid paing taxes. All legally.
marmar80
26/4/2019
12:49
Be a brave person to buy when just hit 198p - is that the 'new' bottom? Wish I knew. Next news will either lift share price dramatically or drop further. What will it be? Guessing game. BB
bellbottom
26/4/2019
12:48
Apologies if covered already but typically in Russia at least, politicians have used transfers to conduit charities as a way of leaching money from the state. I wonder if that's what is happening here?
dasv
26/4/2019
12:45
BELL still dropping, time to buy ? thought 2.05 was entry point
king 786
26/4/2019
12:22
Yes, nothing stopping this plunging further. Look at what happened after collapse of bank in September 2015. There followed a continuing decline in share price by about 50%, down to 17p or so. Took four months for the share price to start climbing again, which it did, from January 2016, hitting 312p in February 2018 - a two year steady climb. Now 202p and still dropping. BB
bellbottom
26/4/2019
12:19
When an auditor resigns:- "An auditor must consider whether there are matters connected with ceasing to hold office that the auditor considers need to be brought to the attention of members or creditors of the company. Where there are such matters, these must be included in the s519 statement by virtue of the Companies Act 2006 s519(3)." "On resignation, the auditor must send a letter of resignation to the client (Companies Act 2006 s516). Additionally an auditor may need to send a s519 statement of circumstances or no circumstances to the company, Companies House and the appropriate audit authority." In the normal course of events there are no reasons and this is stated in the letter. Bit concerned this does not appear in the company's RNS and it states "The Company will make further announcements in due course."
podgyted
26/4/2019
12:10
It was 150 in September. Without clarification and new auditor the share price can even go to this level.
marmar80
26/4/2019
12:06
Hi Foxy22, Not sold my holding, though with hindsight I wish I'd sold at 300p for a nice tasty profit. Have we hit the bottom now at 206/207? I suppose Deloitte have client confidentiality to contend with, unless specific laws have been broken. That's obviously not been proven yet so it's a waiting game for the next bit of news. The question is, will it be good or will it be bad news? My gut feel is that more bad news will follow, so therefore more drops to follow. I should really sell with a view to buying back at a lower price, but held back by doubts and uncertainty. I did previously say that this traunch of shares was for the long term and my belief in the credentials of the company haven't changed. Patience and riding out the peaks and troughs is not an easy principle. BB
bellbottom
26/4/2019
12:04
When you consider the amount involved some 16m dollars which is literally peanuts compare to revenue generated by fxpo Serious questions are raised to whether the accounts and previous results are the truth in any shape or form hence massive drop in share price The big boys have lost trust to the company and they don't care about how much they are making. Just don't want to be associated with a dodgy company Until the board acts quickly resolve the situation I'm staying on the fence with interest. It will recover rapidly once the issue is sorted out and confidence has returned in which it could be a while
r88ave
26/4/2019
11:59
My worry is that the longer the company leaves the questions unanswered the shareprice will collapse lower and lower...
foxy22
26/4/2019
11:50
Might not be as serious as it appears just now. Would an auditor drop a client on a small irregularity, you bet. Contrary to what the public think, accountants uphold the highest of standards because of their low standing and high level of penalties and regulation. It's only in highly regarded professions especially in the public sector where you can actually get away with stuff. It's a criminal matter for an accountant just to hear of a problem and then not report it to the tax authorities.
stewart64
26/4/2019
11:49
amazing that no sign of a meaningful intra day bounce yet . I was looking to enter for a day trade but wonder if market is saying that further bad news is possible . I assumne the company is solvent and not too highly geared ?
arja
26/4/2019
11:48
Bellbottom have u sold....
foxy22
26/4/2019
11:46
I think konstantyin xhevago is the boss and runs the company as he wants ie does what he wantsHe probably usedblooming land as a tax avoidance channelI think we may have to be carefulDeloittes does not want to be caughtIn thisparticularly with new anti corruption ukrainian president
foxy22
26/4/2019
11:45
Surely the company is obliged to inform investors why Deloitte's resigned with immediate effect?
tsmith2
26/4/2019
11:42
I assume they have to find another auditor now.
marmar80
26/4/2019
11:32
Hi Foxy22, I am willing myself to believe that the guilty parties are within BL or that it's all just shoddy accounting and human error. But Deloitte wouldn't drop a major client over errors or even if they knew that BL were guilty or a director or directors at BL were guilty. After all, their client was Ferrexpo and they would want to help them clear up the mess on behalf of their fee paying client. They can only have resigned due to a firm belief that there was a cover up by their client or that they were being coerced by same client to help in that cover up. Basically, they were put in an impossible situation, whatever that was, and had no choice. So what happens when an auditor resigns? Do they immediately appoint another? Surely they are legally required to carry out and complete the process in good time. BB
bellbottom
26/4/2019
11:24
I wonder if the resignation of Simon Lockett Senior Director at Ferrexpo, a week before the discrepancies were announced by Deloitte was significant? Lockett only joined the company in June 2017, was buying shares (50,000 of them) in August 2018, resigned at the end of January 2019, one week before the Deloitte announcement. Connected possibly? He left very abruptly, with immediate effect. Maybe I'm just clutching at straws here? BB
bellbottom
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