Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Ian
There are probably a number of longterm holders who have a significant holding that wished they had sold at 40p.
That said i would imaging those same investors never for one moment imagined there would be a 'special operation' plus additionally the messages from the company were always positive.
I personally think the noises the company are still making is that a deal will happen, but obviously is taking a far longer time than we all anticipated.
If/when a deal is announced at what price is the question.
Personally i was always perfectly content with a price of 80p-100p, in fact extremely happy.
Now i would be happy to take 40p-50p and the buyer would be getting a very good price at that amount.
So assuming if 40p-50p were to be the price that a deal was struck, then no need for longterm holders to feel that wished they sold earlier, they would get that price.
The issue will be that due to the situation with Ukraine it has resulted in the prospect of an extremely lucrative deal being scaled back, and these opportunities don't come along often.
Kira - You aren't listening!!!
Cash alone does not equate to a dividend being able to be paid.
For a company to pay a dividend it requires two elements, sufficient cash and sufficient retained profit on the company balance sheet.
Both are required, no offence but you are talking nonsense when just referring to cash.
Kira your not looney?
What so you say draw than on the loan facility in order to pay dividend...........lol thats a great one!!!
Or
Not realising a company requires sufficient reserves on the balance sheet in order for a dividend to be paid...........priceless!!!!
Cat - But a requirement of the AGM is notice of 21 days be given, as such I don’t see how it would be possible that the AGM will be held in June.
Anyway last comment by me on this, as in the scheme of things a short delay is not relevant.
Cat - I’m not familiar with all the regulatory requirements in regards announcing the AGM date, but like you state, a basic requirement is no later than 6 months post financial year end, in EUA case meaning 30th June.
Additionally at least 21 days notice is required.
One requirement of the AGM is the presentation of the financial statements to investors, this requires the issuing of those financial statements before the date of the AGM.
So to me I’m unclear how the AGM will be held in June, unless accounts finalized in two time and can a shorter notice period be used to notify investors of the AGM.
In all honesty I’m not that bothered about it, worst case I’d say AGM delayed by 3 weeks.
You can have all the cash in the world, but you need capitalized profit as reserves on the company’s balance sheet in order to pay dividends.
EUA will pay a dividend once those reserves are created, and that will only happen when the transaction completes.
The RNS states the annual accounts expected to be issued and published before end of June.
The AGM can’t be held before the accounts are issued, one of the requirements of the AGM is to present the annual financial statements.
I would suggest when the BOD are sure the statements will be approved and signed off a notification of the AGM will be issued.
I would suggest middle to last week of July will the AGM date.
Personally I can’t get to excited about it, but who knows, perhaps another four weeks will enable transaction to finalized and be incorporated in the AGM.
Stating the obvious, but some form of news/update desperately needed by the BOD.
Hard to believe after all this time we are still awaiting completion or even simply more details.
Extremely frustrating.
Surely even allowing for current Ukraine situation, any transaction must surely be in the region of £2B.
Interesting that a temporary suspension pending an announcement.
There’s been nothing leaked in recent days.
I believe there is a high probability that the announcement will be made today at some point.
This isn’t POG who initiated the transfer of the debt to UMMC, it was GPB.
GPB will now received the money due to them as per the RNS.
Going forward POG will make repayments to UMMC under the terms of the original loan agreement, which will include the term repayment dates as per the original loan agreement with GPB.
POG will have their advisers review the situation now to see what impact if any it now has on the company.
One thing for sure the off take agreement with GPB is now finished.
Now that is extremely interesting!!
GPB are assigning the debt to UMMC.
In order for the debt to be assigned by GPB, it would mean GBP being paid the sums stated in todays RNS.
Who is paying those sums due………….that is obviously UMMC, as the debt is being transferred to them.
Meaning POG liability is now to UMMC.
The off take agreement to GPB will now end and UMMC will take that on.
I’m not a holder, but have an interest in Russian stocks.
I interpret this as good news.
GPB term loans and loan facilities have now been transferred to UMMC.
UMMC will as such pay the amounts due on the dates specified in today’s RNS.
POG liability in respect of both the term loan and loan facilities transfers to UMMC as opposed to GPB.
I would assume that the terms of the loan is as per the original agreement with GPB.
The off take agreement would obviously have to transfer to GPB.
It appears to me that POG board were not fully aware of this, as the last sentence in the RNS.
UMMC now the off take agent for all the gold POG can produce?
Ural Mining Metallurgical Company (UMMC) – one of the top Russian producers of major commodities including copper, zinc, coal, gold and silver. Additionally UMMC produces lead, selenium, tellurium, cadmium and indium.