Polo Resources Share Price (POL)

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
  0.045 2.59% 1.785 65,700 16:35:27
Bid Price Offer Price High Price Low Price Open Price
1.49 2.08 0.00 0.00 0.00
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
16:06:33 O 15,700 1.5137 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
30/3/202015:53ALNCPolo Resources Loss Widens In First Half, As Net Asset Value Drops
30/3/202010:39ALNCFAlliance News Flash Headline
30/3/202010:30UKREGPolo Resources Limited Interim Results for the Six Months Ended 31 Dec 19
11/3/202011:57ALNCPolo Resources Shares Drop As Hibiscus Says Guidance Revision Possible
11/3/202008:00UKREGPolo Resources Limited HIBISCUS PETROLEUM -- INVESTMENT UPDATE
26/2/202014:10ALNCPolo Resources's Hibiscus Reports Solid Second Quarter Results
26/2/202007:00UKREGPolo Resources Limited HIBISCUS PETROLEUM -- INVESTMENT UPDATE
21/2/202016:01UKREGPolo Resources Limited Update re admission of GCM Consideration Shares
21/2/202016:00UKREGPolo Resources Limited Adjourned AGM, Phronimos Capital and other matters
12/2/202007:45UKREGPolo Resources Limited Update re Admission of GCM Consideration Shares
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Polo Resources Takeover Rumours

Polo Resources (POL) Discussions and Chat

Polo Resources Forums and Chat

Date Time Title Posts
02/4/202015:11POLO RESOURCES16,008
20/8/201912:09FORGIVE ME IF I AM BEING STUPID BUT ...........17
23/3/201619:00Ban cadbury-
05/3/201517:02get your snout in this trough.5
18/9/201411:29please god make jocks vote YES!-

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Polo Resources (POL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
15:06:341.5115,700237.65O
08:56:411.8050,000900.00O
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Polo Resources (POL) Top Chat Posts

DateSubject
02/4/2020
09:20		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 1.74p.
Polo Resources Limited has a 4 week average price of 1.40p and a 12 week average price of 1.40p.
The 1 year high share price is 4.66p while the 1 year low share price is currently 1.40p.
There are currently 356,156,946 shares in issue and the average daily traded volume is 67,011 shares. The market capitalisation of Polo Resources Limited is £6,357,401.49.
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30/3/2020
20:41		shawzie: shawzie - 23 Dec 2019 - 23:22:44 - 15646 of 15992 POLO RESOURCES - POL 888ICB Perhaps you remember my post at the end of 2019. "A quick glance at the Polo Results for the year ended June 30 2019. 1. NAV per share as at December 13 2019 - a fall from 15p to 13p. I believe heading for NAV of 7p and would not be surprised if share price went back to between 2p or 3p. 2. Gain on fair value movement of financial investments 4,828 neatly covers Other loan provision of (4,180). It is doubtful that Polo will recover any outstanding loans to its investments such as GCM and redeemable note to Universal Coal which has been in default for some time."
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22/2/2020
08:08		glavey: "Never believe anything until it has been officially denied." I think Polo need to come clean regarding Dyani. Alliance News 18 May, 2017 | 5:43PM GCM Resources PLC on Thursday said it has signed a consultancy agreement with Dyani Corp Ltd... GCM said Dyani has provided "invaluable introduction, negotiation and advisory services" to the company since May last year on a "good faith basis" while terms of the consultancy agreement were being discussed. Under the consultancy agreement that will run to the end of June 2018, Dyani will procure a preliminary feasibility study on the proposed power plant at "no external cost to GCM", negotiate a final joint venture investment agreement for the plant, as well as an engineering, procurement, construction and commissioning contract. For the work completed since May 2016, Dyani will be issued with 3.9 million shares in GCM and a monthly retainer of GBP20,000 from the start of July 2016 that will be settled at shares issued at 20.0 pence each, a 43% premium to the share price before the memorandum of understanding was signed. Further shares will be issued to Dyani when certain milestones are reached. Dyani will get a "success fee" of a 5% stake in GCM once the preliminary feasibility study is complete, a further 5% once a framework EPCC contract has been agreed, an 8% stake once the final investment joint venture agreement is signed, and a further 5% once the framework EPCC is executed. Dyani will be limited to owning a 29.99% stake in the company. "The board is acutely aware of the potential dilution arising from the consulting agreement. As fees for services similar to those provided by the Consultant are typically based upon a percentage rate of the value of the underlying contract, and given that a 2,000 megawatt ultra super critical coal fired plant would cost in the region of USD4.00 billion, GCM does not have the resources to pay such fees in cash," said GCM. "The company is fortunate to have found an introducer and consultant of their calibre who is agreeable to be compensated with shares of the Company, recognizing a cash payment would be beyond the company's current ability to fund," GCM added. GCM issued 900,000 shares on Thursday to cover the retainer for the months between May 2016 and March 2017, and another 3.9 million shares to Dyani for the work performed to date. Given their stated duties, why would Dyani want to 'swap' their holdings in GCM for a position in Polo? Can there be any reason other than they would receive Polo shares at a substantial discount to NAV in exchange for a somewhat more speculative tranch in GCM? Thus why would Polo wish issue stock at such a discount to NAV just to take on an even greater position in something speculative? From Polo's point of view, given their more recent investment failings, doesn't that seem like having too many eggs? On top of that, there is the matter of the AGM carry on and the timing of this planned manoeuvre. If this were subject to a vote, would shareholders approve of this dilution and further investment in GCM? (If continued, maybe it should be added as special resolution.)
