Polo Resources Dividends - POL

Polo Resources Dividends - POL

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Polo Resources Limited POL London Ordinary Share VGG6844A1158 ORD NPV (DI)
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 1.57 00:00:00
Open Price Low Price High Price Close Price Previous Close
1.57
more quote information »
Industry Sector
MINING

Polo Resources POL Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
12/09/2011InterimGBX230/06/201030/06/201121/09/201123/09/201105/10/20110
05/08/2010InterimGBX330/06/200930/06/201018/08/201020/08/201027/08/20103

Top Dividend Posts

DateSubject
29/9/2020
19:18
longjohnsilver1: Yes of course spights - 15 Aug 2020 - 12:28:25 - 16797 of 17361 POLO RESOURCES - POL Polo could be the bargain of a lifetime Depending on Fridays activity
01/9/2020
06:08
spights: https://uk.advfn.com/stock-market/london/polo-resources-POL/share-news/Polo-Resources-Limited-Resignation-of-Nominated-Ad/83170507
26/8/2020
06:39
spights: https://uk.advfn.com/stock-market/london/polo-resources-POL/share-news/Polo-Resources-Limited-ANDINA-GOLD-INVESTMENT-UP/83137498
21/8/2020
11:53
big frankie: 888ICB, Please feel free to correct me if I am wrong but my recollection is that the share split was, that every ten shares owned would be consolidated to one. Therefore those who paid 50p for POL shares in 2011, and still hold them, now own 10 times fewer shares worth less than 2 pence each. https://uk.advfn.com/stock-market/london/polo-resources-POL/share-news/Polo-Resources-Limited-Share-Consolidation/56088370 Apologies if I am mistaken.
17/8/2020
10:47
888icb: You have not accurately set out Polo’s Investing Policy The Directors may propose a special dividend or implement share buy-backs from time to time but the objective will be to achieve returns to shareholders through the appreciation in the value of the Company’s shares rather than by means of distribution The above extract is from the Polo Website. So they can pay a special dividend as they have done in the past or buy back shares. Clearly the concern of all shareholders is that Tang has not been able to bring about an appreciation in the value of the Company’s shares and this needs to be addressed. I believe he is relying on GCM to achieve the rerating as that is why he bought his Polo shares in the first place.
01/8/2020
14:28
johnnyrambo1: Once again leaving the boat.... Resignation of Nominated Adviser Fri, 31st Jul 2020 17:25 RNS Number : 8383U Polo Resources Limited 31 July 2020 This announcement contains inside information as defined in EU Regulation No. 596/2014 and with the publication of this announcement via a regulatory information service this information is now considered to be in the public domain. 31 July 2020 POLO RESOURCES LIMITED ("Polo" or the "Company") Resignation of Nominated Adviser Polo Resources Limited (AIM: POL), the multi-sector investment company with interests in oil, gold, coal, copper, phosphate, lithium, iron and vanadium, announces that Allenby Capital Limited ("Allenby Capital") have served notice to resign as the Company's nominated adviser. It has been mutually agreed between the Company and Allenby Capital that this resignation will become effective at the close of business on 31 August 2020. Pursuant to Rule 1 of the AIM Rules for Companies, if an AIM company ceases to have a nominated adviser, trading in its AIM securities will be suspended. Accordingly, if no appointment is made by 31 August 2020, the Company's shares will be suspended at 7.30 a.m. on 1 September 2020. If, within one month of that suspension the Company has failed to appoint a replacement nominated adviser, the admission of its AIM securities will be cancelled. The Company will endeavour to identify a nominated adviser to succeed Allenby Capital and shall update shareholders in due course. For further information, please contact: Polo Resources Limited - Kudzayi Denenga, Investor Relations +27 (0) 787 312 919 Allenby Capital Limited (Nominated adviser & broker) - John Depasquale +44 (0)20 3328 5657 About the Company Polo Resources Limited is a multi-sector investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For complete details on Polo, please refer to: www.poloresources.com. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
25/8/2019
14:43
shawzie: 9 June 2016 Polo Resources Limited ("Polo" or the "Company") polo increases interest in blackham resources Further to the announcement made on 28 May 2014, Polo Resources Limited (AIM: POL), the natural resources investment company with interests in oil, gold, coal, copper, phosphate, iron and vanadium, announces that its subsidiary Polo Investments Limited ("PIL") has given notice of its intention to exercise its right to purchase a further 49 per cent of Perfectus Management Ltd ("Perfectus") for A$3.0 million to be satisfied by the issue of 9,832,358 new ordinary shares in Polo ("Consideration Shares") at the price agreed in 2014 of 15p per share. At 7 June 2016 closing price of 4.00p, the Consideration Shares have a value of approximately GBP393,000 or A$800,000. As at 24 May 2016, Perfectus had unaudited net assets of US$4.68 million (approximately GBP3.24 million or A$6.35 million). Perfectus owns 5,888,495 ordinary shares (approximately 2.3 per cent.) in Blackham Resources Limited's ("Blackham") issued fully paid ordinary share capital. Polo directly holds a further 14,761,905 (approximately 5.83 per cent.) Blackham ordinary shares. The Consideration Shares will when issued represent approximately 3.15 per cent of Polo's enlarged issued share capital. Upon completion, Polo's undiluted interest in Blackham will increase to approximately 8.11 per cent from its current attributable combined direct and indirect holding of approximately 6.97 per cent. Application will be made for the Consideration Shares, which rank pari passu with Polo's existing issued ordinary shares, to be admitted to trading on AIM, following which Polo's enlarged issued share capital will amount to 311,789,151 ordinary shares. The Company does not hold any Ordinary Shares in treasury. A further announcement will be made on the admission of the Consideration Shares in due course. Perfectus is a substantial shareholder in Polo with a holding of 32,334,048 Polo ordinary shares.
