Polo Resources Share Discussion Threads

[johnnyrambo1] 01/8/2020 15:28

Once again leaving the boat.... Resignation of Nominated Adviser Fri, 31st Jul 2020 17:25 RNS Number : 8383U Polo Resources Limited 31 July 2020 This announcement contains inside information as defined in EU Regulation No. 596/2014 and with the publication of this announcement via a regulatory information service this information is now considered to be in the public domain. 31 July 2020 POLO RESOURCES LIMITED ("Polo" or the "Company") Resignation of Nominated Adviser Polo Resources Limited (AIM: POL), the multi-sector investment company with interests in oil, gold, coal, copper, phosphate, lithium, iron and vanadium, announces that Allenby Capital Limited ("Allenby Capital") have served notice to resign as the Company's nominated adviser. It has been mutually agreed between the Company and Allenby Capital that this resignation will become effective at the close of business on 31 August 2020. Pursuant to Rule 1 of the AIM Rules for Companies, if an AIM company ceases to have a nominated adviser, trading in its AIM securities will be suspended. Accordingly, if no appointment is made by 31 August 2020, the Company's shares will be suspended at 7.30 a.m. on 1 September 2020. If, within one month of that suspension the Company has failed to appoint a replacement nominated adviser, the admission of its AIM securities will be cancelled. The Company will endeavour to identify a nominated adviser to succeed Allenby Capital and shall update shareholders in due course. For further information, please contact: Polo Resources Limited - Kudzayi Denenga, Investor Relations [phone] Allenby Capital Limited (Nominated adviser & broker) - John Depasquale [phone] About the Company Polo Resources Limited is a multi-sector investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For complete details on Polo, please refer to: www.poloresources.com. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

[russman] 24/7/2020 05:25

Not sure why but PRISM came on my radar yesterday. Not really a significant investment.

[johnnyrambo1] 17/7/2020 14:46

Buys??? Means Someone is selling this gem.....

[glavey] 17/7/2020 01:34

"830000 of those were buys including a trade of 540000 at 2.02." Tut, you are letting your imagination get the better of you.

[888icb] 16/7/2020 00:55

A busy day today with volume of 1.2 million. 830000 of those were buys including a trade of 540000 at 2.02. It’s about time we had some news.

[johnnyrambo1] 07/7/2020 20:09

No news, and the clock is ticking. More money needed shortly !!??

[888icb] 07/7/2020 16:47

Bid 2.00p. The last trade of which you are usually so fond was a 10000 buy at 2.199p Closing price 2.06p. Not really worth bothering about with just 18000 traded. More activity at GCM where the volume was 298000. A late morning 100000 sell took the share price briefly below 14p but it then recovered in small steps to close just 2% down at 14.75p.

[russman] 07/7/2020 09:08

I presume Polo's Board meetings are held at a time and location convenient to Tang. I assume there are Board meetings or maybe Tang's decisions are rubber stamped later. As no-one at Polo has a telephone or internet connection, it rather limits the supply of potential NEDs to recruit. Anyone know any potential "disabled" candidates, preferably with an MBA in mind-reading / smoke signals.

[johnnyrambo1] 06/7/2020 14:42

Amazing 5000 £ what a fortune😂8514;

[888icb] 06/7/2020 11:08

I suggest a visit to Specsavers as one trade was for 250000.

[johnnyrambo1] 06/7/2020 10:49

The best you have done. This is going nowhere for years and years You shouldn’t had a lots of shares as only two trades this morning for about 25’000 shares each or 500£. Best to use your money for a nice week end

[dekle] 06/7/2020 10:35

Fed up with this and sold today so I'm out

[russman] 06/7/2020 09:20

Polo BoD = Tang and 2 NEDs. Tang can & has done as suits his personal benefits. It is a travesty of corporate governance.

[russman] 05/7/2020 10:19

The Chairman of any company would wish to control his BoD. In Polo case, Tang would not want an outsider who disagreed with him. So Polo pays the NED salary; Tang uses shareholder capital as he wishes. There is no corporate governance to support minority shareholders.

[glavey] 05/7/2020 01:29

I always understood it was etiquette to post a credit when one plagiarises the writing of others. ;-) Let me help: hTTps://www.iod.com/news-campaigns/news/articles/What-is-the-role-of-the-NonExecutive-Director Now, back in the real world of AIM, BVI and such incongruities where chief and chair congeal at the seat...

[johnnyrambo1] 04/7/2020 17:05

And again more brown stuff from 888. Ten years of brown stuff

[888icb] 04/7/2020 14:18

You said Tang paid them. Make your mind up.

[johnnyrambo1] 04/7/2020 14:03

The shareholders with the coming increase of capital and the dividends paid by companies polo is invested in will pay him idiot

[888icb] 04/7/2020 11:52

Who recruits any NED in any company and who pays their salary?

[russman] 04/7/2020 11:30

& Tang recruited them. & Tang pays their salaries.

[888icb] 04/7/2020 10:32

Essentially the non-executive director's (NED) role is to provide a creative contribution to the board by providing independent oversight and constructive challenge to the executive directors. There is no legal distinction between executive and non-executive directors. As a consequence, in the UK unitary board structure, NEDs have the same legal duties, responsibilities and potential liabilities as their executive counterparts. Clearly, it is appreciated that NEDs cannot give the same continuous attention to the business of the company. However, it is important that they show the same commitment to its success as their executive colleagues. It follows that NEDs are subject to the codified duties of directors contained in the Companies Act 2006 in the same way as executive directors. Prior to accepting a non-executive appointment, the prospective appointee must ensure they have a comprehensive understanding of the company they are about to join and have undertaken their own due diligence. Once appointed an NED should ensure that an appropriate induction programme is put in place; they participate in on-going training and keep up to date with developments in the company and the relevant business sector. There has been a call for improved corporate governance at GCM and Polo and the usual way of achieving that is an independent NED. GCM have responded with a recent appointment. That job comes with duties,responsibilities and accountability under the Companies Act. If the NED does not do his job properly he is at legal risk and also risk to his reputation.

[johnnyrambo1] 04/7/2020 07:30

Cashing a salary is a job...