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AT $8 divi, I will also quit my job.
Very cynical, over 1300+ individuals have been sanctioned over the UKR/RUS situation. I honestly feel like there is just a backlog with dealing with anything rather than adding to the list that portrays them as the 'good guys'. This individual case against EVR is a joke and the statement under RA on OFSI is still there as it was on the 10th March.
Rouble now worth more than it was pre-war. Crazy that it has doubled from lows.
RASP is up again on MOEX, MCAP 270bn roubles ~ £2.7bn.
I know we can't get too excited being suspended, but seriously when has anyone been in a stock where essentially a £2.7bn asset has been 'added back' to the company. IT IS HUGE but unfortunately (at the moment) it is also russian.
We can all dream of the RNS. Divi for those that held in suspension from both RASP & EVR.
Deepdive - I can see how you've calculated that (£1.50) by using the percentage gains on the suspended price but we were hitting 110p before the news hit on RA sanctions which knocked 25% off. So i'd be of the assumption 80% on 110p (192p + RASP). Conservatively see RASP in the current situation at 100p.
I think hypothetically if EVR unsuspended today it would be around 300p. Realistically I still think we will be suspended until the end of the war is near which (hopefully) should see a re-rate much higher to potentially (300 + 180) nearer £5.
I guess as shareholders we can only go by the previous statement made by the company. I'm disappointed because I believe suspended or not we have the right to know how the company is performing.
Basically.... EVR isn't a russian company, doesn't get any more complicated than that I don't think.
Surely that is fortunate not unfortunate. The price you bought at will never be seen again on re-opening.
Are you actually serious RASP is worth 292BN Rubles. Current exchange would give us £2.66BN we own 91% of this (£2.4bn). Alone without EVR it is worth equivalent today of 170p (not quite the 188p that was said pre-war for the value of de-merger).
170p added onto the value of whatever you thought this would potentially open up as of 1 hour ago. I thought 300p so 500p is definitely not lala territory.
DEMERGER UPDATE - PROJECT CANCELATION
1 April 2022 - EVRAZ plc (the "Issuer", the "Company") informs that further to the Company's announcement on 11 March 2022 regarding the suspension of the process of the demerger of its coal assets consolidated under PJSC Raspadskaya (the "Demerger"), the Company wishes to provide an update.
As explained in the Circular to shareholders published on 15 December 2021 (the "Demerger Circular"), completion of the Demerger was subject to the satisfaction of certain conditions. The General Meeting of the Company held on 11 January 2022 approved the Demerger which was conditional on the approval of the directors of the Company. EVRAZ Shareholders voted in favour of the Resolutions having considered the risks and uncertainties described in Part IV (Risk Factors) of the Demerger Circular.
In light of the unprecedented sanctions against Russia and Russian special economic measures in response to sanctions, which were outside of control of the Company, execution of the transaction became technically impossible and the decision has been taken not to proceed with the Demerger.
As a result, EVRAZ Shareholders registered on the EVRAZ Share Register at the Demerger Record Time will not receive their RASP Shares, the RASP Group will not separate from the EVRAZ Group and will continue to form a part of the EVRAZ Group.
As long as the RASP Group remains a part of the EVRAZ Group, the Company's shares will also represent an interest in the RASP Group subject to the Company's listing of shares being restored.
Terms used and not defined in this announcement bear the meanings given in the Demerger Circular.
WOW!!! De-Merger cancelled, MASSIVE NEWS!!
100% of my trading pot but I didn't remortgage.
Un-suspended during war - 175-200p
Un-suspended with war ended or nearing resolution - 325-350p
Just gut feeling and using a bit of common sense with RA, Pent up demand, divs and de-merger (may or may not be happening)
Interestingly RASP as of today is worth £2.8bn on MOEX today which we obviously own 91% of. So unless you value EVR steel and vanadium business at 0 we have a huge rise on the cards anyway, maybe not instantly.
Unsuspension could be hours, days, weeks or months away, we don't know.
BREAKING
Abramovich poisoning reports part of information war - Kremlin
The suspected poisoning of Russian billionaire Roman Abramovich at peace talks earlier this month has nothing to do with reality, the Kremlin says, according to Reuters news agency.
They say the story is part of an "information war".
The Kremlin also says Abramovich is not an official member of the Russian delegation in Turkey - although he has been pictured at the talks with Ukraine.
These sanctions are ridiculous.
Clarification regarding the coupon payment for the 5.375% Eurobond 2023 payable on 21 March 2022
21 March 2022 - EVRAZ plc (the "Issuer", the "Company") informs that it has made a regular coupon payment due on 21 March 2022 under outstanding principal amount of US$704,099,000.00 Notes due 2023 (the "2023 Notes"). However, as per communication from the Bank of New York Mellon, London Branch (the "Principal Paying Agent"), the amount is not settled up until today and remains blocked for compliance at the correspondent bank, Societe Generale New York.
Amid the unprecedented degree of uncertainty and due to the lack of feedback from relevant financial counterparties, regulators and advisors, in an effort to protect the rights of the Noteholders, on 16 March 2022, 2 business days prior to the deadline, the Issuer made a payment to the relevant account with the Principal Paying Agent in the amount of US$18,922,660.63 to fund a coupon payment under its 2023 Notes. The Issuer received swift confirmation for this payment.
The payment was stopped for compliance by the correspondent bank, Societe Generale New York. Over the course of several days, the Company put all its efforts to release the payment from correspondent bank to specified account of the Principal Paying Agent, providing all requested information concerning this payment, its economic substance and nature.
At the time of the release, the Issuer received a confirmation that by close of business 18 March 2022, the Principal Paying Agent has not received the payment. Based on this confirmation, the Issuer notified the BNY Mellon Corporate Trustee Services Limited (the "Trustee") about the Potential Event of Default as defined in the Trust deed of 2023 Notes.
The Company understands that the situation has its roots in the recently emerged uncertainties upon decision of the HM Treasury, Office of Financial Sanctions Implementation ("OFSI") to include one of Company's shareholders Roman Abramovich, owning 28.64% stake, in the extended sanctions list.
The Company continues to stand on the position that Roman Abramovich does not have effective control of the Company. This position was outlined in the press release published on 10 March 2022.
Furthermore, the Company believes that it is neither designated nor sanctioned. To provide comfort and certainty to all its counterparties, the Company has sought clarity and confirmation from Foreign, Commonwealth and Development Office (the "FCDO") and OFSI. Their responses are still pending. Separately, given the urgency of the matter, the Company has also approached OFSI and Sanctions Task Force of FCDO to provide clarifications specifically regarding the coupon payment.
The Company would like to highlight that apart from malfunction of financial infrastructure, there are no reasons for a Potential Event of Default. The Issuer has sufficient liquidity to complete the coupon payments. The Company is fully committed to put all eff
You can now spot the people that were here for the divi a mile off. They will sell tomorrow and move on with their life (37p/ps lighter).
The rest of us will wait for the dust to settle and get back to business. The divi adds more than half the MCAP in CASH back into the business, when the time is right that will be reflected not only in a divi but also the SP of the company.
Good News - Not particularly
Right call - most definitely
$1.33 live quote, still over 100p.
Money back on the balance sheet.
More auctions than dickinson's real deal.