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12/2/2020
17:58		888icb: I am not Tang and have never met or corresponded with him. Although I would like his salary! I have on many occasions said that I think his salary is excessive and should be severely cut. I am a long term Polo shareholder who is well aware of the problems Dattels and Mellon had with GCM which they bought. Tang has taken up the mantle where they failed. He has put in a lot of effort and come up with a new strategy involving the Chinese and Bangladesh consultants. He knows how to operate in this part of the world. He has also had to deal with GCM being a company with no income which is always the case with companies like GCM at this stage in their development. It is normal to raise funds by issuing new shares. He has been very innovative in getting the consultants to take shares instead of cash which focuses them on ensuring the project succeeds. No success no money. If GCM succeeds the recent transactions in taking more GCM shares will creat massive value for Polo which will more than compensate for any dilution that was caused by paying with Polo shares. I wish Polo shares traded much closer to their NAV but they don’t and hence it is not realistic to expect Dyani to accept the NAV rather than the actual share price. It is easy to criticise but perhaps you can tell us how it should have been done and how that would have been achieved. We are where we are and we need Tang to deliver on GCM. It would be shooting ourselves in the foot if he doesn’t see it through when we are so close to getting a result.
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06/1/2020
18:46		888icb: Share Price Information for Polo Res. (POL) London Stock Exchange Share Price is delayed by 15 minutes Get Live Data Share Price: 4.12 Bid: 4.04Ask: 4.20 Change: 0.02 (0.49%) That’s the closing price pasted from the London Stock Exchange
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24/12/2019
13:50		alpal2: 888: If the value to Polo of Hibiscus is 7p then there is good reason to think NAV might drop to that. GCM and Celamin have been disasters for many years and [together with Nimini, Weatherly and Blackham] may well be valueless. Not sure if 'Humble Pie' will be on my diet in 2020 but, if I am wrong I shall be so pleased to eat it as I celebrate a higher POL share price.
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24/8/2019
15:58		shawzie: RNS Number : 2528G Polo Resources Limited 19 November 2015 19 Nov 2015 Polo Resources Limited ("Polo" or the "Company") polo increases DIrECT interest in blackham resources Polo Resources Limited (AIM: POL), the natural resources investment company with interests in gold, oil and gas, coal, iron ore, copper and phosphate, is pleased to announce an increase in its direct interest in Blackham Resources Limited ("Blackham") (ASX: BLK), an Australian gold exploration company listed on the Australian Stock Exchange. Polo has agreed to acquire 10,000,000 ordinary shares of Blackham for AUD$2.1 million (approximately GBP980,000) or AUD$0.21 per share, a 10.6 per cent discount from Blackham's closing share price on 18 November 2015, from Perfectus Management Ltd ("Perfectus") by way of issuing and allotting 25,016,484 new Polo ordinary shares at an agreed price of 3.92 pence per share to Perfectus, a 36.11 per cent premium to Polo's closing share price of 2.88p on 18 November 2015. Perfectus is a 49 per cent owned associate of Polo. Blackham had audited net assets of AUD$17.75 million as at 30 June 2015. The new shares will represent 8.28 per cent of Polo's enlarged issued share capital, bringing Perfectus' total holding in Polo to 10.92 per cent. Upon completion, Polo's undiluted interest in Blackham will increase from its current direct holding of 2.37 per cent to 7.36 per cent, resulting in a combined direct and indirect holding of 10.3 per cent, of which 8.8 per cent is attributable to Polo. Application will be made for the 25,016,484 new ordinary shares, which rank pari passu with Polo's existing issued ordinary shares, to be admitted to trading on AIM. Admission is expected to become effective on or around 24 November 2015, following which Polo's enlarged issued share capital will amount to 301,956,793 ordinary shares. The Company does not hold any ordinary shares in treasury. Datuk Michael Tang, Executive Chairman, commented: "Our increased interest in Blackham demonstrates confidence in the potential for this company to generate strong shareholder returns. "The recently released Pre-Feasibility Study for Blackham's Maltida Gold Project demonstrates robust economics and a relatively low capital requirement to reach production. Blackham's management team expects to complete the Definitive Feasibility Study by first Quarter 2016 and continues to add significant tonnages and grades to the gold inventory."
