Polymetal Share Discussion Threads

[loganair] 27/11/2023 11:21

MOEX Monday - In the meantime, Polymetal surged 11% to rebound from last session’s 15% plunge amid news that it plans a second exchange offer in Kazakhstan for shares frozen by Western sanctions.

[1917again] 26/11/2023 19:43

Yesterday was Holodomor remembrance day

The United Nations signed by 25 countries in 2003 declared that 7–10 million were killed


Holodomor also known as the Great Ukrainian Famine,was a man-made famine in Soviet Ukraine from 1932 to 1933 that killed millions of Ukrainians. The Holodomor was part of the wider Soviet famine of 1930–1933 which affected the major grain-producing areas of the Soviet Union.

Historians conclude that the famine was deliberately engineered by Joseph Stalin to eliminate a Ukrainian independence movement.[c] Others suggest that the famine was primarily the consequence of rapid Soviet industrialisation and collectivization of agriculture. A middle position, held for example by Andrea Graziosi, is that the
initial causes of the famine were an unintentional byproduct of the process of collectivization but once it set in, starvation was selectively weaponized and the famine was "instrumentalized" and amplified against Ukrainians to punish them for their rejection of the "new serfdom" and to break their nationalism.

Ukraine was one of the largest grain-producing states in the USSR and was subject to unreasonably high grain quotas compared to the rest of the USSR.This caused Ukraine to be hit particularly hard by the famine. Early estimates of the death toll by scholars and government officials vary greatly. A joint statement to the United Nations signed by 25 countries in 2003 declared that 7–10 million died. However, current scholarship estimates a range significantly lower, with 3.5 to 5 million victims. The famine's widespread impact on Ukraine persists to this day.

Since 2006, the Holodomor has been recognized by Ukraine and 33 other UN member states, the European Parliament, and 32 of the 50 states of the United States as a genocide against the Ukrainian people carried out by the Soviet government.

[loganair] 26/11/2023 17:13

When it comes to fuel security the UK is in real trouble.

Grangemouth which is expect to close in 2025, refines virtually all the petrol and Diesel that Scottish motorist use, virtually all the heating oil that is used in Scotland and much of the oil for the plastics industry in Scotland.

The last oil refinery built in the UK was in 1969, bringing the total number up to 18, Since then 12 of these oil refineries have close leaving just 6 and with the closure of Grangemouth will leave just 5 oil refineries in the UK, 2 of which were built before the WW2.

While Russia spends hundreds of billions of roubles modernising and up grading their current 25 oil refineries.

[loganair] 26/11/2023 16:37

For COD & xxxy - Gazprom set a new record of gas supplies to China over the Power of Siberia gas pipeline, the gas giant reports.

"On November 25, the nomination of the Chinese side for Russian gas supplies over the Power of Siberia gas pipeline was again above daily contractual commitments. Gazprom supplied all the requested volumes and set a new historical record of daily gas supplies to China," the company informed.

[1knocker] 26/11/2023 16:01

The Ruskies and their economy just don't seem to be paying any attention to xxxy, do they?

[loganair] 26/11/2023 10:03

Even with all the extra spending on the Ukraine conflict, Russia's budget deficit shrank further in October thanks to higher oil prices, a weak rouble and an inflow of quarterly tax payments, the finance ministry said on Tuesday.

The deficit for the first 10 months of the year stood at 1.24 trillion roubles ($13.45 billion), or 0.7% of gross domestic product (GDP), compared with 1.70 trillion roubles or 1% of GDP a month earlier.

Oil and gas revenues were up 27.5% in October compared to the same month of last year.

[loganair] 26/11/2023 10:02

31337 COD 3R - Over the first 9 months of 2023, Russian GDP grew by 2.9%," Deputy Minister of Economic Development Polina Kryuchkova said.

The Russian economy has passed its recovery stage and is now actively booming. "The Russian economy is expanding rapidly. Industries targeted at growing the supply-side economy remain the main economic drivers: manufacturing, construction, and agriculture. The economy is supported by increased consumer activity, which is ensured by the flexibility of the domestic labor market and the increase in population real cash incomes. Now that the recovery stage is ended, the objective is to maintain positive trends and assure future fundamental economic change," she said.

