Member Info for big-blue

From what I can see, there is a major and significant attempt to mislead pis to believe a GDR option is in the bag. It is appropriate for pis to be aware of the source of the information. If the information is actually correct, then there is a major beach of disclosure rules and the listing will be at significant risk of suspension.

Critical information about any negotiation at any stage can not be leaked to selective limited outlets or individuals. Definitely way too dodgy for me to even think of day trading at this point.

dibs ... I am not the subject matter. Do not address me directly. Address the subject matter.

"Russian gold and silver producer Polymetal POLYP.L is negotiating with British authorities to keep its London listing in the form of global depositary receipts (GDR) after the company moves to Kazakhstan, the company's CEO told Reuters. "

As stated in the official REAL Q&A. So which bank is it NONE! The company is still only negotiating with "British authorities" - not with a bank.

The information claimed to have come from the company via a private email should be regarded as fake when compared to the Reuters summary.

"We are engaged in a dialogue with a bank, issuer/administrator of GDRs. They are evaluating our proposal. "

compared to

"The Company is currently working diligently to consider the feasibility of this option.
There can therefore be no certainty that the Company will proceed with, or ultimately establish, a GDR program."

So the company has jumped from merely considering feasibility to being in negotiations in2 days with no update or announcement. This is a major material change and extremely sensitive market information.

And people are to believe this very important update is handed out exclusively to a random individual? Pull the other one. This is a huge major update yet there is noting published by the company? A load of.......

Where is the link for these 'quotes'?

Why is this information not in the official company information?

I've always been very suspicious of these claims to have such important information only disseminated to private individuals via private emails and NOT published by the company.

We have a Q&A from the company, only a couple of days old, and only that can be trusted as information from the company It is absolutely correct to be highly suspicious of 'alternative' answers posted on a chat room with no reference link back to the company.

The only way information materially different to that published only a couple of days ago can be valid is if it is posted by the company on the company website or in a press release. It would be very easy to do and the fact it is not done is proof for me these 'alternative' quotes are fake.

"9. What are the obstacles that could stop the Company from establishing a GDR program?
The establishment of a GDR program is subject to applicable regulatory requirements, sanctions compliance and the willingness of a depositary bank to issue the GDRs. The Company is currently working diligently to consider the feasibility of this option.
There can therefore be no certainty that the Company will proceed with, or ultimately establish, a GDR program."

https://www.polymetalinternational.com/upload/ib/62/23-02-08/Re-domiciliation_QwA.pdf

9. What are the obstacles that could stop the Company from establishing a GDR program?
The establishment of a GDR program is subject to applicable regulatory requirements, sanctions compliance and the willingness of a depositary bank to issue the GDRs. The Company is currently working diligently to consider the feasibility of this option.
There can therefore be no certainty that the Company will proceed with, or ultimately establish, a GDR program.
Should the Company proceed with the establishment of a GDR program all steps will be subject to applicable regulatory requirements and shareholders will receive sufficient information at the appropriate time.
10. How would you exchange LSE-traded ordinary shares for GDRs, if this option is approved?
Should the Company proceed with the establishment of a GDR program, all steps will be subject to applicable regulatory requirements and shareholders will receive sufficient information at the appropriate time.

https://www.polymetalinternational.com/upload/ib/62/23-02-08/Re-domiciliation_QwA.pdf

GDR and alternative exchange considerations
8. What is a GDR, and will it provide the same rights to shareholders as the Company’s ordinary shares which are currently listed on the LSE?
It is a priority of the Company and its intention to seek a route to enable continued trading of its ordinary shares on the LSE following the re-domiciliation, either through the establishment of depositary interests or a GDR program.
A GDR is a financial instrument, which can be traded on a stock exchange, such as the LSE, which represents ownership of the underlying shares in a company. It is issued by a depositary bank which becomes the holder of record of the underlying shares. As distinct to depositary interests, it is the GDR itself which is listed on the Official List of the FCA as opposed to the underlying shares. In the UK, GDRs are normally established to enable holders to have equivalent exposure (voting and economic) to such underlying shares where such underlying shares would otherwise not qualify for trading in London.
Any GDR program which is established by the Company will seek to ensure that all rights and interests of shareholders (including voting and dividend rights) will not be materially affected.
There can be no certainty that the Company will proceed with, or ultimately establish, a GDR program.
Should the Company proceed with the establishment of a GDR program all steps will be subject to applicable regulatory requirements and shareholders will receive sufficient information on how to convert their holding into GDRs at the appropriate time.

https://www.polymetalinternational.com/upload/ib/62/23-02-08/Re-domiciliation_QwA.pdf

Anybody? Poly's sponsor for the LSE listing? Anybody know who it is? Could be a useful nugget of information, if you pardon the pun.

Who is the sponsor for POLY listing on LSE?

Who is saying Poly will be sanctioned?

