Polo Resources Limited

0.00 (0.0%)
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 Shares Traded Last Trade
  0.00 0.0% 1.57 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
1.15 1.99
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.57 GBX

Polo Resources (POL) Latest News

Real-Time news about Polo Resources Limited (London Stock Exchange): 0 recent articles

Polo Resources (POL) Discussions and Chat

Polo Resources Forums and Chat

Date Time Title Posts
11/5/202309:31POLO RESOURCES17,743
20/8/201912:09FORGIVE ME IF I AM BEING STUPID BUT ...........17
05/3/201517:02get your snout in this trough.5
18/9/201411:29please god make jocks vote YES!-
17/7/201404:16The MINT is about to come out of the hole POLO4

Add a New Thread

Polo Resources (POL) Most Recent Trades

No Trades
Trade Time Trade Price Trade Size Trade Value Trade Type

Polo Resources (POL) Top Chat Posts

Top Posts
Posted at 13/1/2023 23:42 by alpal2
Please ask chairman or Tang all the questions that will embarrass him over his appalling management of Polo.
Inter alia:
1] Is Tang drawing a salary [or management fee] when the share price has collapsed from 36p to Nil under his management? How can any remuneration be justified?
2] Is there any way to appoint an independent director who would be responsible to shareholders [other than Tang]?
3] Will Tang resign as a director or manager due to his manifest incompetence?
4] Do the directors have any intention of taking action to benefit ALL shareholders. If so, why have they not done so.

Posted at 22/12/2022 13:23 by yells2
The ShareSoc are covering POL in their latest newsletter--


Posted at 22/12/2022 13:07 by yells2
Hi guys- Ive been in touch with The Share Society (Cliff Weight) and he has usefully given me contact details for someone at the FCA who may be in a position to looking into why POL havent been updating their website as promised when they delisted. We are still shareholders and the Hibiscus holding alone makes this worth a decent amount to all holders, its just that we have no up to date info on POL or method of dealing in the shares either. So please contact- Yvonka.Hurtado@fca.org.uk and copy to - miumailbox@fca.org.uk plus- cliff.weight@sharesoc.org with your concerns and they will hopefully get back to us when they have tracked down the current directors and put our points to them. Feel free to share this.
Posted at 25/10/2022 13:33 by jb777
Anyone else had their pol investment pop back into portfolio? Showing as 0p of course but wasn't even there before.
Posted at 13/8/2022 12:06 by bedbel
Indeed, a visit to the next GCM agm is the first and easiest step to take.
Let's all go there, probably in january. Time enough to buy a gcm share but better wait a while because you never know it will be delisted before then.

Posted at 24/6/2022 06:05 by glavey
11. Payables

2021 2020
GBP000 GBP000

Trade payables 579 527
Related party accrued payable 843 546

1,422 1,073
-------- --------

Refer to note 20 for details of the related party accrued payable.

12. Borrowings

2021 2020
GBP000 GBP000
Loan from related party
Balance as at 1 July 3,220 2,343
Loan instalments drawndown 600 600
Interest charges 383 277

Balance as at 30 June 4,203 3,220
-------- --------

Refer to note 20 for details of the loan from related party.

The Company on 26 March 2021, as part of the completed equity placing, extended and amended the terms of the loan facility provided by Polo Resources Limited (the "Facility") of which, as was announced on 7 January 2021, there is GBP300,000 of the initial GBP3.5 million facility remaining undrawn. The lender has agreed that it will not serve a repayment request on the Company for 5 years from the date of the agreement replacing the previous provision that it was payable on demand with 90 days' notice. The Company and Polo Resources Limited have agreed an increase in the interest rate from 12% to 15% per annum rising by 1.5% on the third anniversary and by a subsequent 1.5% on each anniversary thereafter. Furthermore, the lender may request conversion by the issuance of new ordinary shares in the Company at 7.5 pence per share (being the Issue Price) subject to any necessary regulatory approvals. The Company may elect to repay all or part of the outstanding loan at any time giving 60 days' notice and with the agreement of Polo Resources Limited. Any share issue to the Lender is conditional upon the Lender's interest, together with the interest of any parties with which it is in concert, remaining below 30% of the Company's issued capital. All other principal terms of the loan facility remain unchanged. Refer page 39 for details of Management judgement used in accounting for the loan amendment


Posted at 23/5/2022 08:32 by alpal2
The delisting has unfortunately left us with no way of knowing what tang is doing. POL has become much like a private company where the MD can do what he likes with no oversight. And no action we can take. Pol does not respond / reply to any emails.
Posted at 04/10/2021 12:42 by longjohnsilver1
Any news ? Hahahahah

