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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 0.0% 1.57 1.15 1.99 - 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -3.3 -1.1 - 6

Polo Resources Share Discussion Threads

Showing 16351 to 16373 of 17550 messages
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DateSubjectAuthorDiscuss
05/5/2020
23:33
I do agree that taking such large amounts of remuneration is not in the best interests of shareholders. As I said he should have drawn a much lower salary and been rewarded with share options related to the share price I accept that he does have a lot of shares which he bought from Dattels which have suffered the same loss as other shareholders. But it wasn’t open to other shareholders to take out large amounts of cash. If he wanted cash out he should have paid a dividend to all shareholders. It is in my view poor corporate governance to have allowed this high level of remuneration to Tang. When you talk of manipulation you need to be precise about what you are getting at. If someone is acting within the rules of company law then they are allowed to do so and that is done in the corporate world all the time even if we don’t like it. Tang has always been most interested in GCM which is essentially controlled by Polo and everyone has known that since he bought Dattels shares. If he pulls it off then that is Polo’s golden egg and will put everything right for Polo Shareholders. In trying to get GCM over the line he has been inventive using shares in place of cash they don’t have to remunerate the team he has put together to achieve the goal. He has subsequently used Polo shares to assist the cause which is arguable justified to assist one of its major assets. Tang’s reputation rests on success at GCM and my view is he should be allowed to play that out as we have risked so much to get to the point where submission is imminent. Tang stands to make a vast amount of money if GCM gets the green light and all shareholders will see a good return. Why risk it at this point and particularly as there is no clarity as to what the alternative is. Look at a lot of the worlds succesful business men and their attitude to corporate governance. If you succeed you are forgiven. It may not be right but it’s the real world.
888icb
05/5/2020
21:04
"The shares have for most of the time been at a very large discount to NAV and he should have addressed that." This is the principle point made by Phronimos. "I think the issue has been trying to get the green light for GCM which is obviously taking longer than anyone could imagine but is now closer than it’s ever been." It could also be as far away as it's ever been. "If he can get the green light for GCM he will to a large part redeem himself as long as he delivers a big increase in Polo’s share price and/or a large dividend." You can't have missed that Tang has already stated that there is no intention for any dividends. "Tang is responsible particularly as he has been paid so much. His remuneration should have been in shares so he was aligned with the shareholders." So you agree his actions are not in the interests of other shareholders? "I think the remuneration Tang has taken and continues to take is a disgrace in any event but particularly in view of the decline in the share price." You have also said you have serious concerns about corporate governance. So surely you can understand why it is not correct that Tang should manipulate things such that it enables him to have and maintain control over all stakeholders interests. If he had been seen to behave reasonably and responsibly we would not be having this conversation, would we?
glavey
05/5/2020
18:33
1.66p down again Oil booming, hibiscus up, Polo down what a great company
1hido
05/5/2020
08:54
GCM move is a pure pump. No news to justify this. MM’s manip
1hido
05/5/2020
08:47
GCM is Tang's final throw of the dice. If Tang is voted out of Polo; his position at GCM would also be untenable.
russman
05/5/2020
08:33
I held onto my POL shares when Tang came on board as I hoped he could swing the GCM project. Sadly there have been many false dawns in GCM with the share price spiking up but then fizziling out. It would be great if the GCM move today did presage approval for the coal mining / power generation project. Here's hoping! I / we could all do with some good news.
alpal2
05/5/2020
08:16
GCM currently UP 31.5% and Hibiscus UP 6% which is a good start to the day for Polo.
888icb
04/5/2020
19:25
alpal24 May '20 - 10:42 - 16303 of 16317 shawzie: Did Ingalls / stirling drop below 3% due to share issue to dyani? Thanks alpal2 - I must be getting old.
shawzie
04/5/2020
18:00
Or 40p... 1.97P last traded price for a value of gbp 246.25. Amazing Date Time Trade Prc Volume Buy/Sell Bid Ask Value 04-May-20 16:18:37 1.97 12,500 Buy* 1.66 1.97 246.25
1hido
04/5/2020
17:43
Closed unchanged today on volume of 460000 with most showing as sells. However the last trade of the day (much loved by the person I have filtered but not posted by him today as there are no post close posts)was at 1.97p. Let’s see if some one pays 2p tomorrow!
