If they are going to use shares to acquire the remainder of TEMI . I wonder what they are going to do with all the cash they have generated over the last 6 months or so? Small divi perhaps and expansion of POX?
Not sure why POG down 1.4p today. Gold price good, Rouble devaluing. Fuel costs falling. Expected Q1 production c160+k oz. This stock should remain a safe haven for your hard earned investment cash for a while yet. Keep the faith.
I am no expert , but as it was explained to me. polygon already have the shares they need to return locked up in the convertible loan which they have already paid for. So provided they have not borrowed more shares than are in the convertible loans they own then it doesn’t matter what the share price does from now on. All polygon have done is completely derisked their investment in POG, taken their profit early and maybe get a bit more upside from interest on the convertible loan
Shedulike. Polygon subscribe to £100 convertible loan at 8% or exchange for 1000 shares. Annual income £8 on £100 invested. Now short 1000 shares @£1.50. Sell . Now £500 profit £1500 cash in bank plus £8 per annum for loan until short called in. Doesn’t matter what share price does from then on . Good business I think
I would like to think that given the exceptional upside to the gold price POG would propose a nominal dividend even though resumption of divi is not in their stated priorities. I believe that even a small divi would be a major boost to the SP.
Can’t find much on Mr Strukov except an article on tax evasion and a mine accident. Might explain the sudden recent change of heart by Abu Dhabi investment fund and the less than enthusiastic response from the market
Nope he appears still to have his bonds. The 300mm share he held through financial instruments appeared to be those owned by VTB BANK. He appears to have bought them back from the bank . No change in his overall voting rights.
Agreed RB it always seemed to be the case that the 300mm shares held through financial instruments were VTBs. It seems significant to me that the purchase has now been made and with all the recent stake building of various shareholders a cheap bid opportunity may present itself.
Aeon seems to have bought VTB banks share which gives Aeon over 22% of the company with more to come from the convertible bond. Not far off having to make a bid. Let’s see what the shares do tomorrow , hopefully POG not going to be bought on the cheap.