The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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That guy has been the source of almost 100% of the drama around this co from day 1, an absolute nightmare- if the Ukraine govt seize his shareholding then cannot be any worse than having him there
Does anyone know why the 57k bankruptcy proceedings are happening against the subsidiary.
Looks like the creditor kysen filing the charge is related to the zhevago.
Not sure why the majority owner would file a bankruptcy procedure against his own company?
In the usa it would give some protection not sure what the purpose would be in ukraine.
I have no expertise about legal risks either but they are obviously relevant. With production and exports up something other that the war is supressing the stock price.
Not aware of any sites specifically reporting on the court cases.
However, this is pretty well run and informative:
https://gmk.center/en/
“Small fry” lol
Have you seen the provision amounts for starters
Major risks are Russians advancing and iron ore prices falling during the approaching recession. I have no expertise about legal risks here.
OMH and Evanescent, you read my mind. JW, the upcoming court cases are small fry. The price at the moment is a great opportunity to get some cheap shares easily worth 3 to 10 X more. Large share holders should not be selling at all. Apart from losing money, they will be missing out big time on massive future growth. Are you shorting FXPO though JW? If so – why? It is about as much good sense as parachuting into an alligator farm.
Silicon curtain......https://www.youtube.com/watch?v=criLG8pCyVE
JW Bell end....spreads the same negative bs liberally in every board he trolls.... ignore him, he likes to spread fear and negativity....
You short by any chance?
They pose a major risk, would have to be a bit nuts to hold into that.
Wouldn't worry about court case too much. It is (mostly) theatrics to show they are clamping down on corruption. It would be extremely foolish to punish FXPO when it has many big, influential foreign investors like HSBC and Blackrock. I've said it before, and I'll say it again, this is the steal of the century, when the court case is done and dusted, there will most certainly be a dividend (likely a resumption of the one cancelled back in February), but perhaps a 2nd dividend some time later. A 3rd would not be out of the question considering the sheer amount of cash generated by FXPO. The Black Sea is clear for exports now. The SP will NOT fall back to record lows ever again (unless the company is absorbed by the Russians – highly improbable) as all the risk is now baked into the price. With the recent passing of the aid bill, and security assurances from NATO, I wouldn't worry about that. If Ukraine wins, this becomes a multibagger overnight, and the SP might even hit record highs (why not?) FXPO will be involved in the reconstruction of Ukraine.
Is there anyway to follow the court cases without just waiting for news articles?
Sounds about right. I'm sure they are hoping the accounts will be unfrozen at the next court case.
So just to make sure I’ve got it right, they have a debt to a supplier that they can’t pay because their accounts are frozen but they have plenty of money in non-Ukraine accounts? I know why the government is being difficult…
But how would they settle the case if their accounts are still frozen?
Possibly. They won't be able to pay a dividend until the legal proceedings in relation to creditor protection are concluded. Next court hearing is scheduled for the 30th April (see note 14 of the 2023 final results), where FXPO stated:
The creditor protection proceedings are a lengthy process, which is not expected to limit the Group to continue to trade and generate resources to meet its other liabilities as they fall due. Furthermore, it is the Group’s intention to settle this debt or seek to extend the payment terms, but noting a previous extension request has been refused by the supplier, to avoid the opening of such creditor protection proceedings.
Playing games by the sounds of it. A dividend will be on the cards (as previously announced) when this mess is cleared up.
What do we think, final dividend payment announced late may and it shoots back up to 80ish?
Moo!
One thing is for sure, following today's RNS we know that this cash cow is back on its feet. Over 5.6m traded today and all of it over 50p. That should flush out those buying in the 40's.
Why does court wants fxpo to fail???
I mean Fxpo will help rebuild Ukraine when the war is over,
don't know when that's going to happen,
buy court orders are frustrating for fxpo shareholders
The significant ramp up in production is highly encouraging here. Even if the dodgy court claims go against FXPO they will have enough cash to cover it. Debt free and printing money essentially. Still highly risky given government risk of seizing assets, or being nicked by Russia. However, the gains here could be astronomical if they ride out the storm. I called the bottom (see posting history) and it appears a technical breakout is now underway.
Great find Alex, And the CEO was is Japan a couple of weeks back so the dots are all lining up.
He doesn't give up:
https://www.bbntimes.com/global-economy/a-trillion-dollars-are-needed-to-rebuild-ukraine-businessman-zhevago-explains-which-countries-can-contribute-to-the-reconstruction
..