Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I couldn't find the 138k in an RNS. He could have bought them, but why? He already had millions of them.
Best case scenario is he is just skint and quickly needed £8m. Not sure how that could possibly happen. Those shares could have been worth £27m+ within x days/weeks. Surely he has other assets?
Worst case, the FSP is falling and he knows this. Transferred the shares to an acquaintance and they can now hit the market and be sold just before the FSP formally fails. He then walks away with a few million to show for his non-paid work.
Either way, it's sheee ite.
I considered this. The problem is that Venus had 27,262,814. He sold 27,400,000.
Where did the extra ones comes from? It was it this point I realised he sold 0.99% of the company and that number seemed a bit too exact to be an accident.
If it was just 27,262,814 sold things would be a lot more interesting, in a good way.
PiFace,
Veles International are a subsidiary of Veles Capital.
From what I saw Veles Capital have about $5m in the bank, Veles International have $17m.
Unless I am really badly interpreting their financial documents (I'm an MD, I know balance sheets) neither is in a position to buy these shares. It's just unthinkable that a bank would be that exposed on one stock.
No ulterior motive. Genuinely, I'm just a long-ish term shareholder and I don't trade, I suck at it.
Make up your own minds, https://veles-international.com/assets/content/Veles%20Pillar%20III%20Disclosures%202019_v13_no%20audit%20opinion.pdf
Selling 0.99% of the shares means they do not need to be named. Veles do not buy and hold shares, they buy shares for clients. They are a broker. We do not know which client now has the shares.
EUA said themselves they are still looking into this. From the RNS "The Company is continuing with these enquiries." They are obviously not happy with it either.
I already have.
Veles are not an II, they are a broker. They have USD17 million in cash, going by the accounts on their own website. I do not think they bought the shares themselves. They bought for someone else.
As the holding is just under 1%, it's the most shares that could be anonymously taken out of the FSP and then sold direct to the market.
Does that not sound particularly fishy to any of you?
Blackrock are buying for an index tracking fund. They HAD to buy EUA regardless and they have to keep their index tracker balanced.
As to why I am here, I've been here since late 2019. I spent many hours looking into Veles and their board last night and found some interesting stuff. Others may want to take a look too. I like EUA but the sale by Alexei isn't sitting well with me.
I do, genuinely, hope your investments work out as you all hope. We're all here to make our lives a bit better.
Show me where it says you have to be a holder to post here? Instead of having a go at me, spend your time looking into Veles.
I have no gripes with anyone here, decent company. To me, this has now changed from investing to gambling and the risk/reward ratio has changed. That's all.
https://veles-international.com
The answers to your questions are all on that website.
"The Company notes that the acquisition by Veles evidences interest in Eurasia among institutional shareholders. Veles is a well-established and one of the oldest professional institutional investors in Russia."
Veles International are 25 years old. We forget Russia is a young country. This is not Coutts we are dealing with.
From the documentation on their website, they have cash reserves of USD17million. Would they spend so much of that on EUA shares? Also from their website, they are VERY risk averse. They also don't appear to hold any shares themselves. They are not an II.
They do, however, specialise in transfers and brokering deals for others, in a discreet manner.
Alexei sold 27,400,000 shares. Exactly 0.993% of the company. Why just under 1%?
I don't think Veles bought these shares themselves, so who did and where are they now? Are they dripping into the market?
Another thing of concern was peoples inability to understand "confirming West Kytlim's position as the world's largest operation of this type" in the DFS. This does not mean much, West Kytlim was previously the largest ALLUVIAL PGM mine in the world. Those of you looking at Mogalakwena and thinking we are larger are idiots.
Too many dodgy looking goings on here so I took my profits and walked the plank this morning, whilst we await further clarification of this.
Has anyone else looked into what Veles Int and Veles Capital do and how much money they have?
https://veles-international.com
Was it BlackRock that got it in at 38p?
I am 100% certain that a sale will be more than the current SP, hence why I've been in for well over a year.
I am not 100% certain of a sale happening, in which case I average down, if possible and wait.
That's all I know and until the end I will ignore all the weird valuations.
Depends how it happened.
Veles either called Alex up with an offer out of the blue.
Or Alex had to pay a bill owed to Veles in a hurry.
(I have no knowledge, I've just been considering how such a scenario could occur quite so , seemingly, rapidly.)
Gecko & Gary,
Why are you giving strangers on the internet any kind of adulation and/or putting them on a pedestal? Anybody can make up mad figures that promise you that you'll be rich. These are the people to be most wary of.
Anyone with any sense in this share, has been holding since <3p, already has sold some for a profit and can now sit back posting wild valuations on here. Absolutely risk free. The ones lapping it up, buying in at 25p+ are practically begging to lose money.