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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Polo Res.(See LSE:POL) | PRL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 4.775 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4.775 | 4.775 |
| Top Posts |
|---|
Posted at 05/8/2010 09:50 by stephanie_m Thursday 05 August, 2010Polo Resources LtdDividend Declaration RNS Number : 5789Q Polo Resources Limited 05 August 2010 5 August 2010 Polo Resources Limited ("Polo Resources", "Polo" or "the Company") Dividend Declaration - Polo declares conditional dividend of 3p per share In accordance with the press release of 2 July 2010 the Board of Directors of Polo Resources Limited (AIM and TSX: POL) is pleased to announce that it has resolved to pay a special dividend of 3p per share (gross) conditional upon the completion of the sale of the Group's interest in Extract Resources Limited, which is expected to occur on or before 13 August 2010, and the Company receiving the cash proceeds of such sale. The dividend record date has been set for 20 August 2010, the ex dividend date has been set for 18 August 2010 and the payment date has been set for 27 August 2010, provided that the aforementioned condition has been met. In addition, the Board has resolved to establish a share buy-back programme. Accordingly, in accordance with its powers under the Company's articles of association, the Board has delegated the administration of the programme to the independent investment committee. The independent investment committee will have the discretion, subject to any legal or regulatory requirements, to buy back up to 10 per cent. of the Company's issued shares over the next twelve months where the price at which the Company's shares trades is at a significant discount to the Company's net asset value. It is the intention that any shares bought back will be cancelled. Contacts: Polo Resources Limited Neil Herbert Executive Co-Chairman + 27 82 404 36 37 + 27 82 404 36 37 |
Posted at 09/7/2010 10:00 by stephanie_m Polo Resources LtdCorporate Update RNS Number : 0937P Polo Resources Limited 09 July 2010 9 July 2010 Polo Resources Limited ("Polo" or "the Company") Proposed investing policy, preliminary approach and proposed meeting of Shareholders Following the announcement on 30 June 2010 with respect to the sale of its interests in Peabody-Polo Resources B.V., Polo Resources (AIM and TSX: POL) is now categorised as an investing company for the purposes of the AIM Rules. Polo announces that it is proposing an investing policy, the full text of which is set out at the end of this announcement, for approval at a meeting of shareholders ("EGM") which is expected to be held at the beginning of August 2010. Polo reports that it has been notified that Laxey Partners Ltd ("Laxey") holds 4.04% of the voting rights of the Company as at 2 July 2010 and that Polo has received a non-binding indicative offer letter ("Letter") from Laxey. The Letter, which is subject to due diligence and any regulatory conditions, states that Laxey is considering making an all share offer to acquire the entire issued share capital of the Company through a special purpose vehicle ("Offeror") in consideration for shares in the Offeror. The Offeror, which would be an investing company for the purposes of the AIM Rules, would then apply to have its issued share capital admitted to trading on AIM. The Letter notes that the investing policy of the Offeror would be the orderly realisation of the Company's portfolio and the return of the net proceeds to shareholders. The Offeror would appoint Laxey as its investment manager and seek to capitalise any costs relating to the establishment of the Offeror and facilitating the transaction. The Directors of Polo have rejected the indicative offer contained in the Letter. Since the Letter was written, Polo has announced the termination of its merger discussions with Caledon Resources Plc and the disposal of its interest in its Mongolian joint venture by the sale of its shareholding in Peabody-Polo Resources B.V. As announced this morning, Polo and its wholly owned subsidiary, Polo Australasia Limited have also signed an agreement for the sale of its shares in Extract Resources Limited for a total consideration of approximately AUD157.9 million and the directors are currently assessing the most suitable manner in which to return value to shareholders through the use of the sales proceeds, which as announced on 2 July 2010, subject to receipt of shareholder approval, completion of the sale of the Extract shares and receipt of cash proceeds of the sale of the Extract shares, the Board of Polo may utilise part of the proceeds of sale to fund a special dividend to shareholders of 3p per share. The Board of Polo also intends to use the proceeds from the sale of the Extract shares in accordance with its proposed investing policy and for working capital purposes. Polo will update shareholders on the outcome of this assessment in due course. A shareholders circular and notice convening an EGM to consider and if thought fit approve the Company's proposed investing policy will be posted to shareholders shortly. Contacts: Polo Resources Limited Neil Herbert, Executive Co-Chairman |
Posted at 06/7/2010 22:37 by stephanie_m Daily Mail 6/7/10Buyers chased Polo Resources 0.7p better to 4.275p, following Friday's late news of a special dividend of 3p a share once it completes the sale of a strategic investment asset. Long-term admirer Liberum expects the early premium sale of its portfolio holding Extract, which has a book value of 3.5p. Another 0.56p a share should be receivable in 12 months time from the sale of the Peabody joint venture Read more: |
