Polymetal Share Discussion Threads

[geckotheglorious] 22/9/2022 09:18

Thanks for the colour Imastu and Zangdook.

Appreciated.
Skim read the RNS and wasnt sure how this impacted LSE holders.

[p@] 22/9/2022 09:12

I guess that this offer increases the number of shares available outside Russia,therefore share price dropping.

[loganair] 22/9/2022 08:48

Payment of dividends in the future will also depend on the ability to unblock shares which are currently held through the National Settlement Depositary (NSD), which the Company estimates to be, in aggregate, approximately 22% of the Company's issued share capital.

Until a solution is found, the Board is not minded to propose any corporate action or dividend in which such a sizeable proportion of the Company's shareholder base cannot participate.

[loganair] 22/9/2022 08:45

Possible transaction structures include, among others, "a potential re-domiciliation of the parent company, Polymetal International plc, to a "friendly" jurisdiction, a move which could unblock the ability to execute further corporate actions," the company said.

[zangdook] 22/9/2022 08:39

kaos3 - unless you hold your shares via a Russian nominee, the tender offer doesn't apply to you.

[kadvfn1] 22/9/2022 08:38

thank you for your reply Zangdook. Looks like my share in HL.com will be ok then :)

[meanreverter] 22/9/2022 08:34

“For Putin he is Liberating these areas and not invading”: One is reminded of another European leader who liberated “his” people in Austria, Sudetenland, eastern Prussia, Pomerania, and Silesia.

[kaos3] 22/9/2022 08:29

I am missing the legal consequences - why is it good or bad - if one exchanges the shares.

my naive mind says - do not exchange, because I ll get the real russian shares - which is the worst thing to have atm..


so why should I exchange - to increase my risk

what will happen to those who will not exchange is not discussed at all. lets say 8 % of the shares are not "real shares" - what is the plan?

It stinks...

[zangdook] 22/9/2022 08:18

5. How do I determine whether I am eligible for this tender offer?

Please refer to the shareholder circular and notice of General Meeting for more information.

In summary, eligible shareholders are those who hold shares in uncertificated form where the beneficial entitlement is recorded by book-entry by a custodian or nominee located in Russia whose own entitlement is either (i) through an account with NSD or (ii) indirectly held in Euroclear (other than through NSD) and who are (a) not resident in, incorporated in, established in, or citizens of, United States, Canada, Australia, South Africa and Japan (amongst others) and Russia which, with respect to individuals, includes citizens of Russia who have a second citizenship outside Russia; and (b) not subject to Sanctions and whose Custodian (ie the person through whom you hold the unсertificated shares) is not subject to Sanctions;

If you have bought your shares on LSE, AIX or hold ADRs of Polymetal (AUCOY, POYYF) it is likely that you are neither eligible nor impacted by the restrictions imposed on NSD.

Please contact your broker or an independent financial adviser if you are unsure about your eligibility
status.

[togglebrush] 22/9/2022 08:04

Answers may be found on the yet to be publised link

The Company has published FAQs on its website which can be found at: investors-and-media/shareholder-centre/general-meetings/

[kadvfn1] 22/9/2022 07:56

So for UK share holder we don't have to do anything or do we need to get paper certificate too? Any explanation is much appreciated

[togglebrush] 22/9/2022 07:41

FWIW My reading is that this is an offer to exchange shares on Russian exchanges for new shares issued outside Russia. When successfully complete they can give dividendS to existing and the "re issued" on an equal basis.

[imastu pidgitaswell] 22/9/2022 07:13

OK, not getting that - "The exchange offer invites shareholders whose rights have been affected by the sanctions imposed on NSD, subject to fulfilling eligibility criteria, to tender such shares for exchange in consideration for the issuance of a certificated share, on a one-for-one basis."

"Eligible shareholders who successfully participate in the exchange offer will regain the enjoyment of their rights in the Company, albeit where such rights are evidenced in certificated form. The certificated shares will have the same rights and ISIN as, and be fungible with, the Ordinary Shares in all respects, including ranking equally for dividends."

So Russian holders are being offered an exchange of current Ordinary shares for 'certificated' shares. Which - I'm presuming - allows dividends to be paid. But otherwise no difference? So not a disposal of Russian assets? If so, how does that work? What is a 'certificated' share?


More questions than answers, but need to know more.

(Results were done and dusted with the Q2 trading statement. Short version - a lot of net debt increase to $2.8bn tied up with increase in inventories - both metals to be sold in H2 and also spare parts, totalling some $0.7bn, $0.1bn for prepayments to suppliers (see note 15) - both of which should reverse in H2 - plus around $0.2bn from the movement in the rouble exchange rate. See also note 14 on fixed assets for the overall asset value increase in the balance sheet. The non-cash write-off is irrelevant. I'm not around today, so will follow up later)

[loganair] 21/9/2022 22:15

If Yeltsin had carried on, Russia would no longer exist and the oligarchs were selling out Russia into nothing which Putin put a stop to and helped Russia to develop in to one of the most promising countries today.

[loganair] 21/9/2022 21:40

For Putin, going into the East and South of Ukrainian he feels he is bringing the Russian Nation back to Russia.

Putin also feels responsible for the Russian speaking people in Ukraine.

Many in the West and posters on these thread seem to have very short memories, forgetting how in May 2014, 84 Russians were horrifically burnt to death in Odessa by the Bandera Ukrainians.

