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I would guess.....that the results are pretty much done ...and the delay is possibly more because the BOD are now all hands to the deck dealing with FPM and don't want the Results and preparing for Analyst meetings etc to get in the way, right now ..especially when they will be questioned on FPM and the consequences .. last year they were on March15th ...
They are having to face various issues with FPM, the courts and the Supreme Court ..so it is quite a handful ...and very much dependent on local legal advice on the different claims etc
They have though stated that they feel they can defend themselves in court against any allegations which they say are without merit .... so..whatever happens...the lawyers have obviously realised they can make a few bob out of it all ...and in Ukraine right now I suspect they are quite happy with that ...even... if , at the end the Courts and Supreme Court were to throw it out
All remains to be seen where the courts will go with it all ...but it looks like quite a circus and FXPO are being made to jump through a large number of hoops in order to get to a position where they will be able to defend any claim in Court or through the Courts
I don't think people underestimate the seriousness. However, the value is now really quite low and so it is increasingly more like an option play. Huge risk of losing everything but, if he company gets through this, huge upside. So big risk for potentially big reward. Feels logical to me but you wouldn't want too much in it.
Fogthemogg, because in either case (bankruptcy or seizure), FXPO will be a completely different company. So a going concern basis in the financial statements is no longer applicable
But the bankruptcy would normally take at least 1-2 years and can be reversed. Perhaps, that's the plan
Sandyman, really? If FXPO comes under Russian control consider it a lost cause. Why you would be against sending arms to the Ukrainians? Literally protecting an investment. Unless you are trolling, an edgelord, or a idiot, this really shouldn't need spelling out.
Krok, that's a pretty logical guess. However, what isn't logical, is why these court shenanigans prevent FXPO from releasing prelim results...It shouldn't really.
Roxi, that debt has nothing to do with its amount, it is irrelevant
My best guess is that FXPO is trying to initiate a managed bankruptcy of FPM to avoid the asset being seized by authorities. Otherwise why would a related party initiate "creditor protection proceedings against FPM"?
Any legal entity of FXPO group could easily settle that debt on FPM's behalf. Still FXPO prefered to claim it is unclear whether "funds will be received in a timely manner"
So, again, it seems that FXPO is trying to save FPM from it being seized. Using a bankruptcy as a last resort
Sounds extremely bizzarre, I know. Anyway, I presume you can forget about accounts being published any time soon
Of a crash, seems there are a few who would have preferred Pi,s to sell out cheaply, some where even saying 10p????
Disgusting behavior!!!
it has risks , we know, but if results are held up, prob due to putting something in place to pay of that small amount of debt, thats created the recent problem, imo the Accounts will be out next week,
added a few more today, only holding a couple of K, so not too much of a risk as PF goes
Why would they even in their wildest dreams commit a soldier, I disagree with even arms being provided to Ukraine!
Those institutions haven't bought FXPO for their own prop trading desks though have they? They're custodians.
On what information is this viewpoint based? Have you got more information than the likes of Schroeder’s, Artemis,HSBC and Vantage , who together own around 20% of Ferrexpo. None of these have reduced their holdings over the past few days. None of us really understand what is happening here so to appear to do so is disingenuous and manipulative .
MC, just give it time. The Americans can afford to be apprehensive – Poland cannot. Hence why they spend 4% of GDP on military and now are gearing up. It's not farfetched or controversial, but absolutely necessary. You can't rely on the Americans for anything. During a recent debate on the 25th anniversary of Poland’s accession to NATO, Foreign Minister Radosław Sikorski stated that a full NATO presence in Ukraine is "not unthinkable."
have not been very understanding of the situation – too slow and apprehensive.
There are a load of Over the Counter OTC trades going through for tiny volumes, 2 or 3 shares etc
Does anyone have any idea what these are?
How does a company go from paying a dividend to not being able to pay a supplier $58,000 in the space of 3 weeks? Doesn't all add up but if I wasn't already in I wouldn't be going anywhere near this now.
That said I'm convinced Q1 numbers are going to be good. If the Ukrainian authorities just some how seize FPM or force them into bankruptcy where does that leave the likes of Blackrock, HSBC or Schroders? They are unlikely to invest further in the country with that kind of behaviour.
@LoungeLizard - if it makes you feel better! Poland will officially not commit a single soldier to die in Ukraine. That’s been perfectly clear for 2 years.
I just sold and lost a few k. I don't trust Ukraine to do anything legally, it's corrupt af and I can see it going the same way as POG. Good luck if you're still holding
Seems that people underestimate the seriousness of what's going on. For me it is pretty much obvious FXPO will soon lose FPM, one way or another
It would be completely insane to invest right now. For those still holding now is the time to exit, however painful that could be
Surprised still above 50p
That's never good news for any company.
Just be careful your money doesn't evaporate before your eyes in the coming weeks.
Bit early to say that Roxi...
Clearly that 27% dump on Monday was the insider reaction to yesterday's RNS. Delaying results is pretty bad...
Not much off a Crash????
Where's the so-called train crash, that some were predicting????
Cheap - 10p. The risks are extreme here. only day trading them.
Pick up a few cheaper shares, what price is Cheap ????
SP < 10p?
Delayed results, no divi, downward pressure would thought on shareprice