Urals Energy Share Discussion Threads

[rcturner2] 25/3/2019 10:54

That will depend on who the nominee is. Some are very good and will vote but others dont bother.

[darren81] 25/3/2019 10:12

anyone know what the implications for voting in AGM/EGMs from leaving in the nominee accounts are?

ie will nominee account holder submit votes on our behalf when there is an AGM/EGM even though its delisted?

[jonivan] 25/3/2019 09:13

This is the response from A J Bell:

Please be advised as your shares are held within a dealing account your first option would be to leave them in this account until HMRC give us the authority to remove these or alternatively they re-list. You can also have your shares moved from electronically held to a certificate which would have a charge of £25 which would remove them from your account.

[darren81] 23/3/2019 12:38

I spoke to II and they said that the shares would remain in the nominees name on the register and once/if relisted they’d go straight back into my account.

The guy did say that in cases such as this the company would normally ask them for names and addresses of holders for future communication though.

He suggested viewing the company website as well given they can’t RNS news.

[danny baker] 23/3/2019 12:06

I have looked further into this and there seem to be some serious complications under Cypriot law. All transfers have to be approved by a board resolution of the Cypriot company. Therefore the crucial stage when the stockbrokers receive share certificates after the shares are moved out of Crest will need the company to provide as much assistance as possible. In my view, the company should provide clear instructions to assist the share transfer process and specify any additional charges for providing a certificate/registering the transfer. In other words it should be the company's responsibility to help shareholders obtain their share certificates. The company could perhaps put a download facility on its website so that brokers and shareholders when they eventually receive share certificates they can access a share transfer form acceptable under Cyprus law. This whole process will be a big test of how much the company wants to look after its shareholders. I would say there is now zero chance of holding an AGM for shareholders as nearly all existing shareholders have no way of voting until they are on the shareholder register in Cyprus. Here is a link to share transfers under Cyprus law. hxxp://www.mslawyers.eu/images/publication_documents/Valid_Transfer_of_Shares_under_Cyprus_Law.pdf

[whu0319] 23/3/2019 05:15

Dear Fellow UEN shareholders: I got a rather disappointing response from my broker (TheSharecenter)on my request for share certification as follows:

" Unfortunately we are unable to do this on your behalf as creating a certificated position on the Cypriot register is not something we can facilitate and therefore we are unable to action your request to re-register your holding. Please accept my apologies for the misinformation provided.

If you have an account with another provider who has the facility to do this then we can potentially transfer your holding across to them to re-register subject to their agreement and a £25.00 fee".

I shall be most grateful for any suggestion or advise if possible. Many thanks in advance.

[danny baker] 21/3/2019 12:06

mp41, small update from the lady at II who deals with certificate withdrawals responding to me on another matter: 'We are sorry for the delay in our response, we are currently handling a high number of messages' What with FRR and now UEN the poor lass is probably getting snowed under with queries.

[darren81] 21/3/2019 09:12

They released an RNS after the EGM and then one before the cancellation of the listing so that's 2 in a month.

Given we're no longer listed they can't RNS details of the AGM (unless i'm mistaken) so I'd say we'll have to wait until shares are transferred from nominee accounts to the company register before the can post notification to shareholders - then 21 days notice ahead of it. As such, I'm not expecting the AGM to occur until late april at earliest.

Lets give them some time to try to get the house in order, they've only had a few weeks after all.

I'm gonna try to stop checking here as often as it's not really conducive to a healthy mental state, it's just a waiting game now.

[martyn9] 21/3/2019 08:44

Fingers crossed then darren, don't get me wrong it's just frustrating to say the least with no communication coming from the new BOD.

[darren81] 21/3/2019 08:36

Given the Q&As stopped when he left Martyn that's not exactly fair - hoping that they keep their word and start answering these now though.

[martyn9] 20/3/2019 15:09

We have maximus back at the helm again!! probably accounts for the deadly silence from the company.