Silence radio for almost 3 years

Phronimos Capital
Phronimos Urges Polo Resources to Return Capital
RNS Number : 8310P
Phronimos Capital, LLC
13 February 2019

Phronimos Capital Urges Polo Resources Limited to Return Capital to Shareholders

February 13, 2019--On January 28th, 2019, Phronimos Capital, LLC, ("Phronimos") acting on behalf of beneficial shareholders of Polo Resources Limited ("Polo" or the "Company") (LON: POL), transmitted a letter to the Board of Directors (the "Board") of the Company outlining several proposals that we believe will be beneficial to all shareholders. Clients of Phronimos and other concerned shareholders of Polo supportive of the proposals outlined in the letter (including a return of capital to shareholders via a tender offer at 10p-12p per share), currently hold approximately 14.0% of the total shares outstanding.

The full text of the letter can be found at: hxxp://www.phronimoscap.com/news

Posted at 21/8/2020 11:28 by 888icb
Your desperate attempts to paint Polo in a bad light become ever more pathetic particularly with regard to the share price. Everybody knows the share price is ridiculously low and bears no relationship to the true value of the NAV per share.
Why are you so pathetic as to try and suggest that the share price has fallen from 200p to 1p.
Yes the share price did spike to above 200p briefly in 2008 and the spike was from about 120p.
There was then a 10 for 1 split So any legitimate comparison with today’s share price has to take account of that such that 200p becomes 20p. So someone who bought on the spike effectively paid 20p or if someone took profit on the spike they received 20p.
Following the split Polo raised £80 million at 13p per share.
Interestingly when Phronimos started there campaign they suggested that Polo could buy back Polo shares at 12p per share. So not far off the price Polo raised that money in 2008 and since then Polo has issued 2 special dividends.
The share price is an issue but Polo itself is still a valuable company trading way below its NAV.
Success at GCM will return it to a much higher share price one would expect.

Posted at 11/8/2020 20:52 by spights
Read this
Investment Advisor Urges Polo Resources To Return Cash To Shareholders LONDON (Alliance News) - Phronimos Capital LLC on Wednesday said it wrote to Polo Resources Ltd ...
Alliance News13 February, 2019 | 9:26AM Email Form
LONDON (Alliance News) - Phronimos Capital LLC on Wednesday said it wrote to Polo Resources Ltd in January requesting a tender offer to return 10 to 12 pence per share to shareholders.
Shares in resources investor Polo were 16% higher on Wednesday at a price of 4.76 pence each. In early 2014, they stood much higher, at 20.63p.
Polo has stakes in gold, oil and gas, coal, iron ore, and phosphate projects across five continents.
The investment advisory firm wrote on January 28 to Polo on behalf of some of its clients who are Polo shareholders, with a 14% stake in total.
"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," said Phronimos.
"Consequently, we believe the next logical step to protect and unlock shareholder value entails a tender offer at 12 pence per share."
Phronimos said funds could be sourced from a sale of some or all of Polo's "successful" investment in Hibiscus Petroleum, with the entire stake double Polo's market capitalisation.
Selling one-third of the Hibiscus stake, the advisor continued, could allow Polo to buyback 20% of its shares at 12p, a significant premium to its current share price. It believes there would be widespread shareholder support for the move.
Phronimos does not dispute Polo's right to "generously" pay its leadership when they help create shareholder wealth, but it noted Polo's share price has fallen 80% over the past five years with no returns whatsoever.
Chair Michael Tang, it continued, has received around USD1 million a year, and his compensation through 2018 to 2020 is estimated to be 35% of Polo's market cap.
Phronimos lastly urged Polo to stop making new investments into resources explorers who cannot fund their capital expenditure needs.
"Phronimos has studied the returns of publicly traded natural resource companies across the globe from 2005 to 2018 and the results indicate shareholder returns from resource companies with assets producing free cash flow were more than quadruple their free-cash-flow-negative
counterparts," Phronimos said.
"This empirical study, combined with the anecdotal evidence from Polo's investments in the junior resource exploration companies that resulted in the aforementioned two-thirds decline in NAV since May 2013, leads us to conclude there are better alternatives to deploying capital in resource companies that lack the balance sheet wherewithal and near-term free-cash-flow generation to fund their capital expenditure needs."
A spokesperson for Polo Resources contacted by Alliance News didn't have an immediate response from the company

Polo Resources share price data is direct from the London Stock Exchange
Your Recent History
Polo Resou..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com

V: D: 20230527 23:32:41