According to preliminary Rosstat estimates, GDP growth in the Q3 of 2023 will be 5.5% in annual terms, up from 4.9% in the previous quarter.

[xxxxxy] 26/11/2023 08:23

Noted.... Iran part of the UNCIVILISATION.... Day of Reckoning is coming to Iran.Never invest in Russia again.Untrustworthy. Menacing. No Credibility.Russia. OUT. OUT. OUT.

[31337 c0d3r] 25/11/2023 19:23

The Russian economy is shrinking

According to the World Bank, the International Monetary Fund (IMF) and the Organisation for Economic Cooperation and Development (OECD), 2022 was a bad year for the Russian economy.

It is estimated that in 2022, Russia's gross domestic product (GDP) dropped by 2.1%. Russia's economy may continue to shrink in 2023. Its GDP is forecast to decline by 2.5% in the worst-case scenario (OECD) or by 0.2% according to the World Bank.

[spacedust] 25/11/2023 19:10

Russia gas demand soars and China bank rolling Russia

[spacedust] 25/11/2023 19:09

Russia making deals with Turkey

[loganair] 24/11/2023 20:00

And the Chinese are fully aware they have more to lose than to gain if they invade Taiwan.

1. The Chinese reckon they would lose 1mln men taking Taiwan.
2. The Chinese reckon as many as 3mln Taiwanese would lose their lives.
3. As most of Taiwan is extremely mountainous, the Taiwanese would be able to fight a many multi-year guerrilla campaign against the Chinese on the island.
4. Taiwan itself puts in billions of USD in investment into mainland China - would be lost if China invaded Taiwan.
5. Via Taiwan, non-Chinese put in billions of USD in investment into China - would be lost if China invaded Taiwan.

[1knocker] 24/11/2023 17:25

Agreed loganair. Its a bit like the Southern Ireland commitment to a united Ireland. An aspiration, even a long term objective, but not something to be actively pursued. They don't like people (especially the USA) saying Taiwan is not part of China, but that does not mean that diplomatic gaffes by Biden will precipitate an invasion. If the Chinese did go on the offensive, it would more likely be by way of economic sanctions and blockade than invasion. At present they have more to lose than to gain, especially in respect of chip sourcing.

[loganair] 24/11/2023 15:38

I worked in Taiwan and I can categorically say that the Chines do not want to invade Taiwan and have no intention of doing so and the Taiwanese firmly believe that the Chinese will not invade them.

If the Chinese do ever invade Taiwan it will solely be because of the actions of the United States.

[xxxxxy] 24/11/2023 15:29

China is on manoeuvres.Be warned.Do not invest in Chinese.

[xxxxxy] 24/11/2023 15:28

MoD saidRussia and China have discussed building 'underwater tunnel' to Crimea, a report claimed... Daily Telegraph

[loganair] 24/11/2023 14:03

Polymetal currently down 11.86% (-57.2 rub) on the MOEX and Unchanged on the AIX.

[31337 c0d3r] 24/11/2023 12:31

POLY currently up +1.07%.

[loganair] 24/11/2023 10:51

Polymetal International plc (“Polymetal221; or the “Company”;) announces its intention to conduct a new offer to exchange certain eligible shares in consideration for the issue of Exchange Shares on a one-for-one basis relevant to shareholders whose rights have been affected by sanctions on NSD (the “Second Exchange Offer” or the “Exchange Offer”). The Exchange Offer is subject to shareholder approval at the General Meeting which will be held on 8 December 2023.

The Second Exchange Offer invites Shareholders whose rights are affected by the sanctions imposed on National Settlement Depository (“NSD”) and other Russian depositories, subject to fulfilling eligibility criteria, to tender their Eligible Shares for exchange in consideration for the issue of Exchange Shares 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, including the ability to receive dividends.