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24/8/2019
15:31		shawzie: Glavey - This could be your starting point :- RNS Number : 1654I Polo Resources Limited 28 May 2014 28 May 2014 Polo Resources Limited ("Polo" or the "Company") polo increases interest in blackham resources Polo Resources Limited (AIM: POL), the natural resources investment company with interests in gold, oil and gas, coal, iron ore and phosphate, is pleased to announce an agreement to increase its interest in Blackham Resources Limited ("Blackham") (ASX: BLK), an Australian gold exploration company listed on the Australian Stock Exchange. Polo has agreed to subscribe for 49 per cent of the enlarged capital of Perfectus Management Limited ("Perfectus"), which in turn owns 15,888,495 ordinary shares (or 15 per cent) of Blackham's issued fully paid ordinary share capital. In consideration the Company will pay AUD 1 million in cash and AUD 2 million by way of issuing and allotting 7,317,564 new ordinary shares at an agreed price of 15 pence per share to Perfectus, an 18 per cent premium to Polo's closing share price on 27 May 2014. The new shares will represent 2.64 per cent of Polo's enlarged issued share capital. Upon completion, Polo's undiluted interest in Blackham will increase from its current direct holding of 4.2 per cent to a combined direct and indirect holding of 11.85 per cent. In addition, the Company has the right to purchase a further 49 per cent of Perfectus within the next two years for AUD 3 million to be satisfied by the issue or transfer to the vendor of ordinary shares in Polo at an agreed price of 15 pence per share. Exercise of the option would increase Polo's interest in Blackham's current issued share capital to approximately 19.2 per cent. As part of the agreement a call option has also been placed on Polo's interest in Perfectus with an exercise price set at the higher of 49 per cent of the net asset value of Perfectus or AUD 4.5 million, representing a premium of at least 50 per cent to Polo's headline entry price. Application will be made for the 7,317,564 new ordinary shares, which rank pari passu with Polo's existing issued ordinary shares, to be admitted to trading on AIM. Admission is expected to become effective on, or around, 2 June 2014, following which Polo Resources' enlarged issued share capital will amount to 276,940,309 ordinary shares. Michael Tang, Executive Chairman, commented: "Our increased interest in Blackham demonstrates our confidence in the potential of its gold exploration assets and of its management to generate strong shareholder returns."
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11/4/2019
09:49		donkey15a: Received an e-mail from: sjohn@phronimoscap.com Dear Fellow Polo Resources Shareholder, Despite numerous attempts to resolve matters amicably, the Board and management of Polo Resources have not complied with our requests for: The shareholder register (which we have a statutory right to inspect under section 100 of the BVI Business Companies Act); An explanation regarding the appropriateness of Chairman Michael Tang’s ~$2 million annual total remuneration; and The time frame deemed necessary by the Board to evaluate any shareholder value unlocking proposals currently being contemplated. We firmly believe the underlying value in Polo is significantly higher than the current share price and that the stubborn adherence to the Board's current investment policy is detrimental to the interests of shareholders as a whole. The market’s lack of faith in the stated investment policy is evidenced by the greater than 70% discount of Polo’s share price to its Net Asset Value (“NAV”) per share. The persistently large discount of Polo’s share price to net asset value precludes shareholders from realizing anything remotely close to its fair value through open-market transactions. The status-quo, which has resulted in significant realized and unrealized losses for past and present shareholders of Polo, is unacceptable. We believe there will be broad shareholder support for a substantial cash distribution or share buyback if the proposal to return capital were put to a vote at a requisitioned meeting of the shareholders of Polo. Consequently, in preparation for requisitioning a shareholder meeting for a vote on our proposals (none of which are board control seeking) to unlock value via a significant buyback or distribution and improve corporate governance via the appointment of a shareholder representative to the Board, we'll need each concerned shareholder to provide us with confirmation of: the number of Polo Resources shares held and owned by you confirmation that you can exercise the voting rights on the above-mentioned shares (Yes Or No will suffice); and the name and address of the Broker and Nominee account in which the shares are actually held (if not in paper form). Please note that you will likely have to contact your account manager or liaison at your broker/custodian to obtain the name of the nominee/registered shareholder. Your written confirmation is critical to our efforts to requisition a shareholder meeting, so please make every effort to provide the requested information as soon as possible. If any aspect of this message is unclear, please feel free to call me. Thank you for your support. Best Regards, Sam John, CFA Managing Member Phronimos Capital, LLC sjohn@phronimoscap.com
