Member Info for EdGasket

You've got two hopes, and one of thems Bob

RE. 'A bit board now'

..you mean like a plank then?

BBC news:
"Meanwhile, the London Stock Exchange (LSE) has suspended the shares of 28 Russian-linked companies because of sanctions introduced following the invasion of Ukraine.

They include green energy and metals company En+ Group run by US-sanctioned oligarch Oleg Deripaska, which is chaired by Conservative peer and former energy minister Greg Barker.

The decision to suspend the listings "has been based on sanctions and the ability to run an orderly market," said LSE chief executive David Schwimmer.

"If we see any other any other securities affected by sanctions then similar actions will take place."

Last week, a subsidiary of Russia's second largest bank, VTB, was suspended on the LSE as a result of sanctions.

However, a number of Russian companies, including Roman Abramovich-backed Evraz, continue to trade on the stock market despite criticism from politicians. "

No I didn't.
If you read my post correctly, I said there was no reason for the share to go down tomorrow (matching that day's trading) and I was correct, it ended up. I never claimed I was long term bullish; I only trade.

No director buys at these fire sale prices? Says it all really.

Also they should have announced a share buyback instead of a dividend; would make much more sense and show confidence in the business. These are rapidly becoming untradable and worthless.

Doesn't make much sense. Think both are trading more like meme stocks now i.e. no idea what real value, if any, should be.

perma.bear, do you like picking arguments? I never said either of what you claim and I challenge you to produce the post where I said it???

The board were asked this and replied that it was their job to manage the company, not the share price.

But I'd have thought a share buyback at these prices would be the smart thing to do assuming they believe in the company like they say?

They said operations continue; no standing down oilheadgame; where do you get that from?

They say they will not have a problem paying the dividend but reserve the right to amend/cancel.
They say delisting is a possibility but an extremely low one in the board's opinion. They are listed on three exchanges; no shareholder has > 5% according to the answer to the question; therefore no reason for POLY to be targeted.

Yes you are missing:
1) Confiscation of assets by Putin in retaliation to western sanctions
2) De-listing or suspension of trading in Russian companies by the west
3) Interest rates rising on POLY debt
4) General logistical and operating issues caused by sanctions

The biggest risk and hence the huge discount is probably due to number 1 imho

Short am, long pm - gotta love this share.

Not so FXPO; a one way escalator down there.
Not expecting sanctions to directly be targeted at Poly but there could be some knock on effects from Russian sanctions but mitigated by the improved gold and silver prices.
Results on the 2nd Mar shud be gud.

Oh not more scare mongering; give it a rest.

'No reason it should' (go down); as I said; all priced in. Poly up 2.8% on the day; nice.

Slater606 - you've been going to the wrong school or ate the wrong crayons yourself.

Someone had better wake Joe up then

And you must have missed the news around midday yesterday that caused the drop. No reason to expect that today's trading should parrot yesterday's; about as schoolboy as it gets

Down 3.2%; hardly 'smashed' as some alarmists predicted. A lot of negativity was already priced in. The west realise they need to trade with Russia; there will be the usual bluster but not much action in response.

No reason it should

So what are the sanctions that might be taken that would hurt a UK holding in POLY? If Russia grabs our shares then they would never be able to raise international investment again which would hurt them more than us.

You might be right but the pessimism seems unjustified. The fear is a sudden halt to trade on the LSE but why would the UK do that? It isn't going to hurt Polymetal or the Russians, only UK shareholders, funds and pension funds.
IMHO the only action that might be taken is to prohibit further equity raises by Russian companies on the LSE. Anyone have a view on this ?