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The touch is now 3.5 bid and 4.5 offer. This is the highest I have seen in a few months. Is something afoot, apart from the obvious facts that natural gas prices are higher, could go crazy if Russian supply disappears, and there is a political desire to buy gas from non-Russian sources.
Response from Polymetal below- confirms on NO sanctions lists
Thank you for your email and your support as a shareholder.
We are not surprised by the news that some brokers refuse accept orders in POLY LN and freeze positions on investors’ accounts, however, we must stress that POLY LN is NOT on any sanctioned list. It’s a blanket ban by banks and brokers who are acting on advice of their compliance teams as opposed to actually complying with any external rules or regulations. This is one of the reasons why the share price is under so much pressure, banks refusing to accept orders in POLY, and some allow only SELL orders. I would urge you to request your bank to provide you with a document from the EU or Swiss authorities that explicitly sanction Polymetal. They won’t produce one, because there isn’t any. We are in contact with FCA and LSE and our stock is not suspended and continues to trade.
We’ve published a business update today, which should answer most FAQs by investors.
Sincerely,
Evgeny Monakhov, CFA
Head of Investor Relations
Polymetal International
Tel: +44 20 7887 1475
Mob: +44 7415 747373
E-mail: monakhov@polymetalinternational.co.uk
Is this actually sanctions policy per se, or is it just certain brokers and counterparties adopting their own, unnecessarily strict, interpretation or application of sanctions? If I were you I would make complaints to the compliance department about this. Even in the UK certain brokers have chosen not to trade these stocks, but that is a corporate policy and not due to sanctions per se.
London Stock Exchange website link below shows trades after the London market closed, at prices between 0.60 and 1.00. Are these just delayed notifications of trades that took place earlier in the day, or do they relate to the US listed ADRs? https://www.londonstockexchange.com/stock/EVR/evraz-plc/company-page
Google Evraz ADR and you get this https://www.marketwatch.com/investing/stock/evrzf. It has not made a new low versus the LSE price and right now is USD 1.60, about GBP 1.20.
Google Polymetal ADR and you get this: https://www.marketwatch.com/investing/stock/aucoy. If there is one ADR per LSE listed share, as per the Polymetal website, then the ADR price today has bounced around between about USD 4 and USD 5.50, which is between about 3 and 4 quid. It was 4.76 when I lasted looked, which is over 3 quid.
Single trade tickets don't give the full story. What is the actual volume and how does it compare with average daily volumes? I can see volume of about 1 million shares on the LSE website. Thats about GBP 27 million or USD 36 million, around 0.5% of market cap. The Dutch listing in Amsterdam has traded about 1.6 million shares, which looks very close to average daily volumes of 1.68 million. It does not look like a huge selloff to me- but what data would you look at?
When I look at the share price on google finance, it closed down to 8.42, but after hours bounced 2% to 8.59, which would translate to a GBP price of 31.70, about a percent lower than the London close of 32.03. However, it does not always open near to the closing US price, it could also partly depend on the general overnight market moves in futures, and Asia.
Delivery Hero in Germany is down about 30% today right now (was 25% earlier today), but some people speculate that if Delivery Hero exits certain markets such as Spain (where it owns part of Glovo) it could even be good for Just Eat...because fewer players in a market increases margins. Just Eat is already profitable in Germany, Netherlands, Canada, where it is very dominant, and could move faster towards profitability if loss-making private equity and venture capital funded players exit various markets...
Yes the Bioko option would be lower cost and faster since the processing plant that would be used is already there. In terms of project net present values, that makes a big difference, as there is less cash outflow and the cash inflows come sooner. Timing is especially important when a sub-Saharan African energy project could be valued at an annual discount rate in the region of 15%.
This is possibly related to Delivery Hero reducing its stake and closing its collar position., which was done with Morgan Stanley. RNS here https://www.investegate.co.uk/just-eat-takeaway--jet-/rns/holding-s--in-company/202201170700085557Y/ This seems to be a complicated transaction with a few moving parts and also other regulatory filings on other exchanges, but big picture, if this "overhang" was weighing on the stock, its removal could be a positive factor.