24/8/2019
14:58
shawzie: RNS Number : 2528G Polo Resources Limited 19 November 2015 19 Nov 2015 Polo Resources Limited ("Polo" or the "Company") polo increases DIrECT interest in blackham resources Polo Resources Limited (AIM: POL), the natural resources investment company with interests in gold, oil and gas, coal, iron ore, copper and phosphate, is pleased to announce an increase in its direct interest in Blackham Resources Limited ("Blackham") (ASX: BLK), an Australian gold exploration company listed on the Australian Stock Exchange. Polo has agreed to acquire 10,000,000 ordinary shares of Blackham for AUD$2.1 million (approximately GBP980,000) or AUD$0.21 per share, a 10.6 per cent discount from Blackham's closing share price on 18 November 2015, from Perfectus Management Ltd ("Perfectus") by way of issuing and allotting 25,016,484 new Polo ordinary shares at an agreed price of 3.92 pence per share to Perfectus, a 36.11 per cent premium to Polo's closing share price of 2.88p on 18 November 2015. Perfectus is a 49 per cent owned associate of Polo. Blackham had audited net assets of AUD$17.75 million as at 30 June 2015. The new shares will represent 8.28 per cent of Polo's enlarged issued share capital, bringing Perfectus' total holding in Polo to 10.92 per cent. Upon completion, Polo's undiluted interest in Blackham will increase from its current direct holding of 2.37 per cent to 7.36 per cent, resulting in a combined direct and indirect holding of 10.3 per cent, of which 8.8 per cent is attributable to Polo. Application will be made for the 25,016,484 new ordinary shares, which rank pari passu with Polo's existing issued ordinary shares, to be admitted to trading on AIM. Admission is expected to become effective on or around 24 November 2015, following which Polo's enlarged issued share capital will amount to 301,956,793 ordinary shares. The Company does not hold any ordinary shares in treasury. Datuk Michael Tang, Executive Chairman, commented: "Our increased interest in Blackham demonstrates confidence in the potential for this company to generate strong shareholder returns. "The recently released Pre-Feasibility Study for Blackham's Maltida Gold Project demonstrates robust economics and a relatively low capital requirement to reach production. Blackham's management team expects to complete the Definitive Feasibility Study by first Quarter 2016 and continues to add significant tonnages and grades to the gold inventory."
