Member Info for JohnNth

@pandamonia..."Just to be clear here. Nesis said staying in Jersey is FATAL to Poly as it stands." I personally agree with this, but moving to Hong Kong; however difficult a move may prove to be is better than Kaz. I think the company has got the message and hopefully we will get full clarification next week regards all this.

@Redijun...read my imitial post again. The person told me a move to Kaz can be implemented in as little time as 8 weeks but the reason it will take 12 months is to give POLY time to engage in dialogue with HMRC, brokers, LSE etc to iron out issues such as ISA's, SIPPS, brokerage services, GDR listing etc. In fact if H&L and other brokers says no to dealing in Kaz then that is good news for shareholders as it would force POLY BOD to abandon the idea of move to Kaz altogther.

@Redinjun...you can disect what I've said to the intestines, but I FULLY stand by what I've said.

@OracleOldham....look, I may have got some words wrong but the message is correct; the company will be putting out further Q&A in the coming days addressing investor concerns regards re-domiciliation. I repeat, I was told if less than 75% shareholders vote for the move, the move doesn't happen.

I would love to but wouldn't want to overwhelm the line with phone calls. Contact details was obtained from POLY website.

@Redinjun...YES they did. He said we're here for the shareholders, do what's in their best interests; no liquidity means no/fewer shareholders

@chique...I think you'll do very well comes next week.

HUGE bounce once investor concerns are addressed in the Q&A to be released by POLY in the coming days; sometime next week.

I have put my money where my mouth is and added to my holdings. I'm expecting a HUGE bounce in the coming days.

POLY IR told me move to any exchange will have to satisfy the criterias listed regards ISAs, SIPP, trading liquidity etc. It would be a precondition to any move away from LSE.

I actually managed to POLY Investor Relations early today. I told them of concerns sjareholders have with what's going on; we thought the move would enhance shareholder value but it has done exactly the opposite.
The person said they are aware of this and they will be putting out further Q&A next week to try address investors concerns. I asked him some specific questions and his response was as follows:
1) If less than 75% investors votes against domicle to Kaz, it doesn't happen...full stop.
2) The company selected Kaz as first option cos it was the easiest..amongst other things; it can be done in as little time as 8 weeks but POLY have allowed up to 12 months to provide it time to iron out issues such as talking to HMRC on ISAs and SIPPS, brokers on providing dealing service, LSE for GDR listing etc etc. If it doesn't stack up on these fronts, then POLY will itself drop the plans
3) They are also exploring re-domiciliation to Abu Dhabi and Hong Kong. He said Honk Kong would be great but there are complications and the process would take many many months. He said something along the lines that move to Hong Kong would involve the current company to be liquidated, the new company set up etc and this takes a long time. But given crisis all this has created it is something POLY BOD will be looking at as well.
4) If non of the above is possible for whatever reasons, then we carry on as we are and as best we can.
He did not specify when exactly the company will put out new Q&A, but I got the feel they will wrap it up by weekend and it could be as early as next Monday.

Pulled off below from Q&A section of POLY website...may be of help to stakeholders.
"The Company continues to evaluate all available options to modify its asset holding structure in order to maximise shareholder value. Potential transaction structure include, among others, a potential re-domiciliation of the parent company, Polymetal International plc, to a «friendly» jurisdiction, a move which could unblock the ability to execute further corporate actions. No decision has been made in relation to the various options available to the Company."

I think ability to execute further corporate actions include ability to sell Russian assets, to pay dividends, bid for new licenses in Russia etc etc. Russian sanctions do not allow such actions whilst company is domiciled in unfrriendly country like Jersey.

Think after this past 2 days, somehow I don't see company mgt taking us back in time to paper certificates and flying to Kaz to sell shares. I tried calling company London office but phone is cut off (020 7887 1475); may be sign of things to come. In the absence of any clarification to myriad of issues, it feels like we're left on our own.
Like I've said before, it is a great company and if someone was to resign and collect divis then fantastic yield going forward at current price.

Further, I don't believe Russian state would confiscate any assets; they've not done so to date cos they know foreign investment once war is over would dry up completely. Any loss of Russian assets to date have been either through voluntary withdrawal/liquidation by western companies or businesses not being able to honour Russian debt however caused eg Petropavlovsk Plc. It is clear company management is thinking long term and hoping the war is over soon and everything goes back to singing and dancing. They can then return to LSE listing; be it primary or secondary. But all this doesn't help shareholders right now!

Locky82...it is my undrstanding that primary objective of Company BOD is to maximise shareholder value. I can't understand how moving company to Tashkent would realise that. I now feel leaving things as they are and deal with the consequences as and when they arise would have been the best thing to do. If Russia confiscates assets then we're left with the Kazch assets which probably would be worth loads more (than combined assets listed in Kaz) listed on LSE.

Locky82...it is just possible fully valued Kazch assets listed separately on LSE is worth more than Russian/Kazch assets listed in Tashkent or somewhere near China!
Just a thought bytheway.......

Locky82...it is just possible fully valued Kazch assets listed separately on LSE is worth more than Russian/Kazch assets listed in Tashkent or somewhere near China!

big-blue...sorry for ignoring you all this time. I get the feel we could end up losing lot more in trying to save Russian business. I repeat it is only a thought....but a thought requiring an answer.

@KevlarS and Westy54...here's to our two learned POLY colleagues; is it possible for you to draft a brief message outlining shareholder concerns which we can all send to POLY investor relations. We can flood their inbox and they will have to respond then.

Would POLY sp be higher if it just owned the Kazch mines? If so, then is it better to abandon Russia altogether?
Just a thought.............