Member Info for alex1978uk

Looks like they are going after Zhevago.

https://biz.liga.net/en/amp/nedvizhimost/news/supreme-court-allows-nbu-to-sell-kyivs-osnova-business-center-to-recover-zhevago-debts

One day this war will be over. How Putin thinks he can turn this round is unbelievable.

https://meduza.io/amp/en/news/2026/06/01/bloomberg-russia-s-top-financial-officials-privately-tell-putin-defense-spending-is-unsustainable

The specified claim of the Deposit Guarantee Fund is based on materials, documents and evidence collected earlier during the preparation and consideration by the High Court of England and Wales of the case on the Fund's claim against the owner of the bank.

In this case, the English court recognized that there were sufficient grounds for the worldwide seizure of K. Zhevago's assets, and received his written commitment not to evade participation in the trial.

https://metallurgprom.org/en/news/ferrous-metallurgy/print:page,1,20675-sud-ostavil-pod-arestom-ukrainskie-aktivy-zhevago.html

This ain’t looking good;

https://ua.news/en/ukraine/kniaziev-viznav-otrimannia-khabaria-vid-zhevago-ta-dav-svidchennia-proti-suddiv-verkhovnogo-sudu

This is ridiculous. It’s not a matter of if any more. It’s a matter of when. The Russian scum fall.

https://youtu.be/co8o-h62J20?si=4FMj7odUv0EiwaqC

What a mess he’s got himself into;

https://united24media.com/war-in-ukraine/there-are-no-safe-roads-left-for-russian-logistics-near-mariupol-azov-says-19134

His end must be near. We need these to refloat before putin gets what’s coming to him. I can’t see Zhevago putting up 50% though if he thinks he’s going down. Putin falls the Ukrainians will go after anyone and everyone afterwards.

Https://www.theguardian.com/world/ng-interactive/2026/may/24/there-is-profound-disappointment-in-him-mood-in-russia-turns-against-putin

Https://ua.news/en/ukraine/suddi-verkhovnogo-sudu-obrali-zapobizhnii-zakhid-u-spravi-zhevago

The Agency is seeking managers for Zhevago's real estate and a business center owned by sanctioned Russians. The seized assets must work for the economy of Ukraine.

https://unn.ua/en/amp/arma-announces-tender-for-management-of-zhevagos-assets

Https://kyivindependent.com/ukraine-expands-supreme-court-bribery-probe-tied-to-oligarch-zhevago/

https://babel.ua/en/amp/news/127096-nabu-and-sapo-declared-new-suspicions-against-supreme-court-judges-in-kostyantyn-zhevaho-case-upd

How much longer can this pointless insanity go on for?

The HANetf Ukraine Reconstruction UCITS ETF (UKRN/KYIV), launched on March 11, 2026, is the first ETF dedicated to supporting Ukraine’s long-term economic recovery, targeting sectors like infrastructure, energy, and defense with €8m in initial assets. Traded in EUR on the London Stock Exchange and other European exchanges, it focuses on European and global firms involved in rebuilding efforts, with capacity for Ukrainian companies.

The HANetf Ukraine Reconstruction UCITS ETF (ticker UKRN), launched last month in London, has officially added the first three Ukrainian companies to its roster - drone software developer Swarmer, telecom operator Kyivstar and iron ore miner Ferrexpo.

But for Ferrexpo, the move changes little in the near term: while the shares remain suspended, an ETF position is more a nod to long-term potential than a source of immediate liquidity. With reconstruction costs already estimated at more than €420 billion, the thematic fit is clear — but survival comes first.

https://logos-pres.md/en/news/london-stock-exchange-adds-first-ukrainian-companies-to-reconstruction-fund/

https://www.ad-hoc-news.de/boerse/news/ueberblick/ferrexpo-caught-between-etf-hopes-and-a-17-million-cash-crunch/69308789

Lots of rumours/signs coming out of Russia that things are a miss. It must be dawning on them their war aims are not achievable. Almost all of Russias reserves are either gone or frozen abroad, million plus dead or wounded. We need FXPO shares to float again before the end is here.

