Polo Resources Share Discussion Threads

[russman] 21/3/2019 07:55

Who cares about their investments.
Polo share price does not budge.
Tang has adopted the QCA Code for corporate governance.
But Polo does not abide.

[888icb] 21/3/2019 01:32

If GCM gets the green light you will be extremely pleased if you are a Polo share. It will be massive for Polo.

[behuge] 20/3/2019 18:55

FailedQS i would be curious to know your option choice😜 mine is clearly that some people here are filling their pockets cashing huge salaries since many years....

[jamesss1] 20/3/2019 10:46

I worked that one out.
20p 15p 8p?

[scoots] 20/3/2019 10:38

Not as much as GCM

[jamesss1] 20/3/2019 10:06

How much would this thing rise if GCM was to get the go ahead ?????Thoughts?

[failedqs] 20/3/2019 06:22

Behuge - I remember that from Evil - I make no comment about which of the options I thought was correct, all I can say is that my opinion is unchanged in the 3 and a bit years since then!!.....

[888icb] 19/3/2019 23:17

A buy of 150000 @4.60 this afternoon following yesterday’s 350000.

[behuge] 19/3/2019 16:02

What did really change with polo and tang since 2015??? Nothing, except the few millions in salaries he cashed. Which one is he, a crook or and idiot....(that’;s not from me...)

The Evil Diaries: Polo Resources, Beximco Pharma, Concha and Watchstone

By Evil Knievil 08 December 2015
2 mins. to read
The Evil Diaries: Polo Resources, Beximco Pharma, Concha and Watchstone
I reckon my family owns circa 2m Polo (POL) which cost about £200,000. So I yesterday grasped the opportunity to meet Michael Tang, the Chairman & CEO at The Grosvenor Hotel. I told him that he is either a crook or an idiot. For some reason he did not warm to this categorisation.

However, I asked him how many shareholders there are in Polo. He did not know – this is quite ridiculous. I also asked him why he kept the Johannesburg office open and he invited me to ask Steve Dattels, whom I know and from whom Tang bought de facto control three years ago. This made and makes me angry.

There are real problems here. I would like to go into this company and sort it out. But a BVI company (i.e. Polo) cannot be boarded with less than 30% of the votes in one’s pocket. This enrages me.

[888icb] 19/3/2019 00:48

Nice Buy at the end of trading today 350000 shares at 4.60 which is a £16000 trade.

[jamesss1] 18/3/2019 23:38

Tang is yet to prove any clue he has about running Investment companies

[behuge] 17/3/2019 17:32

He is focused on the many millions he won during his previous 6 years being ceo in polo resources and gcm.....

[russman] 17/3/2019 17:21

Tang needs focus his mind on the needs of minority shareholders.
It is what he is paid to do.

[behuge] 16/3/2019 14:19

For the chinese It also can be a method to remove the competition and other countries to put their fingers into this...they have hundreds of projects going on! One more project or one less won’t make any difference for them but not for GCM who will not survive to this. Can we still trust GCM company after all these years of various promises, protests still going on locally,..Let’s see what future brings. This is however a binary bet. Place your bets accordingly

[888icb] 15/3/2019 22:55

Of course the Chinese will use their political and financial influence to ensure this happens. It’s going to be part of China’s Belt and Road initiative which is a pet project of the Chinese Leader. A massive Chinese state owned company Power China are not going to waste their time on two JV’s for coal fired power plants unless they are very confident that they will be given permission to mine Phulbari. Hasina will not be able to say no to the Chinese as Bangladesh needs this Chinese investment.

[alpal2] 15/3/2019 10:27

SBP: The previous opposition to GCM's proposals has all been political [not economic]. Opposition has been on the lines of "The coal belongs to B'desh and no foreign company should exploit and benefit from this asset." GCM has fought court cases against the government to confirm it's valid ownership of the coal. The B'desh government's response has been to deny permission to exploit the resource even though there is a serious lack of electrical power.
I would have been much happier if the responsibility for getting approval had been on the Chinese who may be better at handling large brown envelopes.

[stupidboypike] 15/3/2019 10:11

apal2,

"By finalising this Second JV Agreement, we are now at a stage where partners have been found for all of the proposed power plants of 6,000MW in total, and are parties to joint venture agreements. I anticipate that this will facilitate the submission of the Company's proposal to the Government of Bangladesh, and am pleased with the progress being made."

Best regards SBP

[alpal2] 15/3/2019 09:34

GCM news is interesting. Why sign a second agreement when GCM have not delivered on the first. It's GCM's obligation to get government approval which they have been trying to get for 10 years. What is different this time?

[888icb] 15/3/2019 08:52

RNS this morning with very good news from GCM regarding a second Very large JV with Powerchina.

[888icb] 15/3/2019 00:11

The Hibiscus investment was made in December 2015 and that was on Mr Tangs watch so he has the credit for our best performing and largest investment. Let’s not forget that Tang bought into Polo because he wants to control GCM which was a Dattels investment.
Tang has always been very keen on GCM and if it comes good will be an investment that sets Polo alight.

[alch00] 14/3/2019 17:14

Oh I thought the Hibiscus investment was from Tang's predecessor?

Good point about Greenwood, I wonder what his plan is.

[shawzie] 14/3/2019 16:11

As Nicholas Greenwood (who recently reduced his holding in Polo, possibly at a loss)is mentioned in the Phronimos article, perhaps he now wishes to realise all his shares in Polo and is using Phronimos to try and recover some if his investment.
I guess that he paid in excess of 10pps in 2014.
My previous posts should show that I am not a great fan of M Tang, but on the basis that he bought into Hibiscus which appears to be the only worthwhile short/medium term Polo investment, I hope that he stands his
ground.
Notwithstanding he should greatly reduce his personal takeout from Polo.

[jamesss1] 14/3/2019 14:25

Dont you worry about that my friend I may only have 30k in the game put every penny was earned;)
TANG DOESNT GIVE A TOSS.

[millerman1] 14/3/2019 14:03

I do not know who Phronimos are, nor fully understand why they would want to get involved, but at the end of the day the current situation with Tang taking as much as he wants out of the company cannot continue, so I have emailed my support.

[stupidboypike] 14/3/2019 11:05

I have emailed my support - every little helps.

Best regards SBP