Polo Resources Share Discussion Threads

[glavey] 08/9/2019 03:25

Then maybe you should.

[jamesss1] 07/9/2019 11:20

If i could sh1t this out of my portfolio you know i would!

[glavey] 07/9/2019 05:10

Have you tried Bisacodyl?

[jamesss1] 06/9/2019 12:50

Hasnt moved all week...stitched right up

[glavey] 28/8/2019 05:51

Ah yes, I remember that 'deal'(s) now. I'm sure it's legal but it's messy.

[shawzie] 27/8/2019 16:07

If a subsidiary company (Perfectus) holds shares in its parent company (Polo), can the directors of the parent company vote with the subsidiary's shareholding at a parent company meeting?
Is it legal for a subsidiary to hold shares in a parent company?

[shawzie] 25/8/2019 15:43

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.

[shawzie] 25/8/2019 15:43

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.

[shawzie] 25/8/2019 15:37

HOLDINGs IN COMPANY - CORRECTION

The announcement dated 19 November 2015 (Polo increases direct interest in Blackham Resources) incorrectly gave Perfectus Management Ltd.'s resultant shareholding in Polo's enlarged issued share capital as 10.92 per cent. The interest should have read 10.71 per cent.

[shawzie] 24/8/2019 15:58

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."

[shawzie] 24/8/2019 15:31

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."

[shawzie] 24/8/2019 12:50

Perfectus Management Limited is a 98% owned subsidiary of Polo Resources.
If you backtrack on news releases, you will find the Polo trail regarding their purchase of Perfectus.

[xow98] 24/8/2019 10:12

hxxps://www.companiesintheuk.co.uk/company/perfectus-management/people

[glavey] 24/8/2019 01:22

Q. Who are: Perfectus Management Ltd 10.37% - ?
Ta.

[behuge] 23/8/2019 20:51

Let’s see what future brings snorky. Tang will not be satisfied with few millions (in salaries). He want GCM to be done and cash hundreds of millions.... he bought Polo resources for that reason

Ps corruption is all around the world, not only in Bangladesh 😜

[philjeans] 23/8/2019 12:23

Beginning to turn up - miles to go here now.

[alpal2] 23/8/2019 11:16

How many JV's has GCM got with the chinese?
The first one put the obligation to get government approval on GCM. They failed; as they have done for 10 years due to Bangladeshi corruption.
The more recent JV has joint responsibilty to get approval. Much more likely to succeed as the chinese are more versed in the ways of handing out 'brown envelopes'. But still taking an awfully long time.

[snorky123] 23/8/2019 08:34

I have read the history of GCM with the Chinese tie ups etc, but still think the history of corruption in Bangladesh etc still gives no clear path to success. Unlike you I have no faith in Tang, and I wish all holders of Polo good luck.

[behuge] 23/8/2019 08:22

GCM from the past and now is not the same snorky. Read the history before posting anything

[snorky123] 23/8/2019 07:47

If Tang had the interests of Polo first and foremost he would not have awarded himself an obscene salary ( for the size of Polo ) since he took over. Sadly his interest is Tang first and shareholders last, therefore even if GCM pays off, which seems unlikely given the past , I feel he will award himself more funds etc. He has done a good job sadly of running Polo into the ground.

[behuge] 22/8/2019 12:25

😴😴😴

[behuge] 22/8/2019 11:07

Exactly what i am saying since months. GCM or nothing

[jamesss1] 22/8/2019 10:54

Totally agree 888 thats exactly as it is.
GCM or nothing.