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Hey, as a pretty hacked off investor I'd be keen if you could keep me in the loop on this thread or let me know the name of the telegram group as well. Am fully expecting the valuation of the assets post sale to rise very rapidly again and cannot see how this can be anything but a flagrant attempt to obtain assets at a knock down price when POGs own valuation in May had a 600m net asset position.
Agreed, we should be able to obtain a report from the takeover panel under Freedom of Information request.
I am waiting for FO to reply before I can take an ombudsman enquiry further...
I still feel more should be done with the sale to the main creditor/shareholder, using one hand picked valuation.
Any ideas on what we should do next??? Happy to collaborate and combine letters if it adds weight.
I think our case is stronger TBH. That was a case of 'buyer beware' ponzi scheme. In our case not only was POG still producing gold it had the POX Hub refractory ore processing plant. So whereas in the Panorama case there was no wealth , it was all fictitious we also have the fact that our own government created our predicament or the conditions that made it a gift to Putin's crowd. It's a sad story though and shows how toothless and pathetic our regulatory bodies are. They hound you with no mercy for penalty Charge Notices than they do with these crooks
Yes BBC Panorama : https://www.bbc.co.uk/iplayer/episode/m001b7jh/panorama-the-billionpound-savings-scandal?page=1
No not on telegram. I sent you my email, so we can continue to see this through.
Are you on Telegram?
Panorama, the BBC Panorama?
Lawrence if you have time to watch the panarama. It looks like a judge led enquiry led to compensation that was supported by MP letters. Given that the UK takeover panel was monitoring Petropavlosk Plc for some time, including stake building by main shareholder in 2020; then this is a paper trail here. What do you think???
I understand your pain. I will continue to pursue my claim with FO as without their intervention the situation would not of spiralled the same. The BOD were probably content with their FTSE250 listing and the benefits of being in the financial market but given the circumstances they would take the opportunity to exit.
Why do you believe OPUS are not impartial??? They are in London, looks like a big firm and detailed descriptions of the team on the website.
Finders I haven't a clue where to turn. The whole thing makes you feel you've been urinated on and mocked
Lawrence<< Sounds like the response I got, as certain companies are covered under the FSCS, however mining is not covered. They referred me back to the foreign office. This does sound somewhat ridiculous because it's a bit like we regulate the financial markets some of the time, but we let some companies do what they like and don't get involved in corruption, although we can log it for our database, remember to have a nice day...
Where does that leave us now then??? Are you still chasing FCA who was recently found to fail to regulate: https://www.bbc.co.uk/iplayer/episode/m001b7jh/panorama-the-billionpound-savings-scandal?page=1
Are you going back to the government???
lewis why are you here , you had no shares, you always defend Opuss and the BoD so what is you purpose, your game?
With me they couldn't even find POG . I have since been told they only deal with stockbroking firms and such enterprises.
This was my first reply, they had no knowledge of who Petroropavlovsk Plc were
Wed, 6 Jul at 12:27
Dear Lawrence Jenkins,
Thank you for contacting the Financial Conduct Authority (FCA) via email. Your initial query went to our Complaints team who’ve forwarded it onto the Supervision Hub to respond to you as we're the most appropriate team to do so.
I understand you have concerns about a London Stock Exchange Former FTSE 250 listed company called Petropavlovsk Plc, you've given information about sale of the firm and what you've called a boardroom coup. You've also said the share prices have dropped and that over the last 12 months two auditors have resigned as the firms external auditors, and that this causes you concerns. Thank you for contacting us.
What we do
I appreciate that you've asked if we can investigate, this being the case I thought it would be useful for me to give you an overview of our remit and what we do.
We're responsible for the conduct and supervision of regulated firms such as banks, building societies, insurers, investment firms and those offering consumer credit in the UK. We set the rules and regulations for authorised firms to follow in relation to their regulated activities; however we must remain impartial, this means we can’t investigate consumer’s individual complaints or disputes with an authorised firm, as we do not hold complaint resolution powers.
Petropavlovsk Plc
I've completed a search on our Financial Services Register, this is a public register of the firms authorised by us and warning pages for unauthorised firms. Based on the information you've provided, I've been unable to locate a firm called Petropavlovsk Plc which means they're not authorised by ourselves.
Market Abuse team
As your concerns are linked to the firm and what is happening to the share prices I've forwarded the information on to our Market Abuse team for their review. They do review all emails they receive about suspected market abuse. However, they operate under statutory confidentiality restrictions, and they do not provide feedback or confirm whether they are taking further action.
