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The ESO 470 law is compulsory for companies, so Evraz Plc has no say in what happens with it after it is included by the Rus government into the list. It is all automatic one way road after that.
ESO is not in focus for Evraz. Till today Evraz has not contact with the Russian Gov about this. RASP shareprice show also not the direction as an x5 which is in scope.
The direction are a NA sale and sharebuyback or we wait for a while till things normalize.
Majors has 8B USD frozen in the west. All kids life in the west and no interest to destroy there reputation. They have still enough to wait till we found a conclusion. Evraz can pay off all debt and invest too into projects. No value will be lost.
WolfofWarks wrote "If this were to happen Russia would basically shut themselves out "
the Gov in Russia refers to foreign investors as pigeons who would fly, do a circle or two, and come right back. Argentina is defaulting on its debt every 10 to 20 years and still investors buy it's new bonds every time as if nothing has happened. Also the ESO law is a retaliation measure for the seized Rus reserves as they see it.
'the status of ezo allows their russian beneficiaries to obtain shares and assets of such companies in direct ownership through the court, excluding foreign holding structures (ihcs) from the chain of ownership, or transfer the right to them to someone else.'
If this were to happen Russia would basically shut themselves out of the international markets as no sane investor would never feel their money safe in a Russian asset again. I still don't see legally how it can stack up.
"The Rus business of Polymetal PLC is out and it is sold exactly as I wrote "for the debt and 300 mln usd"
Though you may not have actually lied, you did intentionally omit the most important piece of information. The fact that they were also taking over the debt total of $3.5 Billion. This then allows one to estimate a total value of the deal, and by default an approxamate valuation for the whole company of Polymetal compared to a pre war price. This comparison gives a present day value of about 50% of the pre war price. Clearly this does not suit your paltry Evraz offer. (Obviously both companies are very different, so investors should do their own due dilligence with respect to risk/reward).
All here realise why you did that. Let others make up their own minds now they have the full picture.
I'm sure you have no problem with that.
Jotom750: The Rus business of Polymetal PLC is out and it is sold exactly as I wrote "for the debt and 300 mln usd", which leaves Poly with a KZ business worth in my view 2 bln (more or less 5 ebitda) and 300 mln usd cash. That is not bad, but I bet not as good as people thought the sale price of the Rus assets would be. I would not buy Polymetal PLC now because I don't believe in gold. But if you believe - the KZ assets left seem to be safe with the new owner and in a safer jurisdiction like the KZ. May be gold should have a higher ev/ebitda mult than steel or "dirty" coal after all), so at ev/ebitda 10 it should be $9 per share, but Barrick is like 6-7 ev/ebitda. I have zero Poly shares and don't buy or sell any, this is just a view. Evraz Plc situation is way-way worse than Polymetal's for foreign shareholders. Here you at least got the Kazakhstan part of the business that is worth something, in Evraz the out-of-Russia (Canada, etc.) part of the business is a zero.
As always, you miss out facts that don’t suit you. The debt was $3.4 BILLION, so the total value of the deal was US$3.69 billion. I’m not saying that was good or bad, just that it’s a very different story.
I make that about $6 per share (560,000,000 shares issued) and taking into account the Kaz holding makes it nearer $9 per share.
first news is that the eso asset stripping list is almost here (this is from the paid version of rus bloomberg analog):
moscow. february 9th 2024. interfax - the first edition of the list of economically significant organizations (ezo) may be published as early as february 2024, first deputy minister of economic development of the russian federation ilya torosov told interfax on the sidelines of the all-russian debt restructuring forum organized at the site of the chamber of commerce and industry of the russian federation.
