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Someone is feeling confident!
Metom talking nonsense, HAND ON FACE EMOJI
not for russia....putin's grim reaporized his whole economy.
The fall seems to have coincided with the stalling of talks.
https://www.theguardian.com/world/2022/may/21/zelenskiy-signals-readiness-for-new-talks-if-mariupol-troops-are-not-harmed
https://markets.ft.com/data/investment-trust/tearsheet/financials?s=JRS:LSE
No. I believe not - an almighty 7 trades this morning
Is this suspended?
Poly is what enabled me to have the size of holding I have here. Less volatile here so I feel I can just leave it be and when the war is over this will blossom
Ninja, very nice.
You've got bigger balls than me, although I am in stupidly heavy (for me), in POLY.
I've also got a limit order set up there too.
It's a bit scary for me, but I'm sick of losing and not even making anything beforehand, so what the hell.
Cwwx, I'll be reading, don't worry.
I might be slow to respond, or not even bother at all.
But I'm keeping my eye on it now I'm in.
I’ve topped up today, long term hold for when this is all over.
I’m up to 20,000 shares now, just waiting for it to all blow over
Some niced sized buys going on, and someone regularly buying the same amount. I say niced size, compared to previous days trading theyre nice to see.
PS. I know I am talking to myself. Dont panic, I will probably reply to myself later as well.................
just to take a small position, so I can keep an eye on it ready for later.
I can see it being costly, but hey ho, what's new? :-)
JPM have a licence to bank in Russia so the adr/gdrs should be very simple they may even be allowed to keep them but either way I don't think there's any reason for concern. Dividends needs clarification but I'm not sure the Russian holdings will be paying out divvis at the moment anyway. Rhetoric seems to be softening from the Russian side and 9/5 approaches, I'm hopeful this may be a surprisingly quick resolution to conflict but either way a very happy holder at this price.
Anyone know if JRS will still be receiving dividends from their holdings in Gazprom,Lukoil,Rosneft etc? And have JRS ever said what they intend to do with their holdings that are in ADRs/GDRs?
Thanks for the info.
Looks to me like Russia is being very honest and fair regarding foreign holders.
Funny I was trying to contact BMY Mellon but couldn't get through to the person who handles MNOD.
As per the decree signed by putin, no dividends or voting rights for adrs and must be converted into direct Russian shares. Is there any uk platforms that's allow moex shares? I doubt it but anyone able to shed light?
What happens to all the JRS shares? Bad PR for them to exchange the shares to moex shares...veey unclear.
This is from the press release of MNOD.
"ADRs will become non-voting, and dividends will not be paid on shares underlying ADRs. Following the withdrawal of underlying shares, ADR holders who hold ADRs as of April 27, 2022 may be able to claim unpaid dividends under the procedure set forth in the Russian Federal Law on Joint-Stock Companies for unclaimed dividends.
The record date for the surrender of depositary receipts is April 27, 2022. ADR holders should not enter into any transactions involving, or otherwise transfer, their ADRs on or after April 27, 2022 as the purchasers or transferees of such ADRs will not be able to receive any entitlement to the underlying shares.
The Law provides that Russian issuers must initiate the termination of their deposit agreements not later than five business days from April 27, 2022 unless they apply for a permission to retain their depositary receipts programs. Nornickel is evaluating its options with respect to its ADR program. There is no assurance that if Nornickel applies for the permission, such application, if made, will be successful."
Can anyone explain this new law in Russia about dividends? “Holders of depositary receipts established as of the date the law comes into effect will automatically receive shares of the relevant Russian issuers instead. Shares underlying depositary receipts become non-voting, and dividends will NOT be paid on them.” So the ADRs/GDRs will presumably be swapped for Moex shares. But what about this “No Dividends Law”? If there is no dividend then what is the point in having the share? A Gazprom share with no dividend is only worth a small fraction of a Gazprom share with a dividend. How is this law going to work? Will there be 2 different prices for Gazprom shares on the Moex? Who would want to buy these former ADR/GDR shares if they have no dividend? How can they be sold? Will they have any value? What effect will this law have on the GDR shares that JRS own?
I think only around 20% of the funds holdings are ADR or GDR, these will be swapped for regular rouble based stock with the rest of them. With the ruble at such a high price right now relatively the assets have appreciated nicely.
I'm new to how these trusts work, I can see there is GDRs and ADRs which have been suspended on LSE. Is that not the main reason this doesn't move up/down as its shares are suspended and this can't move either.
Can the close the trust down due to the massive anti Russian sentiment?
Ah well, he suggested buying two and a half thousand quids worth in amongst other safer investments, and has resisted buying more. The extra 25 grands worth of shares in this, Polly etcI have bought on my own in two ISA's, he's going to have kittens when he sees I've bought 7 grands worth of Poly shares in the ISA within 'our' account :D
That’s a brave FA recommending them, if it all went tits up they could be accountable under FCA regulations. (I am an IFA and I wouldn’t recommend them for most of my clients, if not all) very high risk and above most peoples comfort levels.
Totally agree though that if VP’s successor is geared towards relationships wi tv the west then it would be huge for Rus shares. Think that’s inevitable as well, no way the next Russian leader will look at what’s happened here and think “that was a good move”
Yea am hand sitting on these, was my FA that out me onto them and started my interest in Poly and Evraz, (he had kittens and said don't buy Poly too much risk) there's a few 'if's', but as you say peace will improve the shares, hopefully, but if and when Putin goes, FA is saying the natural successor is more Western looking, and that will help open up the true value of Rus shares, possible upside on the upside can't be a bad thing. All just opinion tho.
We all hold tight and hope for the best…..
This one definitely needs peace in Ukraine to make any upwards movement