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In the US, the 50% rule applies in aggregate if 1 or more people with control are sanctioned I.e the business can be frozen. Does anyone know the Uk position?
That would need RA, ALEXANDER ABRAMOV and Alexander Frolov to be sanctioned
These names were floated by David Davis in the House of Commons
I will not read the list of more than 100 names, but I have picked out 10 that demonstrate not only the importance of tackling individuals, but their links to the UK. So we are complicit in this and we are facilitating it by not tackling this.
Alexander Abramov—my apologies if I mispronounce names—is the co-owner and chair of a multinational company registered and headquartered here in London, Evraz, which is a metals company. Together with his partners Roman Abramovich and Alexander Frolov, he owns a nearly 25% stake in TransContainer, which is the largest Russian container railway operator. His wealth is estimated at $6 billion.
Taken from the sanctions guide (last bit may be pertinent here) and may explain what happened this afternoon
3.1.3 Asset freezing terminology
Funds generally means financial assets and benefits of every kind, including but not limited to:
• cash, cheques, claims on money, drafts, money orders and other payment instruments
• deposits with financial institutions or other entities, balances on accounts, debts and debt obligations
• publicly- and privately-traded securities and debt instruments, including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures and derivatives contracts
• interest, dividends or other income on or value accruing from or generated by assets
AB knows he will be sanctioned next week so presumably the dividend would have been paid after and will have been taken in the sanction. Better to leave it in the company and take a special dividend once the war is dealt with
Secondly, assuming the dividend payment is being made from USD resources, it would make sense to conserve USD as they won’t be getting any from Russia. I believe the USD credit line is from a sanctioned bank
Naturally we have to be careful. We are dealing with a company with majority ownership by the rich and powerful who will not think twice about walking over the PI
Technically it wouldn’t rise with cash staying in the company as the price today included that cash and tomorrow would have excluded the dividend.
Probably is a smart move to retain the cash. We don’t want them going cap in hand having to borrow which may be prohibitive anyway if this all drags out.
Tomorrow morning will be another attractive entry as divi seekers sell out and try their hand elsewhere. Anything sub 80p should prove a good short term trade and excellent long term hold
Knowing he may be Sanctioned, maybe RA has made them leave the divi payment in the company as by the time it’s paid he won’t be able to touch it
Nm
Shorts on and mass sales. Good luck everyone
Telling me. I was Going to buy back in lol then it went to auction
I suspect those who waited for the div will sell tomorrow. It could be down quite heavy early doors
People are hoping for a rise tomorrow on positive peace talks, otherwise it can’t be for the dividend as you are paying the extra today to receive it tomorrow knocked off the SP
Looking at the trades, all appears to be pocket money amounts. No real pressure either way
And there are millions of cheap Chinese tests and in house processing already available.
GDR isn’t selling. Too late to market and months after CE, no demand either
That all the companies have released near identical statements at 7am
I guess if the divi comes off the SP, then anyone wishing to sell for the divi simply would cash in now. Holding past tomorrow is betting the divi reduction gets eaten up quickly and truly becomes a bonus
RA switched the shares into his name just before the invasion. I suspect either that was perfect timing or he was given the nod.
The real danger here isn’t Vlad but Ukraine. They are going to have to back down and soon enough Biden et al will be suggesting tapering down military support if Ukraine maintains its rhetoric and doesn’t offer something to Putin in return. It’s all very easy digging your heels in when being bankrolled by the West and having arms supplied daily but when it starts to harm the pocket of voters, fatigue will set in.
This isn’t about Russia and Ukraine. It’s about global peace and security and We have already shown Ukraine that we won’t muddy our boots on the ground over some land to the east.
For reference I don’t believe they should be violated and forced into this position but unless Vlad goes home with a small trophy then he will want to make the economic cost worth it
Why sell Chelsea, his property portfolio and situate his super yacht in international waters. The man wants to liquidate
Prediction tomorrow - SP may go to
£1.05 mid morning and then float to around 85/90p at close. Then reopen Thursday down of course at around 60p and that’s when the II’s and PI’s and probably RA will begin the offload. Price will drop to around 40p, you won’t be able to buy in until mid 50s and the price will stagnate with some up and down days until Putin sorts his head out.
I think RA and general investors are only here this week for the dividend to try and enhance some value but with general uncertainty, risk may be off the table.
That said, those who will be happy to Hoover up cheap shares will probably kick themselves they didn’t sell grandma and buy some more when the SP heads back to 2.50 on peace and probably £3.50 when next results/update shows this remains much a going concern.
This may also be the last divi for a while. Harsh sanctions and difficult conditions will dent profits and a cautious company will retain earnings to maintain a defensive strategy. However, Evraz are perfectly positioned to profit from rebuilding Ukraine once Putin has flattened Kiev and will rebuild all those Russian Tanks that have been destroyed.
Smart money tomorrow will take £1 plus and sell before the dividend and reinvest after the bloodbath on Thursday.
Probably a tree shake. Good top up opportunity to anyone with a spare penny. I’m all in sadly and stupidly at £1.7
Can’t see dividend being withdrawn. The olygaarchs needs their cash paid to their protected bank accounts. After that, they won’t care so much. If they are selling as many assets as they can now, you can bet they will ensure their divi is paid