Polo Res.(See LSE:POL) Share Discussion Threads

[barryrog] 09/3/2010 08:27

Nil Pd,
hope you are staying invested as it will be great to have you posting from over there.

[nil pd] 09/3/2010 08:25

I wish I was Kerrie, but I don't have anything to add right now.

To me, stock exchange listings mean access to a wider community of investors, greater liquidity and greater fund raising power. Issue of TSX listed stock - for whatever reason - to Canadian investors, say to purchase something from them (??their shares in another company), would clearly be more attractive than issuing them with LSE listed stock.

I'm speculating (like you, probably) that an all-paper bid for a Canadian listed company would be easier.

[kerrie3] 09/3/2010 08:10

i suspect that it would also make it easier to expand their investment portfolio by buying into TSX listed Co's.
Nil Pd - you're best placed to comment on this - thoughts?

[nil pd] 09/3/2010 08:04

When it happens, I shall probably sell my LSE stock and buy them back on the TSX. Because I live in Canada (and yes, it's 3:04am for me!).

[humbugg] 09/3/2010 08:00

very good news indeed. onwards and upwards.

[barryrog] 09/3/2010 07:57

more savvy investment community re Mining and Minerals thats for sure.

[seagreen] 09/3/2010 07:54

Canadian investors understand Coal and we hopefuly will get re-rated......it will also alert them to GCM and CDN ......very good news

[azalea] 09/3/2010 07:50

barryrog
This is an interesting surprise move, I an curious as to the reason behind it.

[zangdook] 09/3/2010 07:47

azalea

Do you understand the meaning of the words you used? 'Stated intention' means they have stated that it is their intention. They have not. You are not merely presenting your speculation as fact; you are attributing it to the company and saying they have stated it to be fact. However much you may wish it to be true, however likely you may think it is, what you wrote is misleading.

[barryrog] 09/3/2010 07:45

that is great news, i wasn't even aware they were going for a dual listing.
you're right 'Storming Norm', now ISAble.

[someuwin] 09/3/2010 07:32

RNS Number : 2819I
Polo Resources Limited
09 March 2010

9 March 2010

Polo Resources Limited
("Polo" or the "Company")

Polo announces conditional listing on Toronto Stock Exchange

Polo Resources, the resource company with coal and uranium interests in Africa, Australia and Asia,is pleased to announce that its ordinary shares have been conditionally approved for listing on the Toronto Stock Exchange("TSX"). The Company's shares will trade under the symbol "POL". The Company's shares currently trade on the Alternative Investment Market ('AIM') of the London Stock Exchange under the symbol "PRL".

Subject to meeting the final requirements of the TSX, the ordinary shares of the Company will commence trading within the next few weeks.

- Ends -

[storming norm] 09/3/2010 07:31

This should now be eligable to trade in an ISA.

[azalea] 08/3/2010 11:01

zangdook
Taken in isolation I would agree, however, you clearly have not read the report. When some one 'says'(non verbatim) we would like to put more money in one energy resource and that is part of the reason for coming out of another one; you can draw your own conclusions!

[barryrog] 08/3/2010 10:42

I am sure it is a 'done deal' and now just a question of price.
i think the use of BMO isn't to decide whether or not they should sell but to speak with prospective buyers to negotiate the highest price.

[katylied] 08/3/2010 10:14

zangdook... Is the decision likely to be about anything other than price?...

[zangdook] 08/3/2010 10:08

azalea

The report you cite says PRL "will likely decide whether to sell its 9.29% stake in A$1.8 billion-valued Extract within the next two months, managing director Neil Herbert said."

That really doesn't support your assertion that "it is the stated intention of PRL to sell its Extract stake". It says they haven't yet decided.

[katylied] 08/3/2010 09:53

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)

[humbugg] 08/3/2010 08:06

barry,
you are quite right to point out that the extract sale would have great financial benefits to all shareholders regardless of whether they divi the money or not. i was trying to point out that i didnt think we had a chance of ever getting a divi out of the extract sale. its just not his style. better to let him invest it where he feels fit imho. always remember we are buying into the management.
katy,
could be spent anywhere for all i know. he's got sooo many fingers in so many pies. im happy to leave it up to him.
good luck all.

[barryrog] 07/3/2010 15:50

zangdook,
not an RNS, but as close as you will get.
remember they had already completed a senior mgt strategic review of their holdings and i suspect they recommended a sale to the highest bidder and that Dattels just wants that independently endoorsed by BMO.

[zangdook] 07/3/2010 14:32

azalea - 7 Mar'10 - 12:10 - 6471 of 6472

Given that it is the stated intention of PRL to sell its Extract stake...
--------

Where has this been stated?

All I have seen is the following:

"...to evaluate and advise on a range of strategic options to enhance shareholder value with respect to its shareholding in Extract Resources Limited ("Extract") following a review by its Independent Investment Committee..."

[barryrog] 07/3/2010 12:34

i have to agree with Kerrie.
certainly a sale of the Extract holdings particularly at a premium would move them a lot closer to 9.25p.
its interesting to note that the Strategic Review is specifically aimed at enhancing shareholder value so clearly they are frustrated that the asset values are simply not being reflected in the current share price.

[azalea] 07/3/2010 12:10

Given that it is the stated intention of PRL to sell its Extract stake, it is really a question of who is going to offer the best overall 'deal', which may not be all in cash. Nevertheless, it's a virtual certainty that any deal will result in a significant rise in the share price