24/8/2019
14:31
shawzie: Glavey - This could be your starting point :- RNS Number : 1654I Polo Resources Limited 28 May 2014 28 May 2014 Polo Resources Limited ("Polo" or the "Company") polo increases interest in blackham resources Polo Resources Limited (AIM: POL), the natural resources investment company with interests in gold, oil and gas, coal, iron ore and phosphate, is pleased to announce an agreement to increase its interest in Blackham Resources Limited ("Blackham") (ASX: BLK), an Australian gold exploration company listed on the Australian Stock Exchange. Polo has agreed to subscribe for 49 per cent of the enlarged capital of Perfectus Management Limited ("Perfectus"), which in turn owns 15,888,495 ordinary shares (or 15 per cent) of Blackham's issued fully paid ordinary share capital. In consideration the Company will pay AUD 1 million in cash and AUD 2 million by way of issuing and allotting 7,317,564 new ordinary shares at an agreed price of 15 pence per share to Perfectus, an 18 per cent premium to Polo's closing share price on 27 May 2014. The new shares will represent 2.64 per cent of Polo's enlarged issued share capital. Upon completion, Polo's undiluted interest in Blackham will increase from its current direct holding of 4.2 per cent to a combined direct and indirect holding of 11.85 per cent. In addition, the Company has the right to purchase a further 49 per cent of Perfectus within the next two years for AUD 3 million to be satisfied by the issue or transfer to the vendor of ordinary shares in Polo at an agreed price of 15 pence per share. Exercise of the option would increase Polo's interest in Blackham's current issued share capital to approximately 19.2 per cent. As part of the agreement a call option has also been placed on Polo's interest in Perfectus with an exercise price set at the higher of 49 per cent of the net asset value of Perfectus or AUD 4.5 million, representing a premium of at least 50 per cent to Polo's headline entry price. Application will be made for the 7,317,564 new ordinary shares, which rank pari passu with Polo's existing issued ordinary shares, to be admitted to trading on AIM. Admission is expected to become effective on, or around, 2 June 2014, following which Polo Resources' enlarged issued share capital will amount to 276,940,309 ordinary shares. Michael Tang, Executive Chairman, commented: "Our increased interest in Blackham demonstrates our confidence in the potential of its gold exploration assets and of its management to generate strong shareholder returns."
13/3/2019
21:35
st96dgx8: https://docs.google.com/a/phronimoscap.com/viewer?a=v&pid=sites&srcid=cGhyb25pbW9zY2FwLmNvbXx0M3N0aW4xfGd4OjU5YzI3MGQ1MGM2OGQ4Y2I Phronimos Urges Polo to Respond to Shareholder Requests and Concerns March 13, 2019—Subsequent to the publication of Phronimos Capital's (“Phronimos”) letter to the Board of Directors of Polo Resources (“Polo” or the “Company”), on February 13th, we have heard from numerous other Polo shareholders supportive of our cause and, consequently, the concerned shareholder group has grown significantly. We believe there will be broad shareholder support for a substantial cash distribution or share buyback if the proposal to return capital were put to a vote at a requisitioned meeting of the shareholders of Polo. Fellow Polo shareholders supportive of a significant share buyback or distribution are encouraged to contact us at sjohn@phronimoscap.com. Phronimos transmitted a follow-up letter to the Polo Board of Directors today. The full text of the letter can be found below or at: www.phronimoscap.com/news March 13, 2019 Polo Resources Limited Craigmuir Chambers, P O Box 71 Road Town, VG1110 British Virgin Islands To the Board of Directors: We are disappointed with Polo’s response to the proposals put forth in our letter dated January 28th, 2019. We write to you again so that the Board and the Company’s shareholders fully understand our viewpoint and the reasons for our concern. We firmly believe the underlying value in Polo is significantly higher than the current share price and that the stubborn adherence to the Board's current investment policy is detrimental to the interests of shareholders as a whole. The market’s lack of faith in the stated investment policy is evidenced by the greater than 70% discount of Polo’s share price to its Net Asset Value (“NAV”) per share. The persistently large discount of Polo’s share price to net asset value precludes shareholders from realizing anything remotely close to its fair value through open-market transactions. The status-quo, which has resulted in significant realized and unrealized losses for past and present shareholders of Polo, is unacceptable. Consequently, we request that the Board: 1. Provide fellow concerned shareholder Nicholas Greenwood with the register of members within five business days. As you are aware, Section 100 of the BVI Business Companies Act grants shareholders a statutory right to inspect and make copies of the register of members. The Company has denied Mr. Greenwood’s request to exercise his statutory right, citing “data privacy” concerns. The right to inspect shareholder lists for the purpose of communicating with shareholders with regards to a proper purpose, being in this case the exercise of shareholder rights in the form of gathering support for a potential requisition of a shareholder meeting, is enshrined in company law. We urge the Board to respect this right. 