Member Info for ChrisToffer

If it was in the afternoon close auction then any sell, including those at 121p, got matched.

If the UTwas 121 thats just the closing match in the auction. You can read into it both ways folks. Try and have the weekend off and let's hope for peace for the ordinary people of Ukraine and Russia.

Yesterday's news too ffs

Volume has died off. Need the broker to turn on the taps again. Whenever it does happen I'd expect them to let the big boys get there first.

FTSE Tracker funds are subject to the same reporting rules as any other major shareholder. There are none above 3% that I can find so I doubt therell be much selling pressure left from them.

'The assumption is that until such time as liquidity (the ability to trade) returns, the shares will remain deleted until further notice'

Its got nothing to do with liquidity. The share is currently tly smashing the minium liquidity test that FTSE Russell clearly documented.

The problem is that the volatility of these shares is dragging the the entire index all over the place. On top of that, the big boys aren't allowed to buy in due to corporate and social responsibility so it makes more sense to removed it from the indicies and give the share a good kicking.

As soon as they can buy again they will come pouring into this because at the end of the day its mining Gold.

Gold!

Polymetal is 1 of over 2000 companies listed on the London stock exchange.

Only around 600 of those are on the FTSE indicies.

Jeremy, you just have to review the TR1s. Etfs and funds that track the FTSE would need to declare any holdings over 3% (5% in US)

Also, a few people concerned about a drop off on Monday for some reason. FTSE Tracker funds and ETFs are subject to the same reporting requirements as other major shareholders. Poly are not that exposed there.

Thanks for the links to these articles. Some are going to great lengths to call this company's position into question.

You'd almost think Poly mined a valuable commodity.

Thanks offmessage, is that 90m in sunk cost or a 10% sell off due to funds having to sell out?

Btw I've spoken to IR about this and they're consulting their legal councel on their options.

Aside from Blackrock, no ETFs or funds hold greater than 3% of Poly anyway so I think the impact would be minimal however I do believe the company has a right to appeal this decision and to be honest, it stinks of gamesmanship or grandstanding because there's plenty of stock moving around on a daily basis.

I really don't get how FTSE Russell have applied this. It sound like they've been given a nudge from some of the big boys amd have acted based on no calculation. This is their own guide and Poly is still smashing liquidity requirements despite some brokers not allowing trading

https://www.google.com/url?sa=t&source=web&rct=j&url=https://research.ftserussell.com/products/downloads/Guide_to_Calculation_Methods_for_UK_Liquidity.pdf&ved=2ahUKEwiw7IyorMb2AhVailwKHbWZDTQQFnoECAQQAQ&usg=AOvVaw2ixCPUtVSeECUhXjpb-XrI

Hi Tony, how come you think liquidity may dry up? Daily Volume has been well up despite some international brokers limiting trading.

The FTSE Russell liquidity test says they must trade at least .025% of their free float adjusted shares for at least 8 of the 12 months prior to a review. Thats less than 10m shares a month.

I'm not sure how they'd fail to pass that test unless all broker stop trading but the company is NOT being sanctioned so I don't see how they can.

Norbert, "I don't think those brokers will be coming back to the party, it'll only mean more follow their lead."

Why not? If sanctions get lifted tomorrow or Polys position clarified (ie it becomes clearer that they're not subject to sanctions) there no reason why brokers would not allow trading on a share that continues to be listed on the LSE.

Halifax continue to allow trading and if they decide to stop ill be asking them for written justification why Poly aren't being allowed to trade when they, and their majority shareholders, are not on ANY sanctioned list

Skymonkey, the FTSE Russell decision its not gonna affect your brokers stance on whether to let you trade Poly shares or not. Thats up to your broker and if they were gonna stop you trading they probably would have already.

Todays move by FTSE Russell is an effect (not a cause) of other brokers not allowing Poly shares to be traded, therefore reducing liquidity.

Investinvalue, The FTSE isn't an exchange you absolute weapon.

Read the RNS that just came out.

Investinvalue, they will be traded on the London stock exchange and any decent broker will allow you to trade their shares.

Yea, sorry to anyone who listened to all the w@nk5rs this morning saying the company value would go to 0. You just got robbed of your shares because you were unable to properly read or research what that news report meant.

Back up the SP goes to maintain the uptrend.

A lot of IIs have already been forced to sell by the same red tape thats stopping brokers from allowing the share to trade.

This is all good for PIs.

Being removed from the indicies is NOT the same as being removed from trading on the London stock exchange.

Im amazed at the amount of people who cannot read or do some simple research to understand what this means.