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POL Polo Resources Limited

1.57
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Polo Resources Limited LSE:POL London Ordinary Share VGG6844A1158 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.57 1.15 1.99 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Polo Resources Share Discussion Threads

Showing 16226 to 16244 of 17800 messages
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DateSubjectAuthorDiscuss
18/4/2020
21:43
His photo is below. Micheal Tang
spights
18/4/2020
21:40
www.pressreader.com/malaysia/malaysia-tatler-society/20160120/281977491615469
spights
18/4/2020
21:24
hxxps://www.pressreader.com/malaysia/malaysia-tatler-society/20160120/281977491615469
spights
18/4/2020
19:13
888CIB=Tang's own propaganda puppet. Nothing more, nothing less. Despicable ,dishonest, deluded. Apply Filters accordingly!
chevalierdaven
18/4/2020
17:59
So Mettiz bought another 3m Hibiscus in March.
Tang controls 139m shares now.

russman
18/4/2020
17:28
Not convinced uk-china relations will remain positive....but no worries Tang is a barrister...winning millions every year for 7 years now...😂€514;
solhuge
18/4/2020
17:24
So Tang never worked as a Barrister in London.
Maybe his luck has deserted him.
Seems to have invested in a lot duds recently.
The GCM deal appears to be a high risk gamble or a last throw of the dice.

russman
18/4/2020
15:22
888: Can't believe you're a fan of Tang. I continued to hold when Tang bought in from Dattels because he "is a successful lawyer and businessman with an impressive track record". The more fool me. Strange that you only refer to the investment in Hibiscus; please enlighten me as to Tang's 'success' with anything else in the Polo stable. I don't know at what price you bought in to be so happy with Tang's performance but my POL shares are down over 90%.
alpal2
18/4/2020
14:51
Dattels and Mellon said coal is finished....

Tang bought at 40p now 2p....divided by 20. What a good perf...

But meantimes he cashed massive salary....

solhuge
18/4/2020
14:21
8881CB
They have not done their research
I have filtered the .....
Have a great weekend
Maureen🌹 7801;🌹Ӿ01;

spights
18/4/2020
14:02
Thank you for posting that information on Tang. The people who attack Tang on here and GCM should appreciate that Tang is a successful lawyer and businessman with an impressive track record. The Hibiscus investment he made has been very profitable. He bought his Polo shares from Dattels because he believes in GCM which is a very longstanding Polo investment. Success at GCM will totally transform the value and the share price of Polo and Tang is very important to that endeavour.
888icb
18/4/2020
13:16
Some history on Tang
spights
18/4/2020
13:15
KUALA LUMPUR: Hibiscus Petroleum Bhd announced yesterday that it had secured London Stock Exchange’s AIM-listed Polo Resources Ltd as a new substantial shareholder, with an 8.4% stake.

In a statement to Bursa Malaysia, Hibiscus said it had entered into a share placement agreement with Polo. Under the deal, Hibiscus issued 90 million new shares at 23.5 sen each to Polo, which invests in mining assets.

“Although the oil and gas (O&G) industry is languishing in an environment of oversupply and low prices, Hibiscus is on track to generate positive cash flows and grow its high-quality asset base. We are very excited about the prospects of our investment in Hibiscus,” Polo executive chairman Datuk Michael Tang Vee Mun said.

Tang, 42, qualified as a barrister in London and holds a Bachelor of Laws degree from the London School of Economics and Political Science. He was formerly with legal firm Shearn Delamore & Co from 2001 to 2004, and was the youngest partner ever in the firm’s history.

In April 2006, he emerged as a substantial shareholder of QSR Brands Bhd — which owned KFC Holdings (M) Bhd — with 18 million shares or about a 7.5% stake, held via his vehicle, British Virgin Islands-registered Giganite Ltd.

Tang upped his stake to as high as 29.7 million shares or 12.2% in December 2006, and ceased to be a substantial shareholder of QSR in June 2009, after slowly disposing of his stake.

Market talk then was that a tussle was brewing between parties aligned to Datuk Soh Chee Wen and another faction close to Datuk Ishak Ismail for control of QSR’s cash cow, KFC Holdings.