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13/3/2019
21:35		st96dgx8: https://docs.google.com/a/phronimoscap.com/viewer?a=v&pid=sites&srcid=cGhyb25pbW9zY2FwLmNvbXx0M3N0aW4xfGd4OjU5YzI3MGQ1MGM2OGQ4Y2I Phronimos Urges Polo to Respond to Shareholder Requests and Concerns March 13, 2019—Subsequent to the publication of Phronimos Capital's (“Phronimos”) letter to the Board of Directors of Polo Resources (“Polo” or the “Company”), on February 13th, we have heard from numerous other Polo shareholders supportive of our cause and, consequently, the concerned shareholder group has grown significantly. We believe there will be broad shareholder support for a substantial cash distribution or share buyback if the proposal to return capital were put to a vote at a requisitioned meeting of the shareholders of Polo. Fellow Polo shareholders supportive of a significant share buyback or distribution are encouraged to contact us at sjohn@phronimoscap.com. Phronimos transmitted a follow-up letter to the Polo Board of Directors today. The full text of the letter can be found below or at: www.phronimoscap.com/news March 13, 2019 Polo Resources Limited Craigmuir Chambers, P O Box 71 Road Town, VG1110 British Virgin Islands To the Board of Directors: We are disappointed with Polo’s response to the proposals put forth in our letter dated January 28th, 2019. We write to you again so that the Board and the Company’s shareholders fully understand our viewpoint and the reasons for our concern. We firmly believe the underlying value in Polo is significantly higher than the current share price and that the stubborn adherence to the Board's current investment policy is detrimental to the interests of shareholders as a whole. The market’s lack of faith in the stated investment policy is evidenced by the greater than 70% discount of Polo’s share price to its Net Asset Value (“NAV”) per share. The persistently large discount of Polo’s share price to net asset value precludes shareholders from realizing anything remotely close to its fair value through open-market transactions. The status-quo, which has resulted in significant realized and unrealized losses for past and present shareholders of Polo, is unacceptable. Consequently, we request that the Board: 1. Provide fellow concerned shareholder Nicholas Greenwood with the register of members within five business days. As you are aware, Section 100 of the BVI Business Companies Act grants shareholders a statutory right to inspect and make copies of the register of members. The Company has denied Mr. Greenwood’s request to exercise his statutory right, citing “data privacy” concerns. The right to inspect shareholder lists for the purpose of communicating with shareholders with regards to a proper purpose, being in this case the exercise of shareholder rights in the form of gathering support for a potential requisition of a shareholder meeting, is enshrined in company law. We urge the Board to respect this right. 2. Provide an explanation and/or the remuneration committee minutes regarding the appropriateness of Chairman Michael Tang’s total compensation (including the 2018 share option grant of 20 million shares at a greater than 70% discount to NAV.) We note that Chairman Tang’s consulting fees of ~USD 1 million per year from Polo Resources and its investee company GCM Resources is many multiples above the norm. According to BDO’s AIM Directors Remuneration Report 2018, the median average total salary for CEOs of AIM constituents was approximately GBP 150,000. The QCA Remuneration Committee Guide for Small and Mid-Size Quoted Companies states: “Companies should communicate their decisions and supporting rationale clearly to shareholders and other stakeholders, most importantly through the report of the remuneration committee chairman. A company will face severe criticism if it rewards failure. Just as important is to ensure that mediocre performance is not rewarded as if it were good performance. It is fair that executives are offered the opportunity for higher levels of remuneration if they produce good results and excellent long-term sustainable value creation. Companies should avoid paying their executive directors more than is necessary to remunerate and motivate them. … No board should allow any executive director to be, or to consider himself or herself to be, irreplaceable: amongst other governance challenges that will inevitably arise, this may lead to demands for excessive remuneration.” Furthermore, we note that in 2018, the Company issued share based payments granting Chairman Tang the option to purchase 20,000,000 shares at a greater than 70% discount to NAV. We believe the valuation methodology chosen by the Company significantly understates the fair value of the grant. The choice of a particular valuation method to determine fair value is not “fair and reasonable” if it does not take into account information material to the value of the corporation. With regards to investment companies (like Polo) in particular, the Net Asset Value per share is of paramount importance in determining “fair value.” Had the NAV per share been used to determine the fair value of the share based payment, we calculate