Member Info for JohnNth

"F$$king crooks, must be illegal cannot be fair or legal?"

I don't bank with HL, but as a neutral I think HL should be entitled to charge something for keeping the stock in SIPP or elsewhere. I am with ii and they set a deadline for holders to move stock out or request certificate and those who didn't got their stock liquidated and money added to account. It seems HL did not do that (liquidate holdings) and as a result value of your stock doubled since and imo will keep on rising.

The holders with HL bears responsibility for the current predicament regards POLY stock.

"Israel has killed far more in a shorter time space but the ever so enlightened ‘west’ doesn’t seem bothered about that one."

In fact, the West approves Israeli 'revenge' even though HAMAS are resisting occupation which has gone on for over 50 years. US rushed weapons within few days of October 7th and never questions indiscriminate bombings, deaths, displacement etc. Over 75% population of Gaza displaced, 21,000 dead, nearly 60,000 injured, nearly 60% of all homes either destroyed or damaged and nearly 25% of infrastructure destroyed. Nothing on this scale have happened in such a short scale of time in living memory...all with full blessing of US and the West.

IMO if POLY fails to get a decent price, then they won't sell; the wider company and its officers are not sanctioned and hence no harm in its Russian subsidiary which is massively profitable (EBITDA north of $1bn in 2023 according to Mr Nessis) to continue trading.

In such a scenario, Russian entity which owns most of POLY debt can clear loans literally by end 2024. Divis are unlikely to flow until there's a Russian resolve imo and without such resolve in the near future, a MASSIVE retrospect divi is possible when the war ends and sanctions removed.

We need not worry in the meantime as Kaz business is worth more than the current sp which can only move up.

Fingers x'd..............

"If / when Poly split off their Russian business what shares will we be holding in HL?"

I think exactly the same as what one is holding right now. Assuming a decent sale price, shareholders can expect a special divi to compensate for owning shares in a much smaller company going forward.

Big question is, will POLY get a fair sale price? At first, it appears highly unlikely...going by other western companies diversifying away from Russia. But POLY is based/registered in friendly jurisdiction of Kaz, so should not face such penalties.

And given POLY have avoided all sanctions to date, it is unlikely to sell Russian business if it gets next to nought for its assets. It would hold on and accumulate cash till when the conflict ends and sanctions lifted. Most recently, there has been a purge on oligarchs living in EU countries; not sure where Mr Nesis fits in given he resides in Cyprus.

Russia's government demands discounts of at least 50% on deals involving departing companies and this may be a too high a price for POLY to pay to exit Russia. Further, a sale agreement by a departing company, Hyundai of Korea being the latest, signing agreement whereby they sell their assets in Russia for a nominal fee and include buyback options that could one day allow them to return is a non starter for POLY either, as it is a strategic industry earning hard currency and can be run by Russians without foreign help.

Fingers x'd...........

"You mean China is Russia's biggest trading partner?"

This is correct, China is Russia's biggest trading partner. However, Russia is not China's biggest trading partner; it is the US.

Few months ago, I read somewhere the commander of Ukraine armed forces saying we can and do provide roles in the army to fit peoples choices. This is deception just to get people to come forward and join the army. As the article states, reality is much different.

EU accession talks 'victory' for Ukraine...Zelensky says

See what I mean, He will try brain washing Ukranians of his achievement with EU and hope they forget/forgive him losing 20% of Ukraine.

This also proves the conflict has turned a corner

"Ukraine is being considered to join the EU".

It has been clear from outset of the war that major EU countries were against it and wanted Ukraine to make peace, whilst UK US wanted war. I think we are now arriving at a point at which all parties except Z (cos he lost territory and still dreams of getting it back) prefers Ukraine to engage in peace to greater or lesser extent. This convergence in views is largely brought on by elections due in both UK US later this year as peace would give a big shot in the arm to world economy.

The EU carrot so quick is driven more by ending the conflict than to help Ukraine; EU can wield more influence through prospective membership than without it.

It also offers the little green man a way out; he can blame the West for not providing enough equipment and reference EU gains through membership which would better lives inside Ukraine.

This war could have been avoided if he took Russian resolve seriously right at the outset, and he will have to concede lot more now to get it ended.