Tang was also involved in quite a few large deals, namely the acquisition of Nanyang Press Holdings Bhd by Huaren Holdings Sdn Bhd back in 2001, and the injection of Mid Valley Megamall held under Mid Valley City Sdn Bhd into Kriss Components Bhd (since renamed Kriss Assets Bhd) in 2003.

Interestingly, he was also a shareholder of Single Malt Sdn Bhd, a company involved in the sale of single malt whisky. His partner in this business was Datuk Ling Hee Leong, son of former MCA chieftain Tun Dr Ling Liong Sik.

Tang is also an independent non-executive director of Tropicana Corp Bhd; he was appointed to the board on Nov 13, 2009.

More recently, he founded Mettiz Capital Ltd, an investment company with a 14.55% stake as at June 30, 2014 in Polo.

Tang took over the helm of Polo back in mid-2013. In the financial year ended June 30, 2014 — the first financial year under his purview — the company’s loss widened to US$19.01 million from US$16.2 million the year before.

According to Hibiscus’ statement, Polo invests in O&G, coal, gold, iron ore, copper and phosphate projects.

The 90 million Hibiscus shares placed out to Polo forms a portion of Hibiscus’ private placement exercise.

Hibiscus had earlier proposed to place out up to 326.94 million new shares or 25% of its enlarged issued and paid-up share capital.

On Aug 6 this year, Hibiscus announced that it is acquiring a 50% stake in Shell UK Ltd, Shell EP Offshore Ventures Ltd, and Esso Exploration and Production UK Ltd in the Anasuria Cluster of O&G fields for US$52.5 million.

Together with Ping Petroleum Ltd, which is acquiring the remaining 50% interest, it has jointly entered into conditional sale and purchase agreements for the said purchase.

According to the joint statement, the Anasuria Cluster is located 175km east of Aberdeen in the UK Central North Sea, and comprises a 100% interest in three producing fields, namely Teal, Teal South and Guillemot A, and a 38.65% stake in the Cook oilfield, together with the related field facilities. The assets have a proven and producing resource base which provides a platform for further development.

Hibiscus, which was originally an O&G special-purpose acquisition company, graduated from the category on May 16, 2012, after it completed its qualifying acquisition to buy a 35% stake in Lime Petroleum plc for RM165 million. Lime Petroleum is an early-exploration outfit and owns three oil exploration concessions in the Middle East.

Subsequently, Hibiscus (fundamental: 1.55; valuation: 0.9) also managed to close several deals, which expanded its presence to as far as Norway.

However, the independent O&G exploration and production company had been incurring losses for six consecutive quarters since the first quarter ended March 31, 2014, before it turned profitable in the first quarter ended Sept 30, 2015 on gains from foreign exchange due to the appreciation of the US dollar against the ringgit.

Year to date, Hibiscus’ share price has plunged 72.41% to close at 24 sen yesterday, with a market capitalisation of RM240.3 million.

spights
18/4/2020
13:14
Old
But a good read about Micheal Tang

spights
18/4/2020
13:09
Glavey
As you can see just from this mornings comments there are always people appearing on this bb to be critical and negative about Polo. Spights has very kindly dealt with the Barrister point. We have our resident moron who spends most of his time on the GCM bb but comes on here every day with the sole intent of presenting Polo in a bad light.
I believe Polo is worth a lot more than its current share price and would like this value to be realised for shareholders. If people are going to invest which is what will push the share price up they need to believe in the company. This is not helped by constant negativity.
I make no apologies for presenting Polo in a positive way because I believe the positives outweigh the negative and there are more than enough people being negative. If Tang can succeed with GCM, which he has put a lot of effort into then we will see a dramatic change in the share price of Polo.

888icb
18/4/2020
12:50
hxxps://www.klsescreener.com/v2/announcements/view/3090700
spights
18/4/2020
12:44
Datuk

(in Malaysia) a title of respect.

spights
18/4/2020
12:43
In front of his name is Datuk
spights
18/4/2020
12:33
hxxps://gb.wallmine.com/lse/pol/officer/1814214/vee-mun-tang
spights
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