Petropavlovsk Share Discussion Threads

[midasx] 30/11/2020 22:35

Also the 24,548,739 UT @ 27.45p

[srpactive] 30/11/2020 18:23

As I said above a big money buy at the close nearly 8m at 27.45p,
will increasing here again shortly.

dyor

active

[robertstronghand] 30/11/2020 12:37

Excellent.

[srpactive] 30/11/2020 08:42

Yes very good appointment, there was paper talk from time to
time about hgm and pog joining forces. This very interesting
and DA is a very capable gentleman. I was in hgm from 2014/2015
until the takeover. The big Russian money will be looking at
this situation now I feel, get the shorts closed and we could
be onto something.

dyor

active

[undervaluedassets] 30/11/2020 08:35

Yup..

.. maybe he will fix the problem with the collapsing gold price as well .. (now down $250 from highs)

[wilmot666] 30/11/2020 07:21

Quality CEO. Result.

[troy] 28/11/2020 16:45

I presume that Ermolenko is spending Petropavlovsk company money on his personal court folly ?

[midasx] 27/11/2020 17:46

The sooner Sergei Ermolenko is shown the door the better!

[troy] 27/11/2020 15:37

And Gazzeta.Ru published........

Arbitration ordered Pokrovsky mine to convene a meeting of shareholders

The agenda involves discussion of the new version of the company's charter and other issues.

November 25, 2020, NEDRADV. The Arbitration Court of the Amur Region denied the head of Pokrovsky Rudnik JSC, Sergei Ermolenko, to declare unlawful the demands of Petropavlovsk Plc to convene an extraordinary meeting of shareholders and amend the company's constituent documents. At the same time, the relevant requirements of the parent company to hold this meeting were satisfied.

According to Interfax, by a court order, Pokrovsky Rudnik is obliged to hold an extraordinary general meeting within 40 days from the date of entry into force of the arbitration decision. The agenda will address issues of approval of the company's charter in a new edition and early termination of the powers of members of the company's board of directors.

At the same time, at the beginning of the hearings, the representative of Sergei Ermolenko proposed to initiate a conciliatory procedure, since the controversial issues are included in the agenda of the meeting scheduled for January 12. Representatives of Pokrovsky Rudnik also had no objections to this decision. However, a representative for Petropavlovsk refused. His decision is motivated by the difficulties in drawing up an amicable agreement, since the document must take into account the conditions of all interested parties.

At present, the shareholders of Pokrovsky Rudnik intend to appeal the decision made by the arbitration tribunal in the court of appeal.

As a reminder, since July of this year, Petropavlovsk has been in a state of protracted corporate conflict, when, following the results of the annual meeting, several directors (including the founder of the company Pavel Maslovsky) were not elected to the new board of directors .

[troy] 27/11/2020 15:35

Yes bubloo....

Petropavlovsk Plc won a lawsuit against Pokrovsky Rudnik

Now the losing party will have to approve the new version of the charter and early terminate the powers of the members of the company's board of directors.

Judge Galina Lisovskaya refused to satisfy the claim of Sergei Ermolenko against Pokrovsky Rudnik JSC and Petropavlovsk Plc. Information on case А04-6706 / 2020 appeared on the official website of the electronic file of arbitration cases.

At the same time, the Arbitration Court of the Amur Region satisfied the claims of Petropavlovsk Plc to Pokrovsky Rudnik. Lisovskaya obliged the company to hold an extraordinary meeting of shareholders within 40 calendar days in order to approve the new version of the charter and early terminate the powers of the members of the company's board of directors. At the same time, Petropavlovsk, which acts as a shareholder of Pokrovsky Rudnik, should organize this extraordinary meeting.

This year, a corporate conflict began at Petropavlovsk Plc . It arose after a share in the company was bought out by a competitor - UGK. After the start of trading of the company's shares on the Moscow Exchange, the shareholders decided to change the composition of the Board of Directors and dismiss the general director, Pavel Maslovsky. During the vote, the majority voted against him, and he left office. Instead of him, the company was headed by Maxim Meshcheryakov.

But Ermolenko, a member of the general director and member of the board of directors of Pokrovsky Rudnik, which is almost entirely owned by Petropavlovsk, decided to sue. He demanded, as an interim measure, to prohibit the registration of changes in his enterprise. In early September, the court took interim measures, and Petropavlovsk demanded from Pokrovsky Rudnik to convene an extraordinary meeting of shareholders in order to adopt a new charter of the company and terminate the powers of the board of directors. Yermolenko decided to challenge this decision, and at the same time to petition for the prohibition of the meeting of shareholders to make a number of decisions. For example, change the constituent documents and re-elect the board of directors. Later, Petropavlovsk achieved the partial lifting of the interim measures.