I contacted POLY IR with regards to dividends. They told me no interim decision was discussed at the meeting last week and referred me to the statement put out by the company on 31st October which reads as follows:

"The dividend decisions for the company will depend on the progress with the sale of the

Russian business and until this sale is finalized and executed, I don't think it will be appropriate for the company to pay dividends. I remain hopeful that dividend distribution will be on the Board's agenda when we approve the report for 2023 and as such, dividend payment would be possible based on the results of the full year 2023. This represents a slippage compared with our previous expectations but again, both operational difficulties in terms of unwinding the inventory, and complications in terms of completing the sale of the Russian business are pushing back the dividend distribution into the future."

To sum up "no sale of Russian business no dividend"

I can understand this given company business in Russia. POLY have to exit Russia completely before it can pay any dividend. In the meantime, company is making record profits and the cash is piling up.

Z tried to be funny when he encountered Putin and Russian resolve in putting things right ie. conformity to Minsk 2 agreement signed in 2014. Well...it's not funny anymore; he made the wrong call and he knows it as well.

WARNING! Beware before electing a comedian to run the country.

We are dealing with blackmailers. Since the conflict started, we have not had independent verification of Ukraine's progress; they have barred news outlets from the front lines completely. Every now and then someone serving on the front line spills the beans on reality and it does not make good reading for Ukraine. At the same time, Ukrainians are buying big villas and yachts in exotic places in record numbers, including his close mates.

Think little green mans' days are coming to an end.

See how western financial aid (our taxes) to Ukraine is applied!

https://www.msn.com/en-us/news/world/bengue-patrick-shefir-brothers-yacht-purchases-and-call-for-transparency-in-ukrainian-leadership/ar-AA1kFRsx

Ukraine will not be able to sustain position east of Dnipro cos of logistical problems. If you recall, early this year Russia withdrew from Kherson on west side of Dnipro for the same reason. Ukraine hailed it as victory at the time, but they will have to withdraw themselves; that is if the little green man in safety in Kyiv can be persuaded.

Zelensky is trying to win back territory lost under his leadership. To salvage his position, he is using ordinary Ukranians and our money as poker chips. Time his evil fantasy was brought to an end.

Thx h118...makes sense as well as divis can't be withheld forever. I would have thought POLY could've explored the escrow option for those wanting to keep cash safe until payments of divis made possible at some future date.

Yes kind of convergence between the twp prices is taking place; either naturally market driven or may be POLY itself doing the buying to add to Treasury and thereby bump up the the price to make one for one swap appear fair and therefore easier. A holder on MOEX would not be happy swapping one for one for something worth quite a bit less.

As regards BB and his bile comments, he has done what many on this board predicted he would do; disappear like a fart in the wind. I suspect few more like NH will follow suit as the benefits of holding POLY starts bearing real tangible benefits.

No let up in rise in sp past few days....anyone knows why?

Putting Crimea aside, examining details of peace terms agreed and then not agreed, I don't believe Russia was being unreasonable. Russian President Gorbachev reached understanding with Reagan and the West back in the 1980's for NATO not to expand the alliance incorporating former east European countries, but NATO did. Again, in the Minsk agreement in 2014, Ukraine signed up to an agreement (Minsk 2) whereby it would not apply membership to NATO and provide autonomy to Eastern Donbas region which are predominantly ethnic Russians.

Instead of adhering to the agreement signed by his country, comedian Zelensky fought and won the election on platform promising Ukrainians membership to NATO and embraced right wing elements like the Azov Battalion who were making life a misery on ethnic Russians. He cancelled Russian language and culture, denying access to even the ethnic Russians within Ukraine.

Compare this to UK where we happily provided autonomy to Wales, Scotland, N Ireland and we encourage learning of Welsh and encourage and celebrate local cultures.

Putin and Russia had enough and comedian Zelensky (with zero political experience) failed to grasp seriousness of the situation and hence we are where we are.

Russia is a powerful country with too much invested in the conflict (blood and money), and the war is on its border and therefore cannot possibly lose. Zelensky gambled and now trying to win back lost territory and salvage his 'reputation' using his people and our money as pokerchips.

This can only go on for so long...........

It's what you get when a comedian is in charge...both common sense and pragmatism goes out of the window. Like you say BSR, too much blood is spilt and that makes peace difficult.

Peace can/will only happen when Zelensky stops hallucinating of a victory

Now completed registration with Tabys and just receiving confirmation all is set up and showing my holdings. Thought I should get this done as we approach December and be ready for the divis.

In September, Nesis said "The company will “definitely” pay a dividend on its 2023 results. The board would discuss an interim dividend in December, depending on financial conditions and on progress with the sale of the Russian business.

Exchange rates have been going in POLY's favour and gold price is holding resulting in cash pouring out of PLOY's ears. I'm expecting divis to be announced in the coming weeks.