Polo Resources Share Discussion Threads

[russman] 24/3/2023 06:22

Given up on Tang ever redeeming us.
GCM have used 3.2 of £3.5mn Polo loan.
GCM will need to raise more capital soon.
Amazed if anyone (apart from the Tang concert party) gives them any more dosh.

[rogerq1] 21/3/2023 12:48

The interesting point though is that it seems that he has not disposed of any Polo shares in Hibiscus. This suggests that he is not clearing out cash from Polo whilst it is delisted and we shareholders are getting no financial information.
If anyone sees it differently, please comment.

[alpal2] 21/3/2023 09:08

Thanks for keeping this thread alive; not sure how any of us will ever benefit.

[shawzie] 20/3/2023 19:03

Tang still seems to be alive even if Polo is buried in a warm climate.
COMPANY ANNOUNCEMENTS
Date : 20 March 2023

Changes in Sub. S-hldr's Int (Section 138 of CA 2016)


Particulars of substantial Securities Holder

Name DATUK MICHAEL TANG VEE MUN
Nationality/Country of incorporation Malaysia
Descriptions (Class) Ordinary Shares
Details of changes

No Date of change
No of securities
Type of Transaction Nature of Interest
11 16 Mar 2023
2,291,400
Acquired Direct Interest
Name of registered holder Affin Hwang Nominess (Tempatan) Sdn Bhd Pledged Securities Account for Tang Vee Mun
Description of "Others" Type of Transaction
22 17 Mar 2023
2,000,000
Acquired Direct Interest
Name of registered holder Affin Hwang Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Tang Vee Mun
Description of "Others" Type of Transaction

Circumstances by reason of which change has occurred Open market acquisition
Nature of interest Direct Interest
Direct (units) 4,291,400
Direct (%) 0.213
Indirect/deemed interest (units) 214,359,066
Indirect/deemed interest (%) 10.652
Total no of securities after change 218,650,466
Date of notice 17 Mar 2023
Date notice received by Listed Issuer 20 Mar 2023


Remarks :
After the change, the direct interest of Datuk Michael Tang Vee Mun is as follow:

1) Affin Hwang Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Tang Vee Mun - 4,291,400 ordinary shares

The deemed interest is by virtue of Datuk Michael Tang Vee Mun's interest in Mettiz Capital Sdn Bhd and Polo Investments Limited pursuant to Section 8 of the Companies Act 2016, as follows:

1) 138,900,000 ordinary shares are registered in the name of Cimsec Nominees (Asing) Sdn Bhd CIMB for Polo Investments Limited (PB);

2) 3,625,000 ordinary shares are registered in the name of Cimsec Nominees (Tempatan) Sdn Bhd CIMB for Mettiz Capital Sdn Bhd (PB);

3) 51,834,066 ordinary shares are registered in the name of Affin Hwang Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Mettiz Capital Sdn Bhd; and

4) 20,000,000 ordinary shares are registered in the name of CGS-CIMB Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Mettiz Capital Sdn Bhd.

[russman] 20/1/2023 07:02

No way. "Staff costs" at GCM = £611k last year.
Nice Tango if you can get it

[alpal2] 19/1/2023 20:49

Anyone go to AGM?

[russman] 19/1/2023 06:51

Tang got 99% at GCM AGM. "It's a funny old game."

[russman] 14/1/2023 05:40

I draw your attention to the long history of "security issues" at previous GCM AGMs.
Bangladeshi activists together with London-based climate defenders; why not add aggrieved Polo minority shareholders to the protest.

[russman] 14/1/2023 05:34

My main concern is that Polo have not published an Annual Report since delisting.

[alpal2] 13/1/2023 23:42

Please ask chairman or Tang all the questions that will embarrass him over his appalling management of Polo.
Inter alia:
1] Is Tang drawing a salary [or management fee] when the share price has collapsed from 36p to Nil under his management? How can any remuneration be justified?
2] Is there any way to appoint an independent director who would be responsible to shareholders [other than Tang]?
3] Will Tang resign as a director or manager due to his manifest incompetence?
4] Do the directors have any intention of taking action to benefit ALL shareholders. If so, why have they not done so.

[bedbel] 13/1/2023 16:20

Wiley123,

Good questions, I'll try to get an answer.

[balars] 13/1/2023 15:54

Anybody looking to buy. I have 650,000 shares

[wiley123] 06/1/2023 13:02

Questions unrelated to GCM will not be answered. So please ask the following questions: When might Polo ask GCM for loan repayment? is it possible to merge GCM and Polo? Would a merger need independent GCM shareholder approval?

[tyc1ano] 06/1/2023 12:22

I will attend too at 10.00 a.m. on Wednesday 18 January 2023, at QEII Centre, Broad Sanctuary, Westminster, London, SW1P 3EE.
Jonathan Roberts

[bedbel] 28/12/2022 12:57

Hi Roger,
Indeed Jan 18th, I'm planning to attend but also have little hope to meet Tang.
See you there then.
The more Polo shareholders attend, the clearer the message will be.

[rogerq1] 28/12/2022 11:41

Bedbel, I think the AGM of GCM Resources is Jan 18th, not 8th.
I would be happy to attend as like you I would like to meet Tang but doubt that he will have courage to attend.

[bedbel] 22/12/2022 14:03

Thank Yells for the info. I will send an email with my concerns.

[yells2] 22/12/2022 13:23

The ShareSoc are covering POL in their latest newsletter--

https://drive.google.com/file/d/1gluD8-bEP0F6xUGB3M05pIKOTTCv2Z61/view

[yells2] 22/12/2022 13:07

Hi guys- Ive been in touch with The Share Society (Cliff Weight) and he has usefully given me contact details for someone at the FCA who may be in a position to looking into why POL havent been updating their website as promised when they delisted. We are still shareholders and the Hibiscus holding alone makes this worth a decent amount to all holders, its just that we have no up to date info on POL or method of dealing in the shares either. So please contact- [e-mail] and copy to - [e-mail] plus- [e-mail] with your concerns and they will hopefully get back to us when they have tracked down the current directors and put our points to them. Feel free to share this.

[bedbel] 22/12/2022 10:06

There is an agm of GCM on jan 8th. I would like to attend to meet Tang but I don't know if he's coming to London. Anyone else going?

[russman] 15/12/2022 17:00

Tang Brass Plate.

[badger010776] 14/12/2022 17:06

Did you not dyani research?

[scoots] 01/12/2022 20:32

Explain please

[russman] 01/12/2022 17:07

Dyani to the rescue.