For more information please see our website page - How to report suspected market abuse as an individual
Legal guidance
As the firm isn't authorised our rules and complaints process will not apply, this being the case you may find seeking legal guidance useful. A good starting point can be Citizens Advice as they can offer free, impartial legal guidance to UK consumers.
Whilst I've been unable to assist you directly I hope the above is of use.
Finally, to help us improve our service, I'm interested in finding out about your experience with the Supervision Hub today. I’ll send you a link to a survey and I'd appreciate it if you could take a few moments to share your feedback with us.
Yours sincerely,
Kim
Supervisor / Supervision Hub
Financial Conduct Authority | www.fca.org.uk
Consumer Helpline: 0800
You couldn't make this stuff up: https://www.msn.com/en-gb/money/other/cineworld-group-handed-liquidity-lifeline-as-embattled-cinema-chain-is-granted-first-day-relief-by-us-bankruptcy-court/ar-AA11DG5F?ocid=msedgntp&cvid=3904cbe7010844d598d109c6b34af561
Lawrence what did the FCA tell you??? The UK takeover panel had been monitoring Petropavlosk Bod for some time, but lose jurisdiction in administration. The FCA referred me back to FO stating they don't cover gold mines. Doesn't some body have regulatory responsibility here??? The administrator's document's do not mention the process of raising finance (I understand problems with debt payment); however given that indebted exploration companies continuously raise finance, this is a BIG and UNDERSTATED element here requiring investigation, there should be clarification over why they could not go the markets to raise finance and negotiate. Otherwise they can't palm off responsibility either side of the continent with restrictions in UK and Russia.
Someone asked a question. Another person (myself) responded with the correct information. I would assume
anyone would actually prefer to know what is happening and what the process (not finished) is; rather than be left in the dark.
"scum", "conniving thief", "w----r", these are some of the names you've called either myself or others
for taking differing views to yourself. Every time someone posts a view you disagree with,
you seem to resort to personal insults.
If you've a problem with BoD/Opus/Government, take it up with a lawyer and see if you have a case, or not.
Why are you chiming in lewis as if Opuss is 'your friend' you know full well Opuss don't give a **** about the pi's. You are so eager for My Hayden to contact your friendly Opuss only to be told his fathers shares are worthless. Do you get a lick out of this
>"all I am not an experienced stock buyer, however my dad passed away, he has many share and a lot in POG.."
You can speak to: petroshareholders@opusllp.com
Opus are the firm handling the administration of POG.
They should be able to provide you details of the administration and what happens next.
Jcreek2020<< How low do you want to go??? Your mum must be proud...
Tiger we will be informed by administrators; there is still some due diligence and sources investigating concerns, so waiting game.
Hi all I am not an experienced stock buyer, however my dad passed away, he has many share and a lot in POG..and his shares were passed to us family to look after. I under stand that POG is no longer but is there anything I have to do /should do? TIA
Thought I'd see what jokers are still raging over here, and... Tiger is STILL hanging out making friends and influencing people! Hahahaha. What a chump.
Let's see.. "what does this mean for us as share holders ?" well, it doesn't matter how many multiples of 0p you hold, you still lost. Adios.
Morning all , i know this board is all most dead ... however I felt I would reach out to anyone who could shine some light on the latest update from admin ? , so the have made it clear that the sale between UMMC invest is now completed ...
what does this mean for us as share holders ?
Lawrence13<< What did you make of the latest documents from OPUS??? Sounds like their trying to palm off shareholders by blaming either side. Wouldn't you get more than one valuation???
If you made an official complaint, then you can take it further if you are unhappy with how a department handled it. I am waiting to hear from FO before I can take it forward, so it depends on outcome there. I will keep you updated.
Local St. Petersburg Deputies Urge Putin be Removed. From Kiev post. Believable??
https://www.kyivpost.com/russia/local-st-petersburg-deputies-urge-putin-be-removed.html
"I have also set up a parliamentary ombudsman enquiry"
How does that work?
Thanks for the update Lawrence. Unintended consequences is a phrase I coined in some of my responses, I have also petitioned things through my MP, and I've tried to point out the bigger picture here to the FO and am waiting a reply. I have also set up a parliamentary ombudsman enquiry.
It would be nice if something was to change the course with OPUS, but I have slim hopes there. In the meantime this waiting process is like watching paint dry...