They may be affected more than they are so far with extended sanctions. But I don't think I have heard anybody say POLY is likely to be sanctioned.

To clarify " big-blue keeps banging about split of Russia Kaz assets whilst maintaining primary listing in unfriendly jurisdiction like the UK",
I don't. After the presentation I concluded the LSE listing was lost and I sold up - not panic selling (wish I had and would have made a few bob).

In my opinion, delaying the split has resulted in this situation where a LSE listing is now effectively dead. The ant-split faction in the board room appears to be winning, either by numbers or 'force of personalities'. I think maintaining the business as a single entity long term is going to drag the company in to all sorts of 'toxic' asset problems and the BRICS new world order will not serve POLY well at all - by which time it will be severed from western money and insurance markets. Hence not somewhere I would trust money on a longer term basis especially any pension money. That is how I asses the risk. Others are clearly prepared to risk it in return for dividends that it assumed will be transferable to the west. Good luck.

Otherwise, there is plenty of unknowns and speculation to indicate this share can go volatile at short notice allowing some nifty day trading.BUT, this share, imo, may also be on such regulation compliance knife edge it might be suspended without warning so any day trading will be literal.

Good for you, and I keep telling people, for the good of the community, the chat is not about me - I am not the subject. Yet so many of you keep addressing, insulting, abusing, trolling me directly and personally. Get me out of your heads and start addressing what the company says if you can. I'm more concerned than flattered at this intense fixation for me some of you have developed.

[sigh]

I have no 'entry level' and I didn't publish the document today so I can not be accused of trying "to push the share price down in the hope of getting back in at your fantasy 10p level."

I even went so far as to cut and paste the words of the company so as not to be accused of paraphrasing.

Face reality and facts. Being angry and abusive at some stranger on the internet will not help you in any way shape or form. If you must only hear soothing words of comfort in some fantasy land, setup your own private echo chamber of ADVFN or join the Telegram ramp fest. Your consequences.

"And despite what big blue says"?????

What does big-blue say? Where did I say PIs are NOT "a significant player in the voting process"??

Where? Nobody has mentioned anything about the vote.

I've pointed out exactly what is stated in the latest info published by the company. Haven't said anything about voting anywhere. Only who is most likely to be able to trade given the complications that will exist once the delisting from LSE takes place.

You made up this voting lie out of thin air. And this is how it keeps going. Inventing bare faced lies to attack me personally with with.

And what do you think is going to happen with that? Are the words in the publication going to swap around and spell out a different story somehow?

I appreciate many are very upset and disappointed with how things are turning out and the mounting problems unfolding. But attacking me or blaming me is not only pretty stupid, it shows how much some of you have backed yourselves in to your own corner and refuse to acknowledge some plain home truths right in front of you.

It is you people who are desperately seeking validation of your own positions!

The mess does indicate it will be a pan-global ii share as opposed to a pi share. For those who have their pension funds managed for them it won't matter too much as long as the dividends can be converted to sterling without too much lost in taxes and fx along the way. That may reclassify the share from stable to a risk category and so be removed from many pension funds. So for iis like Black Rock to keep a sizable holding, they would need enough people to volunteer for higher risk portfolios. So it could result in BR reducing it's position - in fact that must be the case now, the stock must have now been classified as higher risk by BR and already moved out of a lot of managed funds. Interesting angle to consider.

I am pretty certain they will inevitably have to suspend the share in the not too distant future. POLY supporters have been holding on to the dream that the west will capitulate, Ukraine will be forced to surrender and within a a week or two all business with Russia will have been re-established as if nothing had happened. They have seen the problem all along as Ukraine stubbornly refusing to play along with the Russian imperial fantasy. And there are clearly people with that mind set in the boardroom who have stopped the company doing what many others did right at the start.

Although the penny has certainly dropped from the tone of the public interface over the last few weeks that the isolation of the company is actually a reaction to Russian aggression rather than an inconvenience caused by Kyiv, I still get the impression there isn't a full awakening in the boardroom and there are still voices holding out for a magic u-turn in geopolitical events - misplaced patriotism. I just can not see it happening. The company is being broken as much by the politics inside the boardroom as the situation outside.

Business is business and the business has not been run on at principle since the invasion. It has been and is being run on a sentiment. That has been the 'fatal' flaw and the situation looks beyond recovery for western investors unfamiliar with global trading.

"falling knife"

Tick.

There's a huge mega bright rainbow I can see on the horizon. At the base is a Telegram chat about POLY. Seems the Q&A is being hugely misinterpreted elsewhere and that in fact everything is just perfect, wonderful and everybody will be trading freely irrespective of sanctions, domiciles or the fact nobody in London (and almost everywhere else) will vouch for POLY.

So who do you believe? There are some difficult serious issues ahead or there is nothing to worry about and there will be hardly any disruption to existing trading?

What do markets love the most? Certainty or uncertainty? Sub 200 incoming me thinks.