Member Info for alex1978uk

In comparison to the last RNS in relation to Blackrock on the 17th July, % of voting rights attached to shares has been reduced from 4.947189% to 2.67%. Percentage of voting rights through financial instruments has increased from zero to 2.34%. Looks like they are hedging against risk/volatility to me.

But yes Evanescent you are correct they have moved up above 5% again. Hopefully we have reached the bottom. I'm more worried about the global and Chinese economy and the knock on affect to commodity prices. Ukraine making small gains on the ground. Lets hope its the start of something bigger to come.

Do they? Looks like they are reducing their position and have been for a long time.

Ukraine suspends top legal official over corruption claims

The head of a senior judiciary group in Ukraine has been suspended on suspicion of taking a bribe to swing a court case in a business's favour.

Ukraine's High Anti-Corruption Court has suspended Oleksiy Salnikov from his important role as the head of the State Judicial Administration until 24 September.

The court was set up by former Ukrainian president Petro Poroshenko in 2019.

But tackling corruption has been a key part of Volodymyr Zelenskyy's domestic policy throughout the war - he's repeatedly said anyone involved in corruption in wartime is effectively a traitor.

Accusations of corruption in the Supreme Court have rumbled for months. The chief justice was arrested in May on suspicion of taking a bribe of more than £2m.

Mr Salnikov is accused of taking a much smaller bribe - just under £6,000 - in May this year. Prosecutors allege the deal involved keeping some of the money for himself, and giving £4,000 to judges for a decision in favour of a particular business.

The State Judicial Administration was originally set up in 2010 as the equivalent of a government ministry to support the country's complex court system. It's now the main supervisory body for judges in Ukraine

Https://www.investorschronicle.co.uk/news/2023/08/03/ferrexpo-makes-progress-of-sorts-as-war-rages/

Https://kyivindependent.com/nabu-zhevago-suspected-of-bribing-supreme-court/

Carnage everywhere.

The only thing that will move this stock is some kind of end to hostilities. That could be next week or next year. Who knows?

there are media reports that some investigative actions are also being carried out against some other judges who were involved in this litigation case. if the ukrainian anti-corruption court concludes that a judge received a bribe for the favourable decision in this case, and such verdict of the anti-corruption court remains valid after potential appeal, then the claimants may apply to the supreme court to review the court decision on 40.19% of the share capital of fpm due to exceptional circumstances. as of the date of the approval of these interim condensed consolidated financial statements, no allegations have been made against the group in connection with the alleged bribery and it is currently not possible to anticipate future developments in this case with any certainty.

if the case were to be reviewed by the grand chamber of the supreme court once again, management still remains of the view that *** has compelling legal arguments to defend its position. based on the legal considerations and arguments in the case and taking into account the advice received from the group's legal advisors, the group remains of the view that the decision should be in favour of the group, but there is a risk that the independence of the judicial system and its immunity from economic and political influences in ukraine is not upheld. a hypothetical reversal of the decision by the grand chamber of the supreme court of ukraine would result in the loss of a significant proportion of the group's main operating subsidiary in ukraine and would have a material adverse impact on the shareholders' equity attributable to the shareholders of ferrexpo plc. due to uncertainties, it is currently impracticable to reasonably estimate the financial impact, but it could be material. a negative decision could also have an impact on potential future dividends from fpm to *** and, as result, on the distributable reserves of ferrexpo plc (see note 9 earnings per share and dividends paid and proposed for further details). no non-controlling interest has been recognised as of 30 june 2023 because fpm remains wholly owned by *** as at the date of the approval of these interim condensed consolidated financial statements. it is management's view that a hypothetical reversal of the decision by the grand chamber of the supreme court of ukraine will not cast significant doubt on the group's ability to continue as a going concern. however, such a decision might complicate the daily business of the group's major subsidiary in ukraine, as the intentions of the opposing parties are not clear at this point of time

As referenced in the Group's 2022 Annual Report and Accounts, there are outstanding matters in Ukraine relating to the Group's controlling shareholder that remain unresolved, and there is a risk that assets owned or controlled (or alleged to be owned or controlled) by him may be subject to restrictions, in Ukraine or elsewhere, or that the Group may be affected by or become involved in legal proceedings relating to these matters, in Ukraine or elsewhere.

