Member Info for jotom750

Dingo1

"2. ISA in HL being transferred to ISA II so I can get the certs. Certs then for both (avoid issue of being isolated and any risk from split anyway which we know is part of the plan Poly R v Poly K)"

What do you see as the potential problems when the PolyK and PolyR split occurs. It's been said by the company that shareholders can take payment instead of Ru shares.

Thanks in advance.

Maico.

Can I ask, why do you see A J Bell as a no go now? As far as I had heard they were taking a similar line to HG. Or am I mistaken?

Thanks.

Casa.

PS. As JL5006 has rightly posted, there are some caveats with going this route. I doubt that it would suit everybody. Please consider carefully.

All the best.

Hi Casa

I'm also with ii. All stock in an ISA. These are all personal decisions, there is no right or wrong as far as I can see. All that being said, I think that I will transfer to HL or AJ Bell and keep it all in the ISA wrapper. The stock is at the low ATM so don't see where trading will get me. I'm in for the long term Divi's and hopefully, by the time I come to sell, Kaz will be listed on LSE as well. I don't think that I'll take ru stock, though wonder if Poly will decide to do a rights type issue where one could swap ru for Kaz. One never knows. (I've not seen anything to say this may happen).

All the best.

Try this one.

https://www.polymetalinternational.com/en/re-domiciliation-agm/

"GENERAL MEETING LOGISTICS

Publication of the Circular:

10 May 2023

Analyst and Investor Briefing:

10 a.m. BST 10 May 2023

Latest time and date for receipt of Forms of Proxy:

11 a.m. BST on 25 May 2023

General Meeting:

11 a.m. BST on 30 May 2023

Announcement of results of the General Meeting:

30 May 2023

Venue of the Analyst and Investor Briefing:

8 Fenchurch Pl, London EC3M 4PB (How to find)

Webcast link:

https://event.on24.com/

Venue of the General Meeting:

8 Fenchurch Pl, London EC3M 4PB (How to find)"

Faberfan

Well said. The vested interest and propaganda here is palpable, I wonder how many give a thought to the deaths in Sudan...None I'm sure.

“The armed conflict between rival factions of the military government of Sudan began in 1983.Since the start of the civil war, more than 4 million people have been displaced, and an estimated 2 million have died. Opposition groups as well as the government have been accused of atrocities in the conflict.”

Compared to..

“As of February 2023, the U.S. estimated that Russia had suffered 189,500 to 223,000 casualties, including 35,500 to 43,000 killed in action, according to a leaked Pentagon document obtained by NBC News and other news outlets, part of a trove of classified material posted online. The same document estimated that Ukraine had suffered 124,500 to 131,000 casualties, with 15,500 to 1 7,500 killed in action.”

Yes, ALL murders and deaths are to be lamented, but the war will take it's own time, as these things always do, I'm sorry to say. Whatever we in our comfortable seats think.

Onbeyond.

I agree that what you've said seems an accurate summary of what should/could/can, normally happen. But as others have

(I think fairly) reported, this is not how it seems to be panning out. To me it's almost like the brokers, (for one reason or another) want to get shot of the whole Polymetal question, and are to a degree hiding behind the redom to do this.

These are not normal times with normal actions. I wish they were, and not for financial reasons.

As others have said, these problems all said and done pale into insignificance when compared to those in a war zone.

Reckless/Neeeew et al.

At this stage, I just don't know, but some of this does not make sense to me, why when delisted from LSE would they remove Poly from ISA/SIPP when the AIX (Poly's target exchange) is an approved exchange for ISA'a and I assume SIPPs? Not trade them sure, but how can they be removed? (NO flames please). I suppose the issue may be the duel Ru/AIX listing causing the problems., for an as yet unsplit stock

I'm trying my best to beat this to death! But not having a SIPP I'm unsure. Is it not a long term wrapper for stocks and other products used for ones pension, and as such may be untapped for many years if not decades? Because if that is true, and Poly shares are still kept within the SIPP how are they at some far off future date handled? The changes/redom/sanctions will have faded into memory by this time after all. This obviously does not have to be true for regular divi payments though.

It just does not make sense to me at the moment as some of it seems to go against the regulations. (And the potential for a class action). The Ru angle does complicate things and I'm starting to think that this is the issue that is causing the ISA/SIPP removal. Having said that, companies can do whatever they wish, these are simply business decisions.

I don't expect conclusive answers.

AO.

He's just posting more FUD. Hoping to get in cheaper, or just hates the company.

Reckless.

Thanks.

The plot thickens....It's all a bit bonkers!

Neeeew

Thanks for that. This seems something of a merry go round. As I see it, there are two issues.

1: Dividend tax status.

This seems fairly conclusive from their reply, that it's not in the ISA wrapper.

2: Continuing ISA qualification and protection for the stock.

I don't yet see how it can be shown in ones ISA account, but not qualifying for ISA. Why would they not just place the stock in ones non/ ISA or trading account?

After any split and potential relisting of PolyK on LSE transferrs to ISA's (via cash and repurchase) would then be limited to the normal yearly limits. So it seems back to the drawing board.....Or am I missing something here?

Hi Reckless.

It keeps things "interesting" I suppose. (And saves on barbers bills).

GLASH

AG

Have you seen anything to confirm that this is happening?

PE.

Interesting you say that. Do you happen to have a link to the message or story that says Barc will do it?

Thanks.

Neeeew

It's Interactive Investor. So for me, if requiring ISA cover, they are a no go.

Neeeew

Thanks.

I'm at 41K shares (all in ISA) and going to do exactly the same as you.

Fingers crossed for all of us!

Onbeyond

Great thread, and very helpful. Much of the below is only relavant to U.K. tax paying Polymetal shareholders.

As you say, holding in a "dormant" SIPP or ISA could be a big issue for the future, but this is unknown as Poly management have stated that it is their intention to relist Poly Kaz (only), on the LSE as soon as possible. Who knows how long that may be, I don't. But one thing is sure, the protection given in the ISA or SIPP wrapper (what happens after any potential PolyK and PolyR split is also unknown, but not exactly unique to this situation) can be substantial if holding a fair chunk of PolyK.

Imagine a 25,000 holding, average price £2 paying £1 per year divi's. That's £25K divi, with a capital gains allowance of about £4K (it's not this now, but it is reducing) that leaves tax to pay on £19K, (let's say per year if all things go well) a substantial amount. Then if the price were to rise to £7, the gain could be 25,000 x £5 That's £125K to pay tax on, if sold in one year, if split, this smaller gain has to be added to the divi gain, a real "Catch 22" situation. (Do your own sums).

So these actions are really dependent on a few factors, some known and some as yet unknown (please see Donald Rumsfeld). One is the size of ones holding, if this is not mentioned in posts of actions taken, it can be quite misleading.

If I have made any accounting errors, please be kind and point those out in a helpful way!

This issue is not over yet, by any means in my view at least.

GLASH

Reckless.

Thanks for the clarification. I'm sure that it will put many peoples minds at ease. (mine for one anyway)

Cider,

Thanks for the information. These things are minefield decisions! And I suppose in many cases relative to ones stock holding.

GLASH

Auda

Are you saying that HL has already sold your Poly stock out from under you?