Pravo.ru

[undervaluedassets] 27/11/2020 14:24

There is another problem here..

If they have been stockpiling 3rd party concentrate ... Well, let's hope not they have not been stockpiling too much..

Because this is effectively a hedge gone wrong.

Whatever third party concentrate they do have - I bet they wish that they could buy it now rather than the price they paid for it 3 months ago.

I have always said that perhaps they should charge a fee for processing third party concentrate rather than buying it themselves because there is risk that you bought it at the wrong price

[bubloo] 27/11/2020 13:00

please does anyone know what happened to the case o 24th regarding pavels' son and ermenlenko

[srpactive] 26/11/2020 08:52

r

Yes was in hgm from 30p, I have increased here this morning.

dyor

active

[robertstronghand] 26/11/2020 08:29

Should be on the shortlist, Highland was very well run, even if the Abramovich stitch up at the end left a nasty taste in the mouth. That said I always feared being delisted, the discount was ridiculous. Thankfully we have a broader shareholder base and are listed on the main markets, as well as operating under English company law.

[midasx] 25/11/2020 16:26

Would be very nice!

[officehead] 25/11/2020 09:55

Idle Speculation - Wishful thinking

[midasx] 24/11/2020 15:59

thanks RSH,

The resolution at the EGM was specific.


The Further Requisition requests that a special resolution be proposed at a General Meeting (the "GM") for:

1. The Board to commission an independent forensic investigation to review all transactions and arrangements entered into in the three years preceeding the date of this resolution to which any of the following entities:

a. The Company or any of its subsidiaries or affiliates; or
b. IRC Limited, LLC KS GOK (Kimkano-Sutarsky GOK) or any of their facilities or affiliates,
was directly or indirectly a party in which any of the following persons is or was during the last three years, in any way, directly or indirectly interested:

i. any current or former director or senior manager of the Company or any of its subsidiaries or affiliates; or

ii. any current or former senior manager of IRC Limited or any of its subsidiaries or affiliates; or;

iii. any legal or natural person connected with and/or who is an associate of any of the persons referred to in (i) and (ii) above, where "connected with" and "associate of" shall have the meanings set out in section 252 of the Companies Act 2006 and section 435 of the Insolvency Act 1986, respectively.

For the purpose of carrying out such independent forensic investigation the board shall retain one of the following firms: Deloitte, EY, KPMG, or PwC. The purpose of the forensic investigation is to determine if each such transaction or arrangement was carried out in the best interests of the Company and to the benefit of its shareholders or otherwise. The independent forensic investigator shall provide a written report detailing its findings. The board shall promptly make available to the shareholders an unredacted copy of the forensic investigator's report.

[robertstronghand] 24/11/2020 15:13

Good to see someone else appointed to do the audit rather than Baker Tilly, sign of independence. Always a sign of wrongdoing when a party opposes an audit, whether they are Joe Biden or the Amur gang.

[robertstronghand] 24/11/2020 15:08

Roman Avdeev owns Sova Capital, Blendiser is Avdeev's Cyprus vehicle but Sova also holds some additional convertibles and shares not owned by Avdeev personally through his Cyprus vehicle, although it might be Avdeev personally, just not through his Cyprus vehicle. Avdeev is another powerful person and a welcome addition to the shareholder base, Petropavlovsk is somewhat unique in Russia with its diversified shareholder base. Gold crushed but miners holding up, at support of the descending wedge so hopefully a low in and a very strong base built for the next move up.

[undervaluedassets] 24/11/2020 14:10

gold crushed again today

[midasx] 23/11/2020 23:15

Trying to make sense of todays holding RNS.

Notification of Sova Capital holding of shares and reverse repos of 4.59%

It appears they have bought these for Mr.Roman Avdeev?



It would appear he also holds:-

Mr. Roman Avdeev 4.13%

and as Director

Blendiser Corporation LTD 4.13%

or are these holdings one and the same?

[weemonkey] 23/11/2020 15:07

Price of gold is getting crushed today.

Medium term threats receding I guess

1st among which is COVID-19, 2nd of which Trump chaos.

Gold is a fear trade .. and as fear recedes..