2. Provide an explanation and/or the remuneration committee minutes regarding the appropriateness of Chairman Michael Tang’s total compensation (including the 2018 share option grant of 20 million shares at a greater than 70% discount to NAV.) We note that Chairman Tang’s consulting fees of ~USD 1 million per year from Polo Resources and its investee company GCM Resources is many multiples above the norm. According to BDO’s AIM Directors Remuneration Report 2018, the median average total salary for CEOs of AIM constituents was approximately GBP 150,000. The QCA Remuneration Committee Guide for Small and Mid-Size Quoted Companies states: “Companies should communicate their decisions and supporting rationale clearly to shareholders and other stakeholders, most importantly through the report of the remuneration committee chairman. A company will face severe criticism if it rewards failure. Just as important is to ensure that mediocre performance is not rewarded as if it were good performance. It is fair that executives are offered the opportunity for higher levels of remuneration if they produce good results and excellent long-term sustainable value creation. Companies should avoid paying their executive directors more than is necessary to remunerate and motivate them. … No board should allow any executive director to be, or to consider himself or herself to be, irreplaceable: amongst other governance challenges that will inevitably arise, this may lead to demands for excessive remuneration.” Furthermore, we note that in 2018, the Company issued share based payments granting Chairman Tang the option to purchase 20,000,000 shares at a greater than 70% discount to NAV. We believe the valuation methodology chosen by the Company significantly understates the fair value of the grant. The choice of a particular valuation method to determine fair value is not “fair and reasonable” if it does not take into account information material to the value of the corporation. With regards to investment companies (like Polo) in particular, the Net Asset Value per share is of paramount importance in determining “fair value.” Had the NAV per share been used to determine the fair value of the share based payment, we calculate the value of the grant to be ~USD 2.9 million (or ~USD 1 million annually considering that the options vest in equal instalments over a three year period.) Summing up the 2018 consulting fees and the share based payments using NAV as the fair value in pricing the options, total annual compensation for Chairman Tang was approximately USD 2 million (or GBP 1.5 million.) Even if we were to exclude Chairman Tang’s ~USD 400,000 salary from Polo’s investee company, GCM Resources, his total annual compensation of approximately USD 1.6 million (or GBP 1.2 million) is significantly above the median average total remuneration of GBP 248,000 for CEOs of companies trading on the AIM (as cited in BDO’s AIM Directors Remuneration Report 2018). As we stated in our previous letter, we do not begrudge management teams being adequately compensated when they have helped to create shareholder value. However, Chairman Tang’s significantly above market compensation (approximately 5-6 times the median) stands in stark contrast to the historical returns of Polo’s shareholders, who have witnessed c.80% decline in the share price and received no dividends or return of capital since his appointment in May 2013. 3. Engage in a thoughtful dialogue regarding potential financing to help unlock value for shareholders. Subsequent to the publication of Phronimos’ letter to the Board of Directors on February 14th, we have heard from other Polo shareholders supportive of our proposals, and, consequently, the concerned shareholder group has grown significantly. Furthermore, we have also heard from other investors willing to provide non-dilutive financing to help unlock value for Polo shareholders. 4. Provide shareholders with the time frame deemed necessary by the Board to evaluate any shareholder value unlocking proposals currently being contemplated. We strongly urge the Board to respond to our requests and concerns without further delays. Sincerely, Sam John, CFA Managing Member of Phronimos Capital, LLC Investor Contact: Sam John (sjohn@phronimoscap.com/+1 (424) 781-7871/www.phronimoscap.com) SOURCE: Phronimos Capital, LLC Important Information This document sets out the views of Phronimos Capital, LLC (“Phronimos”). This document does not constitute a financial promotion of any kind by Phronimos or any affiliate, and the receipt of this document in no way renders you a client of Phronimos or any affiliate. The information contained in this document should not be construed as investment or tax advice, nor should it be construed as an invitation to purchase or sell any of your shares in Polo Resources Limited (“Polo” or the “Company”) (LON: POL). If you are in any doubt as to the action you should take, you should seek advice from an appropriately qualified independent financial or other adviser. The information contained in this document (which may include price or other data) is for illustrative purposes only and may not be comprehensive or up to date. In preparing this document, Phronimos has relied upon and assumed, without independent verification, the accuracy, reliability and completeness of all information available from public sources. No responsibility is accepted and no representations, undertakings or warranties are made or given, in either case expressly or impliedly, by Phronimos or any affiliate as to the reliability, accuracy, timeliness, completeness or fitness for a particular purpose of information contained in this document or as to the reasonableness of any assumptions on which any of the same is based. Additionally, neither Phronimos nor any affiliate accepts any direct or consequential liability for any errors in or reliance upon the contents of this document. Neither Phronimos nor any affiliate will be responsible for updating any information contained within this document and opinions and information contained herein are subject to change without notice. Certain figures included in this document have been subject to rounding adjustments. The release, publication or distribution of this document in jurisdictions other than the United Kingdom may be restricted under the laws of those jurisdictions and therefore persons into whose possession this document comes should inform themselves about and observe any such restrictions. Failure to comply with any such restrictions may constitute a violation of the securities laws of any such jurisdiction. Phronimos is not affiliated with Polo. However, as at the date of this document, clients of Phronimos hold a long position in shares of Polo. We acquired interests in the securities of the Company based on the belief that such securities, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to Phronimos, and the availability of securities of the Company at prices that would make the purchase or sale of such securities desirable, Phronimos may seek to increase or decrease its clients’ long position in the Company.
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