Member Info for jazzyjim

@Pilot

They converted $3 million this week with the sp completely dead so I think it might be more than a few if there is a proper share price rise. Yes, there is no way 500m shares will be shifted but it will be multiples of the 50m we seen this week for sure.

" Don't be daft why would they convert if they have received notice of payment."

Because a useless CEO crashed the share price from 16p to 6p a couple of months ago and then thought the best finance deal was to allow a shedload of bonds to be converted at 5p. If the cash to pay for these bonds come from a JV deal the share price should be a lot higher so they can make a killing converting and selling down.

Stas

Under what circumstances will they have the money to buy the bonds. If it is because of a JV or RBL the SP will be higher and would bonds not be converted en mass.

"after COPL Completed the $13m Accelerated Bookbuild they had 244,449,464 shares in issue. Today they have 396,416,990 which is a 62.16% increase"

Sure but you can't ignore the bonds that can potentially be converted at 5p. This week saw 50 million shares for $3 million bonds. There are $33 million bonds outstanding. Nobody knows when they will be converted so we can't say how many shares there will be.

"The alternative view is one that has AM as, to all intents and purposes, a CEO who misleads and purposely lies to his shareholders."

That's not an alternative view. He has misled and then failed to deliver just about everything except massive dilution

Yes, he has a vivid imagination. He also thinks there are 3 banks lining up to do a RBL deal.

Risk v Reward
Has the risk increased now? We have now seen a service provider ditch poly and though no reason was given in RNS we all know why. This was an existing relationship they ditched so what are the chances of all service providers agreeing to have anything to do with poly when they move to KZ. The risk of no LSE listing of any type has gone up somewhat.

'unless Poly goes belly and and poofs out of existence you still own shares
and if you own shares then they can be traded'

Can they? Would you mind giving us some more details?

'We can still trade OTC'

Could you please give us a bit more detail? A multi billion company like Poly didn't give any details. I guess they should have just asked you!

' I just cannot see them overcoming hurdles already mentioned or getting shareholder approval (75%) unless absolute survival depended on it'

75% of the actual votes and as we know most PI's don't bother to vote. Non LSE shareholders and II's probably account for 50% hence why Poly is going to talk to the II's to make sure they are fine after the relisting. With them on board they can most likely carry the vote. Also they will play the survival depends on it card to scare a number of PI's to vote for the move as well. They have already started to use terms like fatal to describe the current situation.

'If you get dividends then of course you will be able to sell'

Could you elaborate and let us know the details of how you are going to trade these after the listing in Kaz?

'Sheeple sellers throw your holdings away
Those of us with an ounce of brains inc ii
Are buying big here'

The ii's can have the ability to trade anywhere so this will not be any issue for them. For the little guy it might be.

@SmallPenguin - it is not a popular opinion because it is nonsense. The logical conclusion to this stupid decision is the assets will be owned by Putins mates instead of only part owned now. The same taxes will be paid unless you think that they will stop producing steel suddenly when the new owners pick it up for a song. We take money out of Russia (until we were suspended anyway) so where will that profit go if it is impossible for foreign investors?

Sanctions here will do nothing to frustrate anyone apart from non Russian investors as they will be the losers. The only sanctions that will stop the war is on Russian energy but noone wants to take that hit to their economy so its better to virtue signal here and divert attention from what really matters.

"Ridiculous political rhetoric by incumbent government…
How such decisions can hurt Russia!?
It’s only hurting Britain and uk investors…
This government has lost its way…"

This decision can only benefit Russia if you follow through on the likely scenarios to come. They will still produce the steel only in future they can freely use it for rails or indeed tanks and all the profit will go to Russians (mostly a few of Putins friends no doubt). The only people hurt by this will be UK citizens. This government really is run by a clown.

"I blame that slaphead Iain Duncan Smith myself"

Well everyone should email this slaphead and let him know how they feel. Not that he gives a toss about the average UK person and the effect on their meagre pension. His 30 years as a mp has earned a 50,000 a year guaranteed pension. He doesn't have to risk anything by investing in companies that can be destroyed by incompetent government policy.

"Sold out this morning - managed decent profit, but today's news and my conscience got the better of me; finally..."

Yes finally after weeks of slaughter of civilians, war crimes etc you finally get a conscience. I will take your decent profit off you if it makes you feel any better.
You do realise this company takes money out of Russia and gives it to westerners thus the Russian state gets less. The alternative is the asset in Russia will be Russian owned like the oil and gas and all profit will be available to the state for war funding.

The smart people realise this was a good move for the company to keep the cash in uncertain times, shame the people selling at 200 didn't see it in the same way.

And no doubt new auditor announcement coming soon.

If things were so bad do you really think they would have just postponed the divi, do you not think they would have used it to pay some of the debt?

"Russia makes MONEY from POLY"

No it makes money from Germany, Italy etc sending $1 bn a day not to mention India, China buying cheap oil from them. You really think what they get from Poly is going to make any difference?

"I would rather they pay off the outstanding russian debt than pay a divi"

Think that is the only sensible thing they can do under the circumstances