888icb
04/5/2020
14:49
An RNS this afternoon giving an update issued by Hibiscus. It shows Hibiscus are acting prudently in the current difficult situation in oil prices. It also updates on how they are dealing with Covid 19. Again they are taking all appropriate measures but as an essential industry they are continuing to produce and receive income. They have agreed to forward sell oil so they have a market and a confirmed price during this year.
888icb
04/5/2020
14:05
I have said on a number of occasions that I think the remuneration Tang has taken and continues to take is a disgrace in any event but particularly in view of the decline in the share price. The shares have for most of the time been at a very large discount to NAV and he should have addressed that. I think the issue has been trying to get the green light for GCM which is obviously taking longer than anyone could imagine but is now closer than it’s ever been. So my concern with attempts to remove Tang now is would we be shooting ourselves in the foot in relation to GCM where Tang has been the driver and it’s been his reason for wanting Polo? If he can get the green light for GCM he will to a large part redeem himself as long as he delivers a big increase in Polo’s share price and/or a large dividend. So your contention that the large drop in the share price constitutes destruction of shareholder value is correct in relation to the share price ( even though the NAV has been much higher we can’t realise it as no dividends have been paid). Tang is responsible particularly as he has been paid so much. His remuneration should have been in shares so he was aligned with the shareholders.
888icb
04/5/2020
13:36
for 888 40p to 1.72p is positive!! Beautiful company and wonderful management
1hido
04/5/2020
12:43
888: The sale in 2019 validates 'liquidating' his position. Share price now so low, due to Tang, that it's not worth selling. When / if we get reconstituted AGM it will be interesting to see how the voting goes. How much lower would the share price have to be for you to vote against Tang's re-election? My contention is that a drop in the share price from 36p to under 2p constitutes "destruction of shareholder value"; and I hold Tang responsible. If Tang's not responsible, why is he getting $1m pa?
alpal2
04/5/2020
11:31
Alpal2 thanks for that information. The reduction in his holding to 4.3% as you say was in February 2019. It was unchanged in January 2020 and it would appear that his percentage has only dropped recently due to the new shares issued to Dyani. So there is no actual evidence that he has sold any shares since February 2019 which casts a lot of doubt on a claim that he is trying to liquidate.
888icb
04/5/2020
11:08
How can 888 still believe in this is beyond me
1hido
04/5/2020
10:48
888: Greenwood: When you hold a notifiable percentage of POL 5.2% and sell down to 4.3%; now down to 3.5% it does not demonstrate great confidence in the CEO. See TR-1 notification 5-Feb-2019. At that time price was around 4p; now less than half of that. Looks like attempt at liquidation to me.
alpal2
04/5/2020
10:33
Dyani cannot vote their new shares at the next AGM. Dyani is presumed to be a related party but no info. disclosed to date. Obvious conflict of interest if Perfectus shares are used to support Tang.
russman
04/5/2020
10:32
Surely because they have a feeling that this is going nowhere but down. What is the basis of your statement supporting this losing company?? Meantime -10% on gcm at 12.65p and 1.73p For polo down 4.16%
1hido
04/5/2020
10:20
What is the basis of your statement that Greenwood is trying to liquidate?
888icb
04/5/2020
09:42
shawzie: Did Ingalls / stirling drop below 3% due to share issue to dyani? Since Greenwood was trying to liquidate, I suspect that he will not be a supporter of 're-elect Tang'.
alpal2
04/5/2020
09:22
In January I posted the following ; Mettiz Capital Ltd 12.58% Perfectus Management Ltd 10.37% Armstrong Investments Ltd 5.13% Nicholas Greenwood 4.33% Ingalls & Snyder LLC 3.29% Stirling Enterprise Ltd 3.15% I cannot remember seeing any notice about disposal of shares for Ingalls & Snyder and Stirling Enterprises to take them below 3.00%. Anyone know?
shawzie
03/5/2020
17:37
With a few more incestuous deals, M Tang will soon have a majority vote. Name Percentage of Issued Share Capital Dyani Corporation Ltd 18.81% Mettiz Capital Ltd (a) 10.21% Perfectus Management Ltd (b) 8.42% Armstrong Investments Ltd 4.17% Nicholas Greenwood 3.52% Percentage of shares not in public hands The percentage of the Company's shares not in public hands is 18.63%. Notes: (a) Mettiz Capital Ltd is controlled by Michael Tang and (b) Perfectus Management Ltd is 98% owned by Polo and 2% by Mettiz Capital Ltd.
shawzie
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