As a consequence of events relating to the Group's controlling shareholder the Group may experience adverse effects, such as negative media attention for the Group, a reduced ability to operate within Ukraine and/or overseas due to negative perceptions of the Group, and a restricted operating environment for aspects of the Group's business, such as closure (or suspension) of relationships with stakeholder groups such as banking services. In addition, restrictions imposed on the Group's controlling shareholder (and/or negative perceptions of the Group's controlling shareholder) may potentially adversely impact the Group within Ukraine, with a restriction on the Group's ability to successfully operate its business model.

The Group is subject to a number of actions by the government of Ukraine that threaten to destabilise, or have the effect of destabilising, the operating environment in which the Group exists.

Ukraine is targeting Russian positions and equipment behind Russian lines. Russia is targeting civilians and grain. Just goes to show how desperate they are getting.

Good write up

Who knows what goes through the twisted mind of the Kremlin. Bots are all over the internet spreading the Kremlins lies and bull*&.t propaganda. Usually in the form of Ukraine being the aggressor and how poor old Russia had no choice but to invade them and murder thousands of people. Apparently the solution would be for Ukraine to essential surrender and give up some of their territory. Like any other country would do that.

He's starting to sound like one

krok from the last production update q2 production was 1.066 million tones. if that's what we can expect that averages about 4.264 million tones pa, 2021 production was 11.2 million tones so we are only producing about 38% of the pellets pre invasion. i would assume the other export routes are less profitable that the traditional ones via the black sea. share price reached a high of around £4 in 2021, 38% of that is 152p.

back of the *** packet calculation i know but i'd say the share price is about where you'd expect it to be. obviously as fxpo is only iron ore focused the share price is massively effect by this and the global outlook for the price of iron ore. more negative data coming out of china today is not going to be positive for the price of iron ore. i think we will only see a significant rebound with some kind of conclusion to hostilities and a better outlook for the global economy. we can only speculate on these issues. long term i hope we will be rewarded but i would have probably said the same thing last year.

This war is absolute insanity now for Russia. Generals either getting killed or speaking out, soldiers posting online how desperate things are, NATO expanding, Ukraine now on par in terms of armour, etc etc. How Russia think they can advance from here is ridiculous. The only thing stopping Ukraine now is mine fields. Russia is just hanging on and Putin is making every mistake every dictator before him has made. Surrounding yourself with idiots and refusing to listen to reason to name just one.

I think the Ukrainians are doing exactly the right thing in taking their time with the counter offensive. Slowly wearing the enemy down. Some of which haven’t been rotated out for a year now. Hitting targets well behind the front like. Exactly what they did before the Russians pulled out if the Kherson region last year.

I think the end maybe getting nearer than we may think. GLA

If the war ended tomorrow I can’t see the dividend being reinstated any time soon. If it is I can’t see it being anything like it was pre invasion. Hard to justify sending money to foreign investors when Ukraine needs investment and is in debt for generations.

It’s hard to call in relation to FXPO. In one sense this is exactly the kind of company Ukraine would like to attract in the future. Well run, transparent and in line with western and European standards. On the other hand the largest share holder is an oligarch the Ukrainian government wants to reign in. I think the post occupation future for this company will be different from the past. I hope the Ukrainian government are sensible about how they go about things and not just trample over the private investor. DYOR

Going from the last results they are restricted in what they can export because of the Black Sea ports blockade. I can't see more than 2 pelletizers being up and running until there's some kind of conclusion to the conflict. I agree plenty of upside but not until the war is over.

Russia are pulling their troops off the border with China in the far east and sending them to Ukraine. Then giving them T55 tanks. If they’re lucky. That’s how desperate they are getting. Sooner or later the Ukrainians are going to break through and FXPO will turn like it did last year. Point the heavy weapons and Crimea and it’s all over for the Russian rabble and the weasel in the Kremlin. GLA

That's a risk you take and have been taking since the 24th February last year. If its not for you its not for you.

I'd guess the significant reduction is due to reduced output. Less people working less hours will result in less hours lost to workplace accidents.