Polo Resources Share Price (POL)

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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 Shares Traded Last Trade
  0.00 0.0% 1.57 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
1.15 1.99
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -3.30 -1.06 6
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.57 GBX
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Rio Tinto (RIO), Bhp (BHP), Mila Resources (MILA), African Battery Metals (ABM)

Polo Resources (POL) Latest News

Polo Resources News

Date Time Source Headline
02/10/202006:00UKREGAIM Cancellation - Polo Resources Limited
29/9/202016:30UKREGFTSE Russell Polo Resources
29/9/202013:06ALNCIN BRIEF: Polo Resources To Be Delisted As It Fails To Appoint Adviser
29/9/202008:05UKREGPolo Resources Limited AIM Delisting
28/9/202012:30UKREGGCM Resources PLC Holding(s) in Company
11/9/202018:34ALNCIN BRIEF: Polo Resources Investee Regains Phosphate Asset Stake
11/9/202011:51UKREGPolo Resources Limited Celamin Holdings Ltd - Investment Update
09/9/202017:08ALNCIN BRIEF: Polo Resources Investee Hibiscus Raises Funds
09/9/202011:24UKREGPolo Resources Limited Portfolio Update
03/9/202016:53ALNCUK Oil & Gas Firms Win Several Licences In 32nd UKCS Licensing Round
More Polo Resources News
Polo Resources Investors    Polo Resources Takeover Rumours

Polo Resources (POL) Discussions and Chat

Polo Resources Forums and Chat

Date Time Title Posts
13/2/202108:45POLO RESOURCES17,515
20/8/201911:09FORGIVE ME IF I AM BEING STUPID BUT ...........17
23/3/201619:00Ban cadbury-
05/3/201517:02get your snout in this trough.5
18/9/201410:29please god make jocks vote YES!-

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Polo Resources (POL) Top Chat Posts

DateSubject
07/3/2021
08:20		Polo Resources Daily Update: Polo Resources Limited is listed in the Mining sector of the London Stock Exchange with ticker POL. The last closing price for Polo Resources was 1.57p.
Polo Resources Limited has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 2.77p while the 1 year low share price is currently 1p.
There are currently 356,156,946 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Polo Resources Limited is £5,591,664.05.
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21/8/2020
10:28		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.
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15/8/2020
11:26		spights: f you subtract 98% of the shares owned by Perfectis, Polo effectively have 352.3 If you subtract 98% of the shares owned by Perfectis, Polo effectively have 352.3 million shares in issue. At the last traded price of 1.162p, that's an effective market cap of £4,090,427. At GCM's last traded price of 13p, Polo own GCM shares with a market value of £4,367,434. (106.77% of Polo's effective market cap). Polo's last reported cash position of USD10.3m on 20 March 2020 at current exchange rate, would be GBP7.87m. (192.40% of Polo's effective market cap). Current value of Polo's Hibiscus shares is GBP15.186m (371.27% of Polo's effective market cap)
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13/8/2020
16:05		888icb: 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.
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11/8/2020
19:52		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
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03/8/2020
09:56		888icb: I do not think it is in the best interests of the company and its shareholders for Polo and Tang to be continually attacked on this bb. How does that help our investments by allowing it to be portrayed to potential investors and existing investors as a basket case. We will never get the share price to rise unless we bring in new investors. Polo has some good investments and continues to trade a a large discount to NAV which is as disappointing to me as I am sure it is to other investors. I have said many times that I do not think Tang is without his faults and in particular I think the level of remuneration he has taken from Polo is excessive and not justifiable in any event but particularly in view of the decline in the share price However Hibiscus is a good investment and it is not Tang’s fault that there has been a global oil price crisis. He has also put great efforts into bringing GCM to a successful conclusion for approval of Phulbari. If that succeeds Polo’s fortunes will be restored as will its share price. He has done a good job of taking it forward without having to raise cash. The consultants have been paid in shares so if they don’t succeed they have effectively been working for nothing. It demonstrates their confidence in success. The end game with GCM would appear to be close but has been slightly delayed due to COVID. I just don’t think it is in anyone’s best interest to try to remove Tang at this point in time and risk destabilising GCM. The people trying to remove him do not have a plan that has been disclosed to anyone as to what would happen if Tang was removed. We need people to be constructive in their comments not destructive.
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01/8/2020
14:28		johnnyrambo1: 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 +27 (0) 787 312 919 Allenby Capital Limited (Nominated adviser & broker) - John Depasquale +44 (0)20 3328 5657 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 rns@lseg.com or visit www.rns.com.
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05/5/2020
23:33		888icb: 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.
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04/5/2020
14:05		888icb: 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.
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18/4/2020
13:15		spights: 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.
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08/4/2020
23:05		888icb: The point of using today’s mark to market is simply to demonstrate how undervalued Polo is on its current market cap but also the potential of GCM to make a massive difference to Polo’s value. Obviously I am fully aware of GCM’s past volatility but also that volatility occurs at times when investors sense the green light may be close. Polo’s RNS yesterday indicates that Tang, Polo and Dyani are very confident that GCM is close to the green light as there seems no other explanation for their actions. People have read the RNS and can form their own view. Today’s share price rise suggests a number of investors are inclined to that view. The coming days and weeks will be interesting as the prize for success is many multiples of today’s share price for both GCM and Polo. I am not impressed with the corporate governance at Polo but in reality there is little that can be done about it and you have to factor that in to whether you want to invest. My view is that Tang is important to GCM succeeding and if it does succeed the rewards will be at such a level they will more than compensate for the dilution.
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