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Ia am wondering if the change to emerging European markets including Russia might not be a stepping stone to unlocking the 95% of value currently stranded in Russia.
For example those shares we hold in either ADR or possibly even directly, which are also listed on the Kazak market, could be ‘swapped’ for stock listed on a different market and then sold and reinvested in emerging European markets. 50 to 60% of true value could be achieved in this way.
I supposed to make back some of the outstanding loses we could always buy some Ukrainian stocks
I think I was wrong; the change of investment objective will take longer than a month. I've just read that there will be a shareholders' vote in the Autumn.
I'm not sure which way I would vote.
I think that the change in investment objective should take about 1 month. There will presumably be a change in name to go with it. Perhaps the DR conversions will have happened after around that time. I think the price will take off after that. I have been placing buy orders quite close the market price to buy dips.
HL - Yea same. I become a bit obsessed with stocks and dummy quotes as I’ve noticed a pattern In price action. Im very confident here we break 80’s and climb to the 90’s now. Been following this since the invasion and have accumulated all the way down. Hopefully start to see some profit if it plays out how I expect. News on FCA granting permission is another 30-40% imo from these prices so fingers crossed
Which broker are you using Indigo? (HL.co.uk here)
Stock dried up, will take 100k on a dummy sell at 79.24 and Dummy buy not even a quote. Next leg up ….
Some really good buys going through again today. Struggling to break 80s though. A good new support here though and good weekly gains. I’m not
Moaning….honest ??
I'd just about given up on my modest position in JRS but was interested to see that it's the 2nd best performer in my pofo over the past month, up 21%. Still down 88% from the peak but it's nice to see a glimmer of life (or is that just the corpse twitching one last time before rigor mortis sets in ?)
Ok so it’s now been printed as unknown ha ha… and 3 hours later.
Games galore
3.5x more buys than sells today, without the trade I made at 11:13 this morning!!!!
I’m guessing the board have a strong feeling of positivity from FCA discussions about diversifying the portfolio outside of Russia.
So Un-transparent when brokers are not passing on the trades to the market! Let’s hope we re rate soon on next bit of good news
In one transaction so it should be easy to locate?
Anyone got any knowledge of the trade reporting. I purchased £68k today and it hasn’t shown on volume or the trade book? With HL? Every other trade has shown on trading view within a second of buying or selling. Something not adding her. Few times after I was unable to buy more.
I have set some buy orders for buying dips to add to my position.
I am glad that they are having so much trouble cancelling depositary receipts, because I don't want them selling out of Russia anytime soon.
If you look at the volume this week alone, it’s clear to see if someone is selling, someone is definitely buying.
In line with todays RNS, ii maybe loading.
Benifits of this would be the hope of a new cash coming In and investing in the emerging markets etc
BTW I looked-up City of London Investment's CIO on Linkedin. There were signs of wokery (e.g. Bill Gates as an inflence, pfff). I think that they will continue to sell.
Increasing investment outside of Russia. Can’t be a bad thing. Increasing the current 10% outside Russia with Emerging markets and rest of Europe. Let’s do this. Accumulating the last week and volume way above the averages. £1.25 back to please. Or shall I call £8. If only. Gla.
Great RNS. Knew someone was accumulating!
In response to the current closure of the Russian market, the Directors have considered options to preserve value for shareholders. Therefore, the Board is in the process of requesting authorisation from the Financial Conduct Authority (FCA) to amend the Company's investment objective and policies to permit investments in Emerging Europe (including Russia), the Middle East and Africa.
Gazprom DRs are the easiest to convert for most people, because they can use a Gazprombank account without full identity verification. Even just taking the Gazprom parts of the JRS portfolio and the cash, "converting" the DRs without any discount, I calculate well over £2 per share.
CORRECTION; the cash is 4p per share by my calculation.
I don't know either. But just taking their cash (or cash-equivalent*), I get 41p per share.
*(2,057,702 JPM USD LIQUIDITY LVNAV X (DIST.) 1,632,708.22)
Sorry, I don't know :-(
All I'm doing is posting the portfolio breakdown from 31st March 2022 that I downloaded from the JPM website a few months ago.
Looking at 31st March and 31st May spreadsheets I have suggests to me that Gazprom, Sberbank, Lukoil and Rosneft ADRs / GDRs / whatever they were have to a greater or lesser extent been converted to "common stock RUB" which I take to mean MOEX shares?
But I could easily be wrong, sorry.
Is the first of those two a depositary receipt position? What I found by googling 4364928 suggests that it is:
https://citiadr.factsetdigitalsolutions.com/stocks/profile.idms?pageId=15&subpageID=151&cusip=368287207
Seems to suggest the 14M Gazprom was all ADRs back in March?
hmmm, try this:
Holding RUB Price 28th May GBP 28th May GBP value Security Description
842,766.000 £- HALYK SAVINGS BANK OF KAZAKHSTAN JSC GDR USD
97,567.000 £- JSC KASPI.KZ GDR-REG S
4,198,000.000 3.39hkd £0.34 £1,423,122.00 UNITED CO RUSAL INTERNATIONAL PJSC COMMON STOCK HKD 0.656517
65,502.000 25.7eur £21.85 £1,430,891.19 NAC KAZATOMPROM JSC
1,851,004.170 £- £- JPM USD LIQUIDITY LVNAV X (DIST.)
14,225,993.000 294.500 £2.95 £41,895,549.39 GAZPROM PJSC ADR
16,810,961.000 121.000 £1.21 £20,341,262.81 SBERBANK OF RUSSIA PJSC
71,192.000 20,162.000 £201.62 £14,353,731.04 MMC NORILSK NICKEL PJSC COMMON STOCK RUB 1
624,696.000 4,290.000 £42.90 £26,799,458.40 LUKOIL PJSC ADR
3,719,692.000 401.000 £4.01 £14,915,964.92 ROSNEFT OIL CO PJSC
180,877.000 4,520.000 £45.20 £8,175,640.40 MAGNIT PJSC COMMON STOCK RUB 0.01
1,265,335.000 414.550 £4.15 £5,245,446.24 GAZPROM NEFT PJSC COMMON STOCK RUB
1,301,425.000 391.000 £3.91 £5,088,571.75 TATNEFT PJSC COMMON STOCK RUB
6,156,103.000 58.390 £0.58 £3,594,548.54 ROSTELECOM PJSC COMMON STOCK RUB
21,233,273,216.000 0.020 £0.00 £4,246,654.64 VTB BANK PJSC COMMON STOCK RUB 0.01
4,003,270.000 £- £- DETSKY MIR PJSC COMMON STOCK RUB 0.0004
169,819.000 £- £- YANDEX NV COMMON STOCK USD 0.01
432,517.000 £- £- MD MEDICAL GROUP INVESTMENTS PLC GDR USD
12,313,057.000 £- £- SISTEMA PJSFC COMMON STOCK RUB 0.09
230,421.000 960.000 £9.60 £2,212,041.60 NOVATEK PJSC COMMON STOCK RUB 0.1
577,525.000 £- £- FIX PRICE GROUP LTD GDR
75,226.000 £- £- TCS GROUP HOLDING PLC GDR
59,546.000 £- £- POLYUS PJSC GDR
275,182.000 £- £- X 5 RETAIL GROUP NV-REGS GDR
365,735.000 £- £- NOVOLIPETSK STEEL PJSC GDR
552,780.000 £- £- SEVERSTAL PAO GDR USD
Total portfolio £149,722,882.92