"the first stage is less than ten (companies)," said torosov, specifying the number of organizations that will be included in this version of the document.
earlier, officials explained that the document would not be static, the list could be adjusted and supplemented.
in russian legislation, mention of ezo appeared in the summer of 2023 after the adoption of law no. 470-fz, which gave the government the authority to form a list of such organizations. the document has not been published yet.
the status of ezo allows their russian beneficiaries to obtain shares and assets of such companies in direct ownership through the court, excluding foreign holding structures (ihcs) from the chain of ownership, or transfer the right to them to someone else.
second news:
i don’t want to be in politics but from what i saw in uk, a lot of people think that the sanctions will end as the hot war ends. i honestly don’t think so. russian state media and top officials post things like this all day long (this one is medvedev): russia threatens to unleash ‘entire ****nal on london if it loses war in ukraine’. i seriously doubt that the sanctions will be lifted until a mayor change in russia, which is at least in 2042 when putin might step down.
third news: polymetal plc sold it’s russian assets. there is a strange configuration, but in the end the sale is for the debt and 300 mln usd, so in essence the money for the plc shareholders is very low, almost zero for 60% of the plc company’s assets. as you might guess they sold it to an absolutely (wink) unrelated russian guy. i honestly think evraz plc would have done the same if not for the convenient eso law.
buying/selling evraz plc shares. if you want to sell write me at chinaadr2021 at yandex.ru you must have the paper certificate. price is 0.8 gbp. minimum amount 8000 shares. only !sane! people. i am a rus citizen so i plan to have my shares esoed, otherwise i would run. if the eso list with evraz plc in it is released, then i don’t buy and the new shares are a zero to me from that moment.
Devil, lost your voice?
"Thank god for the US Republican party"
Why?
What a lovely up beat posting. Fingers crossed it happens soon,. Thank god for the US Republican party.
Agree.... the war is at stalemate. And will remain so. Leading to a negotiated settlement. As part of that negotiation Russia will require the progressive lifting of sanctions.
Patience is all that is required. And it's not like we have a choice. Meanwhile, Evraz and Rasp continue to bank profit.
There will be a hell of a lot of steel required to rebuild Ukraine.... and now Gaza.
Our day will come Stay positive!!
Got to be worth £6 £7 a share in a couple of years these. Or nothing. £1per year divi too. Nice.
I assume everyone invested jumped in and got stuck . One of them.
Hi Andrey,
I have emailed you a message.
I wouldn’t be selling for pennies to Andrey, the likelihood is war will come to a cross roads this year and likely end sometime next year . However , it doesn’t mean sanctions lifted, but we are only a year or two after war ends for sanctions to be lifted or some resolution to our shares.
To write private messages here you need to be a premium customer - 30 usd a month a something. I am a premium customer here so those who want to sell - just spend the 30 dollars for a 1 month premium customer if you want. It is not ideal but still better than nothing.
196melroseavenue write me: chinaadr2021 at yandex.ru or contact via telegram in our telegram group at Evraz plc sane people only
Andrey,
This is 196melrose,
I am unable to access private messaging in ii.
Can I email you please,
Kind regards,
They are both retaliations to countries being attacked though right?
I unless we are blaming Ukraine and Israel for being attacked?
The only contradiction I see is people in west calling for ceasefire in Middle East but sending bombs to Ukraine for a proxy war against their gl08l1st bogeyman which will end in ww3! Trump want peace for forgotten people of Donbas!
At 20:31 you said
“FOR YOUR INFORMATION. THIS IS A POSTING SITE FOR EVRAZ PLC. CONFINE YOUR VIEWS TO THIS SUBJECT. TO REITERATE YET AGAIN UCRANE AND ITS BORDER DISPUTE IS OF NO SIGNIFICANCE TO ME.ALL I WANT IS EVRAZ PLC FTSE 100 GLOBAL COPORATION TO TRADE AGAIN.
Yes I find the Kiev warmongering beggar a real P.I.T.A.”
At 20:34 you said
“Really hope the multi bag happens. Thank god for President Trump in waiting and Viktor Orban.”
Anybody see a contradiction here?
Really hope the multi bag happens. Thank god for President Trump in waiting and Viktor Orban.