the value of the grant to be ~USD 2.9 million (or ~USD 1 million annually considering that the options vest in equal instalments over a three year period.) Summing up the 2018 consulting fees and the share based payments using NAV as the fair value in pricing the options, total annual compensation for Chairman Tang was approximately USD 2 million (or GBP 1.5 million.) Even if we were to exclude Chairman Tang’s ~USD 400,000 salary from Polo’s investee company, GCM Resources, his total annual compensation of approximately USD 1.6 million (or GBP 1.2 million) is significantly above the median average total remuneration of GBP 248,000 for CEOs of companies trading on the AIM (as cited in BDO’s AIM Directors Remuneration Report 2018). As we stated in our previous letter, we do not begrudge management teams being adequately compensated when they have helped to create shareholder value. However, Chairman Tang’s significantly above market compensation (approximately 5-6 times the median) stands in stark contrast to the historical returns of Polo’s shareholders, who have witnessed c.80% decline in the share price and received no dividends or return of capital since his appointment in May 2013. 3. Engage in a thoughtful dialogue regarding potential financing to help unlock value for shareholders. Subsequent to the publication of Phronimos’ letter to the Board of Directors on February 14th, we have heard from other Polo shareholders supportive of our proposals, and, consequently, the concerned shareholder group has grown significantly. Furthermore, we have also heard from other investors willing to provide non-dilutive financing to help unlock value for Polo shareholders. 4. Provide shareholders with the time frame deemed necessary by the Board to evaluate any shareholder value unlocking proposals currently being contemplated. We strongly urge the Board to respond to our requests and concerns without further delays. Sincerely, Sam John, CFA Managing Member of Phronimos Capital, LLC Investor Contact: Sam John (sjohn@phronimoscap.com/+1 (424) 781-7871/www.phronimoscap.com) SOURCE: Phronimos Capital, LLC Important Information This document sets out the views of Phronimos Capital, LLC (“Phronimos”). This document does not constitute a financial promotion of any kind by Phronimos or any affiliate, and the receipt of this document in no way renders you a client of Phronimos or any affiliate. The information contained in this document should not be construed as investment or tax advice, nor should it be construed as an invitation to purchase or sell any of your shares in Polo Resources Limited (“Polo” or the “Company”) (LON: POL). If you are in any doubt as to the action you should take, you should seek advice from an appropriately qualified independent financial or other adviser. The information contained in this document (which may include price or other data) is for illustrative purposes only and may not be comprehensive or up to date. In preparing this document, Phronimos has relied upon and assumed, without independent verification, the accuracy, reliability and completeness of all information available from public sources. No responsibility is accepted and no representations, undertakings or warranties are made or given, in either case expressly or impliedly, by Phronimos or any affiliate as to the reliability, accuracy, timeliness, completeness or fitness for a particular purpose of information contained in this document or as to the reasonableness of any assumptions on which any of the same is based. Additionally, neither Phronimos nor any affiliate accepts any direct or consequential liability for any errors in or reliance upon the contents of this document. Neither Phronimos nor any affiliate will be responsible for updating any information contained within this document and opinions and information contained herein are subject to change without notice. Certain figures included in this document have been subject to rounding adjustments. The release, publication or distribution of this document in jurisdictions other than the United Kingdom may be restricted under the laws of those jurisdictions and therefore persons into whose possession this document comes should inform themselves about and observe any such restrictions. Failure to comply with any such restrictions may constitute a violation of the securities laws of any such jurisdiction. Phronimos is not affiliated with Polo. However, as at the date of this document, clients of Phronimos hold a long position in shares of Polo. We acquired interests in the securities of the Company based on the belief that such securities, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to Phronimos, and the availability of securities of the Company at prices that would make the purchase or sale of such securities desirable, Phronimos may seek to increase or decrease its clients’ long position in the Company.
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20/2/2019
02:18		barnetpeter: LONDON (Alliance News) - Phronimos Capital LLC on Wednesday said it wrote to Polo Resources Ltd ... Alliance News13 February, 2019 | 9:26AMEmail 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. Copyright 2019 Alliance News Limited. All Rights Reserved.
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