Ferrexpo Share Discussion Threads

[kenmitch] 29/4/2020 19:25

Yes. Ferrexpo goes ex a 3.3cents dividend tomorrow. So those holding today will get it, even if they now sell out. Those buying from tomorrow onwards will not get that dividend.

[r9505571] 29/4/2020 19:15

So anyone on the books tonight at midnight qualify for the dividend?

[bellbottom] 29/4/2020 17:53

Hi Earwacks, If it was just the court appeal then I would agree. But there is also the recent court case where Mr. Zhevago, ex CEO and major shareholder has to pay out $55 million to the NBU, with no further options to appeal. If he doesn't pay up, they confiscate assets up to that value. Then there is the small case of the Ukrainian international warrant out for his arrest, which, to my knowledge, has not been revoked. Then the smaller matter of the Norwegian courts ruling against him and his having to fork out another $12 million to Boa Offshore, for a defunct shipping deal. My biggest concern is the Zelensky government taking control of his assets to the value of $55 million, should he not pay up. He used to have a net worth of $3 billion. Last count was $1 billion. I would suggest most of that is tied up in business and property. Cash is king. I wouldn't want to be selling assets just now as their value would be much reduced due to economic downturn caused by Covid19. That and previous Blooming Land charity debacle last year has effectively held down the share price over the last year or so. Given that their four pellet lines have all been refurbished and should be at maximum production efficiency, the share price should be at least double where it is. BB

[earwacks] 29/4/2020 16:17

This is one of the top rated stocks on Stockopedia. The company don't seem too fussed about the court appeal. Dr Zhevago has only been prevented from transferring the shares at the moment and they don't seem to want to do that anyway. I don't see if they are listed on LSE how it makes any difference either, unless they physically want to take half the company. All sounds totally bonkers. 'Careful they might steal our secrets.' But comrade we don't have any secrets. " Yes thats precisely what we don't want them to know.'

[bellbottom] 29/4/2020 13:10

Glencore also up 4.5% BB

[grechen] 29/4/2020 13:04

Notice RIO has suddenly just taken off too.

[bellbottom] 29/4/2020 12:49

AGM still a month off. 28th May. An abridged AGM will be held, no shareholders able to attend due to Covid restrictions. Stick my neck out in saying I expect share price to climb slightly higher tomorrow and then to drop back again and hover around the 120-140 mark until some news gives it a nudge in either direction, being north or south. My general feeling is that it will start climbing again soon, but that is not based on any data or facts available, just an expectation that Mr.Zhevago will sort himself out with the Ukrainian authorities and will once more take the helm, so to speak. Then we will see a staedy climb up to 300 or even 400p area. And then I woke up! BB

[thags] 29/4/2020 12:48

It is bizarre how certain companies who make losses or very little profit with huge debts manage to go up a fair bit even during these unprecedented times and fxpo a low debt high cash generating dividend paying huge asset business is stagnant

[r9505571] 29/4/2020 12:34

The only news I want to see is a bid for the entire company at 300p a share! Are there any players out there with enough cash to gobble this cash making king??

[bellbottom] 29/4/2020 12:05

Sorry - Jan20 ex-divi date was of course the 9th January with payment date being the 17th January. Basically the share price has had no real sense of direction since October 2019, where it dropped off to 123p from a high of about 281p in July 2019. Yes, news is what we need. Good news, great news, anything but bad news thank you. BB

[bellbottom] 29/4/2020 11:24

I suspect it's the surge up to dividend eligibility day. We saw the same thing in January where it climbed up to 156p and then dropped off again (dropped about 20p) after divi eligibility day (17th Jan). But then again, it could well be some news? All I can imagine is that the ex CEO, Mr.Zhevago has miraculously paid off fines and has had all charges dropped? Can't imagine any other Ferrexpo business news. Welcome rise all the same. BB

[grechen] 29/4/2020 09:39

Some news on the way??

[grechen] 24/4/2020 15:18

Think I might start selling every Thursday afternoon and buying back Monday mornings.

[napoleon 14th] 24/4/2020 14:23

Why does the Ukraine govt press the case against Z? 'Cos he's guilty &, in typical oligarch "nouveau riche" behaviour, his already vast fortune wasn't enough for him... Why would Z have trouble raising the money? I suspect he's left a lot of ill blood due to his dealings and went abroad partly for tax reasons & partly 'cos he might not be so very welcome back home. How come he can't set up a holding/financial company to regroup his assets and borrow against them to pay off the courts? How many people, when they hear his name, say "I don't want to know!"? I sold a bit early when a cold wind blew in Feb. but the same wind might return twice as strong. GLA.

[bellbottom] 23/4/2020 16:14

Hi Oli, I could only find a news item on this from yesterday. Can't seem to get access to the court judgements due to "heavy load on the Unified State Register of Judgements search engine." The main issue as I see it is that Mr. Z probably has cash flow problems. Yes, he has many assets but is probably cash 'poor' and would have to sell some of his assets in order to 'cough up' the required readies. He'll probably battle it out until the bitter end, which he may very well be approaching, before selling some assets. Not necessarily the best time to get the best price, but looks like he's run out of options. Agree that the Z shaped cloud is hanging over the share price BB

[oli12] 23/4/2020 15:55

This ‘news’ has been out a few days. It’s pretty obvious that Mr Z will need to cough up some $$$ to settle with the Ukrainian authorities. IMO the sooner he does this the better as the Ferrexpo share price is no where near what it should be based on it’s earnings, this is primarily down to the Z shaped cloud hanging over the share price

[bellbottom] 23/4/2020 15:41

Dodgy translation but you get the gist of it. Https://www.epravda.com.ua/rus/news/2020/04/22/659673/ BB

[bellbottom] 23/4/2020 15:36

Not such good news after the recent good news of dividend payments. And still no news on the supposed court appeal regarding the 50.3% freeze of shares. Https://concorde.ua/rs/daily/item_76117/ Hopefully the price will hold up tomorrow - Friday often sees a dip, but strange times may see the opposite. BB

[grechen] 22/4/2020 09:44

Don't think I've ever seen such a quiet trading day for FXPO.Like some minor AIM company.Who knows where we'd be with some volume.

[r9505571] 21/4/2020 16:01

Bit of a rollercoaster today for the share price but not a bad day all things considered!

[bozzy_s] 21/4/2020 11:53

Dividend reinstated at 50% lower than last year. I'd written off 2020, so I'm happy enough.

[bellbottom] 21/4/2020 11:08

final dividend and final special dividend - now the share price should start to climb again. No news yet though of court hearing. BB