At this time, due to restrictions imposed by securities laws, sanctions and counter-sanctions applicable to the Shares, the Board is only able to extend this offer to Eligible Shareholders, defined as shareholders who are:

a. not associated with an Unfriendly Jurisdiction as may be defined under the laws of Russia, and/or;

b. not subject to Sanctions as confirmed by the results of the Sanctions Clearance as defined in the Circular.

Polymetal will submit paperwork to cancel shares repurchased under the Second Exchange Offer. However, such a cancellation is contingent upon the relaxation of the restrictions on NSD and until such time that the restrictions are relaxed, these shares will be held in treasury by the Company and will not be available for re-issue.

The Directors consider that the Exchange Offer is in the best interests of the Company and its Shareholders as a whole. Accordingly, the Directors unanimously recommend that Shareholders vote in favour of the resolutions.


Background:

On 3 June 2022, the EU imposed sanctions on NSD, which effectively blocked the operations between Euroclear and NSD. As a result of such sanctions, prior to the First Exchange Offer, Shareholders holding approximately 22% of the Company's issued share capital were unable to take part in any corporate actions of the Company and/or receive dividends (the “Affected Shares”). This prevented the Company from being able to carry out certain corporate actions with the involvement of a significant part of its shareholder base.

On 22 September 2022, the Board announced the First Exchange Offer to exchange certain shares eligible under the terms of such offer for newly issued shares. A total of 41,614,678 Shares (or approximately 8% of the total number of voting rights in the Company) were repurchased by the Company under the First Exchange Offer which was completed on 11 October 2023. The Company now holds 41,614,678 Shares in treasury, which, according to AIFC Law, do not enjoy any voting or economic rights.

Approximately 14% of the Company's Shares were not eligible to participate in the First Exchange Offer although were Affected, and therefore continue to be impacted by the restrictions imposed even though the shareholders themselves might not be subject to an asset freeze insofar as the Company is aware. As a result, the Company continues to be prevented from carrying out certain corporate actions with the involvement of a significant part of its shareholder base.

On 7 August 2023, the Company announced the successful completion of the re-domiciliation of the Company from Jersey to the AIFC. As a result of the re-domiciliation, certain restrictions which previously prevented the First Exchange Offer from being addressed to Eligible Shareholders no longer apply.

[loganair] 24/11/2023 10:45

The MOEX Russia Index edged above the flatline to the 3,225 mark on Friday, setting up a 0.7% increase in the week as markets continued to assess the impact of the ruble’s recent rebound and fresh corporate developments on key Russian export markets.


On the other hand, Polymetal sank 14% before steadying with losses of 7% amid news that it plans a second exchange offer for shares that were frozen from sanctions against Russian companies.

[1knocker] 24/11/2023 09:21

Yes the world service broadcasts are much more balanced and informative. The tone is much more agreeable too - much less judgmental. Most importantly, it is the information rather than the journalist which is the star of the show!

[loganair] 23/11/2023 20:59

I agree BBC Radio is often far better and far more informative that BBC TV ever is.

I've often listen to BBC World Service and BBC TV News about the same event and you'd think they're talking about two completely different events.

[1knocker] 23/11/2023 20:40

Panorama is hardly a reliable news source. Its only objective is sensationalism: it is more about the cult of the current presenter than objective journalism.

I have been listening to to BBC radio, The Briefing Room, presented by Arronovich on the Israel /Palestinian mess though. Very good, unsensational, informative and balanced. It takes on difficult subjects, and whatever the subject I have found it consistently excellent. I commend the programme to you all.

[lunar 26] 23/11/2023 18:23

Putin and Ukraines Stolen Children

Panorama BBC1 9pm 23 Nov 2023

The Ukrainian government says that thousands of children have been taken unlawfully to Russia since the start of the war. The International Criminal Court has issued a warrant for President Putin’s arrest. Now, Panorama investigates what happened to more than 40 children taken by Russian forces from a children’s home in Kherson. The film-makers, working with journalists in Ukraine, uncover birth certificates, a secret adoption and a trail of evidence leading all the way to the Russian parliament.