Member Info for Lawrence13

This morning first reactio was sick then relief and now impotent anger. With he handful of Russian people I've met in my life I have always been kind , considerate and helpful. Now I wouldn't **** on them

Good point maybe the sp can shoot up a tad more I get 17k for every penny

Well if ummc are able to sell pogs gold why should there be a default oh yes UMMC is the trap which our silent and inept and crooked board are willingly walking the share holders into

FFS the billionaire share holder is good pals with Akimov the chair of GPB cant you lot see this is a total stitch up

That's because its in Russia and possession is nine tenths of the law

and his mate strukov. Crooks the fffing lot of them.

out of the frying pan into the fffing fire

I asked pwhite whether its a case of UMMC not being on the sanctions list his response

"20 Apr '22 - 11:41 - 56555 of 56555
0 0 0
Read the last paragraph:-

"Other financial and investment restrictions

The Regulations prohibit a person from directly or indirectly dealing with a transferable security or money market instrument if it has a maturity exceeding 30 days, and was issued after 1 August 2014 by:

Sberbank, VTB bank, Gazprombank, Vnesheconombank (VEB), Rosselkhozbank (as listed in Schedule 2)

an entity incorporated or constituted in a country other than the UK which is owned by one or more of the five banks listed above

an entity acting on behalf of or at the direction of those five banks named above or an entity incorporated or constituted in a country other than the UK which is owned by one or more of those five banks"

Not Good,
The fundamental mistake shareholders often make which is clearly being made here is confusing the listed PLC with the operational company. POG's subsidiaries, workers and gold assets are all in Russia. They are not affected by the sanctions. Only the listed PLC on the London Stock Exchange is effected. GPB has called in the loans now because it wants the PLC out of its hair. Once the PLC goes bust the entire Russian operations will be owned by UMMC and GPB as the PLC has defaulted on £300 million of loans. The debts will be recovered from gold sales to the Russian government and whoever else wants to buy the gold. India is a big buyer of gold.

The Russian sanctions legislation is there for all to read and what restrictions are placed on sanctioned companies, their agents and third parties working on their behalf.

https://www.gov.uk/government/publications/russia-sanctions-guidance/russia-sanctions-guidance

Cheers Shaun

Thanks furion

I believe it was 190-200 million

Yes good for buying at a low price but ****e for people like me. Mind you its still registered in the UK. Salvage is the key word for the likes of me.

I found them they go under UMGK but in russian they produce copper but are also a holding company, What impications that has I don't know (I always think the worse) however they are russian listed and based so they are not sanctioned and should be able to sell gold; that's my interpretation anyway

They are in the copper business but are also a holding company

"A holding company is a type of financial organization that owns a controlling interest in other companies, which are called subsidiaries. The parent corporation can control the subsidiary's policies and oversee management decisions but doesn't run day-to-day operations. "

https://www.ugmk.com/en/

Good email lloyd. See how he answers this one. At least he can tell us if UMMC are sanctioned or not

Okay: emailed John again asking if POG can actually make payments to UMMC and if they'd take our gold. His reply was thus

I suppose to be fair he can't say much until an RNS is released, However the key is can we pay UMMC and will they buy our gold or are they sanctioned and its a ploy for them to obtain POG on the cheap if we can't pay

"Lawrence


As per today’s RNS, the Company is considering the implications of these notices with its advisers.

I don’t have additional color commentary on this just yet.



Best regards,

John"

That's a good point jarve. I've emailed John again asking exactly who UMMC are and can we not only make payments to them but will they handle POGs gold

here's me email "Good Morning Max and John

Concerning today's RNS: Am I reading this section correctly.

"The Company has also received a notice from Joint Stock Company UMMC-INVEST ("UMMC"), as successor agent under the Term Loan, that GPB has assigned all its rights under the Term Loan and related finance documents to UMMC."
Is this good or bad it reads as if everything has been transferred to UMMC and GPB will have their debt settled. Have I interpreted that correctly?
Thanks
Lawrence

John's reply just now
Wed, 20 Apr at 09:02

Hi Lawrence



Yes, GPB has assigned its rights under the term loan to UMMC.



Best regards,

John