[mp41] 20/3/2019 13:02

Thanks Danny,

Attached is the reply I received from II. Fingers crossed we now have a benevolent director at the UEN helm!

I can confirm if the company decided to release share certificates to
their share holders then these will be sent directly to you via the post
however if the does decide to relist on the market you will receive
communication from ourselves.

[danny baker] 20/3/2019 11:55

Chav, mp41 from my experience when Servoca delisted, I contacted II requesting a cert but their standard procedure took over. Once II's position in Crest was closed, presumably by transfer to their nominee they then transferred the shares to me with a certificate and charged me I think £40 for their effort. I would expect a similar process with other brokers. It makes no difference the fact the shares are Cypriot except maybe an opportunity for them to charge more. If you do absolutely nothing I reckon you will still receive a certificate and have around £40 taken from your account under their terms and conditions.

[serabi_gold_srb] 20/3/2019 09:44

Serabi Gold (SRB) Beat the herd.

Undervalued and starting its breakout....

25m mkt cap
Priduction currently around 40,000 ounces gold PA
Plans to increase production to around 100,000 ounces PA within 2 years
Generating circa 1m USD per month net for gold production (around 4,000 ounces a month)
Gold reserves just upgraded by 40%
Stock tightly held
Very quick to move on any buying interest

See latest presentation from PDAC conference - March 1019

[tone the bone1] 19/3/2019 15:53

Trolls -A Scandinavian myth ?
No.. two or three have popped up on this board to gloat
So sad a life they live .

Good luck to all holders .Like always with Urals ..We wait and hope :-)

[sidarthur2] 19/3/2019 13:41

sidarthur2 - 14 Oct 2010 - 14:03:54 - 35913 of 72669 Urals Energy - New Moderated Thread - UEN
awful chart
death spiral
iam a holder
just observing
cheers
sid


the writing was on the wall even then.......

[martyn9] 19/3/2019 10:44

Not doing anything via my broker yet until we get some clarity (at some point) from UEN.
Could be a long wait i must admit!!

[amargosa] 19/3/2019 10:32

Chav, I can't clarify, it's not that clear yet. If it's as straightforward as I think, there won't be any issues, but each person needs to pin down their broker.

[mp41] 19/3/2019 10:19

Neft, other II account holders.

I have sent a message to II asking the questions and will let you know once I receive a response. I am sure we will not forget Allenby's role in all this.

Best of luck to all

[chavitravi2] 19/3/2019 10:13

Amargosa, sorry mate can you clarify. Do we automatic get a certificate, in my case from Halifax or do we have to ask and pay for one. 2. Are we automatic registered in Cyprus. If not what must we do?

[amargosa] 19/3/2019 08:55

This is what my broker is telling me:

As a result, Urals Energy Shares will no longer be held in CREST and we will no longer be able to hold them within our service. We will therefore arrange to withdraw your holding into your own name on or around 25 March 2019. If you hold the shares within an ISA they will be removed from the tax wrapper unless you make alternative arrangements prior to this date.
If you hold your shares in a SIPP or a CTF account we are not permitted to transfer your holding into your own name and will therefore hold the underlying Shares residually (outside of CREST) on your behalf.
The Company will remain registered with the Registrar of Companies in Cyprus in accordance with and subject to the Companies Law of Cyprus.

LET'S MAKE UEN GREAT AGAIN!

[defender3] 19/3/2019 07:59

ive transferred my shares to a crest certificate . I bought mine all through l.s.e . they charged £18 for the service . but as I ask earlier are they automatically on the Cypriot reg

[rcturner2] 19/3/2019 07:55

I cannot believe how deluded the posters on this thread are. You have been scammed by Mr K, your shares are worthless. This will never relist, it will simply slip off into quiet oblivion, with shareholders scammed out of the assets. They will take out loans against the assets with related third parties which will then be defaulted and the assets transferred to the third parties.