The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Charlotte Philipps, member of the Board of Directors of POG was a member of the Board of Directors of Geotech Holding too.
https://eutoday.net/nikolay-levitskiy-hong-kong/
On 19/04/2022, Gazprombank (under all sanctions) demanded that Petropavlovsk Plc immediately repay a loan of $201 million and asked for another $87.1 million on the credit line the next week. A little later, it was announced that Gazprombank had transferred the rights to claim a $200 million term loan from Petropavlovsk to UMCC.
Gazprombank is a consistent partner in numerous deals of Rosneft.
Ural Mining and Metallurgical Company (UMMC, under UA, US sanctions) is one of the largest industrial holdings in Russia. It is involved in mining and processing of ores, production of metals, metal products, copper, and other metals. The main owners of Ural Mining and Metallurgical Company (UMMC) are Andrey Bokov and Iskandar Makhmudov (under UA, NZ, UK sanctions) Both of them are long-time friends and business partners. Companies Profil and Okhotresurs own a huge amount of hunting ground in Tver region. Okhotresurs belongs to Transmashholding of Bokarev and Makhmudov. Transmashholding owns 66% of Profil. The hunting grounds are used for their personal hunting. But 33% Profil belongs through a chain of companies to Rosneft-Uganskneftegas - subsidiary Rosneft. Igor Sechin hunts on those hunting grounds of both companies Profil and Okhotresurs. There is located personal manor or Igor Sechin with the famous production a food from wild animals.
On 18/07/2022, Petropavlovsk Plc was forced to declare its own insolvency and decided to file for administration.
On 01/08/2022, Petropavlovsk Plc and its administrators entered into an agreement with UMMC-Invest JSC for the sale of the key mines and other subsidiaries belong to Petropavlovsk Plc.
On 05/09/2022, Russian President Putin, by his decree, authorised UMMC-Invest (UMMC-Invest JSC is part of the UMMC) to acquire the key mines and other subsidiaries belonged to Petropavlovsk Plc.
On 12/09/2022, UMMC-Invest completed the acquisition of the assets of gold miner Petropavlovsk Plc.
On 31/12/2022, The mines previously belonged to Petropavlovsk Plc produced 11.4 tons of gold in 2022.
Administrators sad in the last report that they completed the investigation into the conduct of the directors)))
On 16/07/2019, Roman Trotsenko (under UA sanctions) adviser to CEO Rosneft Igor Sechin (under all sanctions) bought a stake in the gold miner Petropavlovsk.
On 08/11/2020, Charlotte Philipps was appointed as a Non-Executive Director of Petropavlovsk Plc and as Senior Independent Director of Petropavlovsk Plc on 17/08/2020. She was simultaneously a member of the Strategy and Investment Committee of the Board of Directors of Inter RAO UES Russia's largest integrated utility company, from June 25, 2013, to May 28, 2021. Igor Sechin was Chairman of the Board of Directors of Inter RAO UES from June 25, 2013, to May 28, 2021 (information for 2022 was classified).
On 25/12/2020, Pavel Maslovsky, ex-CEO of Petropavlovsk, was arrested. The criminal investigation was based on the resolution of the chief of Department «K», Service economical security FSB RF, General-Lieutenant Ivan Tkachev. In many publications, Ivan Tkachev has been named as «Sechin’s personal guard». He and his son, Alexey, were accused of embezzlement by inflating (slightly over £1 mln.) the price of an office building and land in Amur Region, Russia.
On 16/04/2021, Mikhail Irzhevsky (under UA sanctions) was appointed as an independent non-executive director of Petropavlovsk Plc. Irzhevskiy previously worked for at Freshfields Bruckhaus Deringer LLP from 1999 to 2013. During this time, Partner at Freshfields Bruckhaus Deringer LLP served as a consultant to Rosneft on various transactions.
On 31/12/2021, Petropavlovsk PLC ended 2021 with a $10 million decrease in cash flow and a profit of $1 million (Management report April actual results and 2022 Forecast). No information about the debt refinancing process has been provided.
On 09/03/2022, Company Region owned by Sergey Sudarikov (under UA, UK sanctions) acquired a 29.18% stake in Petropavlovsk. However, in early April 2022, the deal was canceled. Company «Region» manages the non-state pension fund of Rosneft.