Polo Resources Share Discussion Threads

[johnnyrambo1] 14/8/2020 13:47

As i said before polo soon private??!!!

A real possibility and shareholders will be crying like a baby....

[cfb2] 14/8/2020 13:30

Saying you are taking legal action and actually doing it are two different things.

A lot could be cleared up by providing details of Dyani, including directors. Anyone who isn't on the board of these companies could be forgiven thinking that Polo are hiding behind the lapse governance, especially with the departure of the second nomad.

To an outsider it looks like they wanted to take the company private as cheaply as possible having reimbursed themselves of their original investment via excessive remuneration.

You could understand why an investor might be upset.

[johnnyrambo1] 14/8/2020 13:20

I will be really curious which legal action they can/will take against Phronimos!!

[johnnyrambo1] 14/8/2020 13:15

What did you expect? Them saying they have done wrong???

[888icb] 14/8/2020 11:09

Polo have categorically refuted and denied all allegation of impropriety or wrong-doing implied by Phronimos and it’s principal. Which part of that don’t you understand.
They say it’s very easy to simply deny false information broadly. It is also very easy to make allegations. The point is that the person making the allegations needs to be able to prove they are true. It is not for the company to explain why they are false without evidence to support them. Making false allegations can be dealt with at law such as libel. Polo have said they were taking legal action which is what you would expect them to do.

[johnnyrambo1] 14/8/2020 10:03

So true

mcco
Posts: 605
Price: 1.23
Hold
RE: Questions for the reconvened AGMToday 09:06
It would be informative to detail what the “false information’ was and then correct it. It’s very easy simply to deny false information broadly
Of course they will hide behind the sub judice rule to deny us such information
It would also be interesting to know if a statement of claim has been issued, a defence filed and an estimate of when it is likely that the case will be heard. I would have a suspicion that if any writ has been issued it would be a gagging writ to prevent any further discussion
I also wonder if the jailing of the ex prime minister will have any influence on providing information to its shareholders. Did the outgoing NOMAD give any reason why it’s resigning?

[johnnyrambo1] 14/8/2020 09:12

Private soon??

[russman] 14/8/2020 07:01

Today I am trying to estimate Polo's current total investment in GCM:
Loan notes 3.5m STG
After the Dyani transaction, 29.8% equity.
Best guess for current equity = 30% of £20m (mcap) = 6m STG

[johnnyrambo1] 13/8/2020 22:13

Take your night pill 888FT tomorrow friday news....😂
28514;😂313;🤡㊃3;🤡

[888icb] 13/8/2020 22:08

Apf rambo apparently doesn’t need to post on GCM or Polo anymore. He has never needed to post on anything so is the statement that he doesn’t need to post an actual assurance that he won’t in any of his numerous identities?

[johnnyrambo1] 13/8/2020 21:45

Of course Dattels and Mellon did very well getting out of this

[badger010776] 13/8/2020 21:18

dattel's did well getting rid of this at the right time (40p!!) shame it brought about the start of the tang dynasty & our company being milked to a long drawn out death. Hopefully he gets some serious karma in future ...

[apfindley] 13/8/2020 21:12

Well it cost me 11 dollars to find out the info and 20 mins of searches to piece a couple things together. I know all I needed to know.Good luck everyone with your future investments. I dont need to post on polo or gcm anymore.

[russman] 13/8/2020 18:57

If Polo was to call in its GCM loan & precipitate administration.
That would be a big write off for all GCM equity shareholders.
That would also be the end of Tang as a Director in the UK.
Tang will maintain GCM's listing.
So Tang gives them another loan and takes it out as "expenses".

[johnnyrambo1] 13/8/2020 17:18

Polo YTD return -70.00%


Absolutely amazing

[spights] 13/8/2020 17:13

Smoking gun and what might that be?

[johnnyrambo1] 13/8/2020 17:05

Which false information???????????

[888icb] 13/8/2020 17:05

In response to suggestions from the usual suspects that Polo is worth nothing let’s see what Phronimos think it’s worth:
So looking on Phronimos website (if you can call it that) see correspondence below which at the time they thought we could get 10-12p per shareholder , see the doc for full details, so they too have seen significant value here way over the share price.
'Extract below'
Return capital to shareholders via a tender offer at 12p per share
The persistently large discount of Polo’s stock price to net asset value precludes shareholders from
realizing anything remotely close to its fair value through open-market transactions. Consequently,
we believe the next logical step to protect and unlock shareholder value entails a tender offer at
12p per share. Funds for the return of capital can be sourced from a complete or partial divestment
of Polo’s successful investment in publicly listed Hibiscus Petroleum, which is currently worth
roughly two times Polo’s market value. For instance, the sale of a mere one-third of Polo’s stake in
Hibiscus at current prices would allow the company to repurchase 20% of the shares outstanding at
12p—a price that should be accretive to NAV (currently 15.5p) while simultaneously rewarding
shareholders with a buyback at a roughly 200% premium to Polo’s current stock price. We believe
there will be broad shareholder support for a significant voluntary cash tender offer or buyback.
Should the significant gap between market price and NAV persist, additional capital should be
returned to shareholders in the near term via buybacks, tenders offers, or in-specie distributions of
Hibiscus shares.
So the people attacking Tang think it is worth 10p to 12p per share.

[888icb] 13/8/2020 17:00

Some useful reminders that have been posted on the other board. Firstly the response to the allegations from Sam John and Phronimos:
From 21st Feb 2020 RNS.
The Board advises that false information has been disseminated by Phronimos Capital LLC ("Phronimos") and its principal, Mr. Sam John. In particular, the Company categorically refutes all allegations of impropriety or wrongdoing implied by Phronimos and its principal relating to the transaction announced on 6 February 2020 involving the Company's subsidiary, Polo Investments Limited, and Dyani Corporation Limited, and reserve all rights in regard to this matter. The Board is seeking legal redress against Phronimos and Mr. Sam John to protect the interests of the Company.
All allegations refuted and legal action to be taken.

[apfindley] 13/8/2020 16:46

Also today I found the smoking gun that links a certain known person to the owner of Dyani corp. Its all there is dyani's history. I'm now more certain than ever that my thoughts about ownership(link) could now be proven correct.

[apfindley] 13/8/2020 16:42

Exactly polo doesn't need a listing. It can still own a huge slice of gcm shares, or own the assets of gcm if polo calls in their loan notes.

[johnnyrambo1] 13/8/2020 14:23

12 years of BS 888 is not enough for you. Having seen the price plummeted month after month, year after year???

[888icb] 13/8/2020 14:19

Oh no it doesn’t
As you have turned this bb into a pantomime

[johnnyrambo1] 13/8/2020 14:07

Once again share price says it all.