Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
I do find it a bit crazy that people seem to be so upset with a company that is still paying an 11% annual dividend at current share prices, and that they aren't continuing on with a 30% dividend. While I can understand people who bought in at 1800 are upset with the share price loss, as you say, committing to the old dividend rates wasn't doing anything. I don't think for one second they suggested this share buyback including all the pre-work needed to do it with an expectation the price would drop again to under 900.
While your points you raise are valid, using pre-war, LSE premium listed, boom period price points for the valuations isn't a great strategy
@Jazzy, agree I think the iis would carry it, but for them to vote they would also need to see that AIX would still give the shares the visibility and credence required to see share price rise. Dividends are a nice bonus for them, but they wouldn't vote if they think the shares are going to be carried off to some backwater corner of the world compared to being on LSE. We may have different motivators, but the outcomes may be aligned here...
If my understanding is correct is that legally, it would be fine to hold AIX shares in an ISA and SIPP, however it's finding an organisation that will accommodate this. Furthermore, there are certain tax advantages that can be had (mostly on pensions) like the US form filled out to reduce the tax on dividends to 15%.
So we're looking to see if 1) Poly delists from LSE, 2) no DR/equivalent approach is made to allow trades/holdings via LSE, 3) a (relatively mainstream) broker supports AIX, 4) they support retaining the tax wrappers.
At the moment, making snap calls on where we end up on the four different questions above seems fairly silly, and perhaps once the dust settles we might see one or two brokers looking to set up the facility to support this as I imagine by the number of questions they're getting right now, they will be able to see the potential to acquire management of probably £10+m of assets.
Thanks John, that sounds much more like the Poly I've come to expect over the last year or so. I'm genuinely surprised at the level of drop, but I suppose based on the relatively small volumes being traded it's less an underlying view of the company and more day traders/panicked PIs leading to big swings
Cheers Watcher. Think that's one of the most eventful days I've seen on the markets!
Was anyone actually able to buy when it dropped to the 200-mark? I was working, keeping a bit of a stressed eye on it, and ii is usually pretty good for allowing trading, but the speed of the bounce makes me wonder how much PIs were actually able to do at that point.
I'm unhappy with where it's ended, but we've basically gone to the SP from a month ago, so frustrating, but not ridiculous if people were expecting dividends etc. I do think we need a pretty quick RNS after this though
0134, yes, that's something I was looking out for too, but no mention of it as far as I saw.
Overall, I think not meeting the optimistic hopes of a lot of investors who were hoping to have essentially fully recovered from the war, but all trendlines (barring AISC, I'd like to hear more about that) are positive, and ultimately I welcome the transparency of the BoD and corporate news here. Having invested in Pog (ha!) and having a small amount in Caracal, it's great to see the info and the caveats made around it for clear uncertainties.
Lawrence, apologies for the delay - have got on Telegram and am Feblatom
Hey, as a pretty hacked off investor I'd be keen if you could keep me in the loop on this thread or let me know the name of the telegram group as well. Am fully expecting the valuation of the assets post sale to rise very rapidly again and cannot see how this can be anything but a flagrant attempt to obtain assets at a knock down price when POGs own valuation in May had a 600m net asset position.
90% poly, 10% pog. Wholly russian based assets and no dividend will likely halt the pog recovery at some point, not to mention the infighting within the organisation. Pog also far less market savvy - Poly has been quick to communicate and identify risk - major concern was the whole board resigning en mass but that seems to have been political rather than inappropriate activities. Potential huge upside on pog but I'm sure that people thought that at 25p, and look where it's at at the moment.