Https://www.reuters.com/world/europe/putin-says-he-thinks-ukraine-conflict-is-coming-an-end-2026-05-09/

Https://www.ad-hoc-news.de/boerse/news/ueberblick/ferrexpo-s-cash-dwindles-to-17-million-as-legal-woes-and-war-block-a/69285130

There you have it, stated plain and clearly. VAT with held because of the companies association with Zhevago.

The withholding of VAT refunds has continued in 2026 to date. As at 31 March 2026, the Group's net VAT receivable balance in Ukraine was US$90.3 million. Of this amount, as at date of this announcement, US$78.9 million had been claimed for refund from the Ukrainian tax authorities for the period from January 2025 to March 2026, and US$69.4 million of the refunds (representing the period from January to December 2025) were refused by the tax authorities in Ukraine because of the association of the Group with Mr Zhevago as a consequence of personal sanctions imposed on him by the Ukrainian authorities.

Whilst the Board and its advisers are progressing the work required to achieve the timetable set out above, in the event that the Intended Fundraise is not launched and the bookbuild completed by no later than 30 April 2026, the Company expects that its shares will be suspended from listing and trading with effect from 07:30 (UK time) on 1 May 2026 until the audit is completed and the 2025 Annual Report and Accounts are published, which itself will require the execution of an appropriate funding solution in order for the financial results to be prepared on a going concern basis.

In such a scenario, there can be no certainty as to the expected timing of the lifting of the suspension of listing and resumption of trading of the Company's shares, if at all.

That doesn’t sound good

Scenario 1 — “Clean” institutional placing (base case)

Discount: ~10%

Placing price: ~39p

Maths

New shares issued: ~205m

Pro‑forma shares outstanding: ~803m

Dilution to existing shareholders: ~25–26%

Interpretation

This is the most common UK placement outcome.

Discount is enough to clear the book quickly without panicking the market.

Likely requires Fevamotinico to participate to avoid control issues.

✅ Most likely scenario

Scenario 2 — Higher discount due to stress / weak demand

Discount: ~20%

Placing price: ~34p

Maths

New shares issued: ~235m

Pro‑forma shares outstanding: ~833m

Dilution: ~28%

Interpretation

Used if:

Market volatility spikes

Concerns over Ukraine risk dominate

Anchor demand is weaker

Stock may trade down to or below placing price in short term.

⚠️ Possible if sentiment deteriorates

Scenario 3 — Supported deal with cornerstone participation

Discount: ~5%

Placing price: ~41p

Maths

New shares issued: ~195m

Pro‑forma shares outstanding: ~793m

Dilution: ~24–25%

Interpretation

Requires strong cornerstone support (likely Fevamotinico).

Signals confidence and helps stabilise the post‑deal share price.

Harder to execute in current conditions, but not impossible.

✅ Bull‑case scenario

Scenario 4 — Upsized or “emergency” raise (bear case)

Raise: US$125–150m

Discount: 25%+

Placing price: ~30–32p

Maths (for US$125m @ 31p)

New shares: ~325m

Pro‑forma shares: ~923m

Dilution: ~35%+

Interpretation

Only if:

Liquidity window narrows

VAT refunds remain blocked

Lenders or suppliers apply pressure

Short‑term survival prioritised over valuation.

🚨 Low probability unless conditions worsen

What matters more than the exact price

Does the 49% holder take up shares?

If yes → tighter discount, better aftermarket.

If no → deeper discount almost guaranteed.

Is the raise exactly US$100m or upsized?

Upsize = more dilution, weaker share‑price reaction.

UK placings usually avoid these, but stress can change terms.

Https://united24media.com/latest-news/european-union-set-to-greenlight-eur90-billion-funding-package-for-ukraine-this-week-18076