Posted at 31/3/2010 10:57 by soundbuy I've done much better elsewhere over the last year. But looking ahead and increasing the time scale from 1 yr to 18/24 months and PRL will be there with the others. Plus, I know if I sell out that would mark the turning point. Had Highland Gold for what seemed like an eternity. In profit from day 1 but for a while the share behaved like PRL. Couldn't get anywhere for months. Rose only to retrace and so on. Finally sold at 94p in Jan. Today 130p. So, always believe that if you've made the right choice and the fundamentals haven't changed then the share will come good. Held GCM from £1 on the dot. Watched drift to near 70p. Still in today. PRL will make up for lost time. The increased liquidity with Canadian listing and their appetite for resource stocks will accelerate this. |
Posted at 22/3/2010 18:58 by jonny flame marben100, et al - I no longer have a holding in PRL, wish I had more funds and could build a stake in PRL as I believe that sentiment, prospects and fundamentals are now looking very encouraging, however such is life. I worry that as my attention is elsewhere perhaps regulars of this board may feel the need to set up a new thread due to my lack of attention, if so please feel free to source any material from this thread when setting up a new one. If not and you are happy with the current board but want some links etc added either now or in the future you can find me on the FND bb, no one ever posts there so just drop me a message and I'll update the PRL header as and when needed.I just thought I would mention this. Best of luck with PRL. Kind Regards, JF |
Posted at 18/3/2010 14:11 by nil pd marben, I agree with your sentiments - and with yours steeplejack and probably most on this thread. Nevertheless, PRL does look a little like a resources investment trust.In the past I used to invest profits in ITs and one in particular did extremely well for me - GPE, which is a way in to private equity for the small PIs. GPE acquired unlisted assets as small concerns having massive potential. When they sold them after carefully managing the businesses to Wow! standard the share price responded accordingly. Torotrak was the best example. Now I don't for one minute classify PRL as an IT but I do believe we can expect a significant gap up in the share price once a deal is announced regarding the EXT stake (in my opinion). This will accrue in a similar way as it did for GPE when they sold significant assets because the valuation will be 'real' and will have to be PROPERLY added to the share price While we wait and while the deal-making is going on, a little lubrication of the publicity machinery wouldn't do any harm. I would have thought, provided that specific areas of a potential deal were not visited, PRL's PR company could easily arrange for broker notes that highlight its undervaluation. Or am I being dim here? I don't think so - I have marketing experience too long to mention and I think the company is missing a trick. |
Posted at 08/3/2010 09:53 by katylied I guess one way PRL might look to complete a deal for EXT ahead of any crucial JV negotiations, is if the deal includes new resource assets (coal?) for PRL. That would make it much harder for PRL shareholders to value the deal. On the other hand, its also hard to imagine any major, letting go any quality coal assets cheap at this particular point in time... Just thinking aloud... :o) |
Posted at 03/3/2010 13:16 by azalea FWIWWhatever the pros and cons for GCM and its proposed Phulbari coal project, the value of PRL stake is rising very nicely without it having to move another muscle. Which is making me wonder whether it is today's buyers in PRL or GCM rising sp, that is the cause of PRL ticking up today. A pleasant choice to ponder. |
Posted at 27/12/2009 01:32 by zangdook chrisis33 - 25 Dec'09 - 00:22 - 6021 of 6026EXT worth roughly 4.5p per share to PRL using direct PRL interest of 9.26% and about 5p per share using 10.32%. ----- Chris, the 10.32% is PRL's holding plus PRL directors' personal holdings, so it's irrelevant to PRL's NAV. |
Posted at 25/12/2009 00:22 by chrisis33 ah - PRL market cap about £92m at 3.925p per share.EXT worth roughly 4.5p per share to PRL using direct PRL interest of 9.26% and about 5p per share using 10.32%. Monday 9 November 2009 Polo Resources Limited ("Polo" or the "Company") Increased Strategic Stake in Extract Resources Polo Resources (PRL), the AIM listed mining company with uranium and coal interests in Africa, Australia and Asia, is pleased to report that it has acquired additional shares in Extract Resources Limited ("Extract"), increasing Polo and its associates' aggregate interest in Extract to 25,027,849 ordinary shares of Extract representing 10.32% of the issued ordinary share capital of Extract. Polo is directly interested in 9.26% of Extract's issued share capital or 22,450,849 ordinary shares. (earlier RNS) Total Voting Rights On Admission, Polo Resources notifies the market that the Company's issued share capital will be 2,346,645,623 ordinary shares of no par value each. None of these ordinary shares will be held in Treasury. Therefore the total number of voting rights in the Company will be 2,346,645,623. The above figure of 2,346,645,623 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to interest in, the Company under the FSA's Disclosure and Transparency Rules. |
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