George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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True but I saw Cooper3's comment.
I don't think you can assume that just because they are Russian they will support UGC.
That means around $80m of the $125m bonds have now been converted. If nothing else this, little spat has helped to heal the wounds inflicted by the favouritism displayed by the CB issue.
sorry His.
I thought ****ov was interested . If it is he's lot shows what a double faced liar he is.
VTB bank are Russia based. It seems likes Russia wants pog to themselves
This appears to be for UGC, then it takes UGC and Everest shareholding above 40%. I think closing date for votes is 7th August, so will be touch and go at EGM. Not good news. Will UGC now need to make an formal offer. ?
But the questions are
who converted
which side are they on
and have they done it in time?
Further conversion
5 August 2020
Petropavlovsk PLC
Issue of Shares
Petropavlovsk PLC ("Petropavlovsk" or the "Company"), has received Conversion Notices (the "Notices") from Euroclear Nominees Limited on behalf of VTB Bank PJSC, Renaissance Securities (Cyprus) Limited and SOVA Capital Limited, in respect of the exercise of conversion rights under the Group's US$125m Guaranteed Convertible Bonds, due in 2024 (the "Bonds").
The aggregate principal amount of Bonds in respect of which Notices have been served totals US$30,400,000, which, at a fixed exchange price of US$0.135 per ordinary share, will result in the issue and allotment of 225,185,183 new ordinary shares.
The Company has agreed to issue the new ordinary shares and an application has been made for 225,185,183 new ordinary shares of the Company to be admitted to the Official List and to trading on the London Stock Exchange ("Admission"). Admission is expected on or around 6 August 2020.
Following Admission, the total issued share capital of the Company will increase to 3,899,492,481 ordinary shares. This figure may be used by shareholders as the denominator for calculations by which they will determine whether they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.