For Putin he is Liberating these areas and not invading.

[spacedust] 21/9/2022 21:20

Can anyone tell me what happened during the Cuban missile issue?

Why did USatansA shttt themselves because Russia was planning to place missiles in Cuba?

Hiw is this any different to Ukraine having missiles placed through Nato in Ukraine.

[masergt] 21/9/2022 19:40

"Incontrovertible facts ..." That's rubbish knocker.
1. Borders were not arbitrary, they were negotiated and agreed.
2. There was no threat, only a perceived fear by a little man losing his grip.
3. NATO is already on Russia's borders in the Baltic states. Has been for years.
4. If distance is the best defence then why reduce it by annexing the buffer zone?
5. Putin's unjustified aggression caused this humanitarian and economic disaster.
6. "Imaginative solutions, cf Ireland". 90 years later and still a festering sore.
7. "Compel Ukraine" to surrender to Russian imperialism?

Complete rubbish knocker. Get your 'facts' straight.

[1knocker] 21/9/2022 19:13

I don't think anyone can claim we are getting balanced, let alone full and reliable, coverage of any aspect of this conflict.
Surely the only incontrovertible facts are:-
1. There are no natural borders in this part of the world, and state borders have constantly changed over the centuries
2.The war was precipitated by Russia's fear (a perfectly reasonable concern)that it would wake up one morning and find NATO troops in Ukraine, whose eastern frontier is EAST of Moscow.
3. On a plain, without natural defensive features, distance is the key t defence, so that constituted an existential threat to Russia.
4.Once Russia had invaded, the west could not just shrug its shoulders.
5. The real disaster is that the real threat to the west is not Russia but China. China is the only winner of the way this war has been conducted by the USA. It has obtained access to the materials and energy it lacks, and Russia has become its satellite.
6. The sanctions are ill considered. Denial of semiconductors etc to Russia damages Russia and its capacity to wage war at little cost to the west. Embargos on the purchase of Russian materials, especially oil and gas, not only damaged the west more than Russia (enhanced prices have offset reduced sales), but they have ensured permanent new supply arrangements for sale of Russian oil and gas to China.
6.The west has no realistic strategic objective bring the war to an end, still less for the creation of a stable long term solution to the need of Russia for a warm water port, with land access
7. the cost of the war, or rather the sanctions, to the west (especially continental Europe)[oli and gas] and the whole world (especially the developing world) [food] is totally disproportionate to the benefit of total defeat of Russia's invasion
8. The cost to Ukraine in lives and destruction is much greater than is reported, and similarly the near collapse of Poland's economy and infrastructure under the weight of refugees
9.it is crazy for the west to place maintenance of Ukraine's arbitrary borders above the strategic interest of containing China, colossal damage to numerous national economic, and the starvation of millions around the world
10.That the west (essentially the USA)as no objective save the continuance of its proxy war against Russia is a damning inditement of the USA and the west. Complex problems require complex and imaginative solutions (cf Ireland's troubles) and because Ukraine would collapse without western support the USA /west is in a position to decide upon that solution, and compel Ukraine to accept it. It should do so.
11. A solution centred on the accetance of Crimea as Russian, the provision of a land corridor to it and the guarantee of a secure water supply, together with the permanent demilitarisation of Ukraine and the withdrawal of Russia troops would be acceptable to Russia, and would serve the interests of the whole world, without 'rewarding aggression'.

[masergt] 21/9/2022 17:43

Quark3. Looking back to 1870 or whenever is not going to sort out future conflicts without lessons being learned. Same solution, same response but always hoping for a different answer is daft. Radical action is needed if this is going to change.

careful. You are refusing to accept reality. You're another Putin sympathiser. Earlier you posted this: "The atrocity stories from the Russian side against pro Russian civilians and last nights mass graves alleged atrocities by the Russians need to be treated with caution." You're in blind denial and haven't even read the links I put up re the 2014 Crimea referendum. It was a complete farce and so will be the proposed ones.

[robizm] 21/9/2022 16:46

Also if Russia are so welcome why are millions of Ukraine people fleeing from the areas they approach. Sort of cancels your argument.

[robizm] 21/9/2022 16:43

They gave it up over 65 years ago. I speak Welsh and English but would not want to go back to welsh rule. The people living there have lived under Ukraine rule for decades. There were no big nationalists parties campaigning for Russian rule. I think you are calling it way wrong loganair as per usual.

[loganair] 21/9/2022 15:55

Is Russia really invading as the areas of Ukraine they are going into have between 70% and 95% ethnic Russian and were part of Russia before the Soviet Union and were virtually the whole population speaks Russian.

When Russia goes into many places in the South and East of Ukraine they are welcomed in by the majority of the local population. and the Russian troops on the whole try their best to help and assist the locals.

In Kherson the Russians carefully packed up any school books that were in Ukrainian and gave them to Ukrainian troops to take back during a prisoner exchange whereas the Ukrainian troops when they enter burn any book they can find in Russian, including all school books and arrest any teacher that has been teaching in Russian.

As soon as Russia go into an area, pensioners go on to a Russian pension which is 5 times higher then an Ukrainian pension.

The cost of energy bills falls by some 75% compared to when under the Ukraine.

Old Soviet Infrastructure is replaced by new.

Therefore not really comparable with going into Afghanistan.