Member Info for LawStudent95

If you think about it though the way the war has been dragging on, the escalation is what will bring the parties to the table for peace as it means Russia have flipped the switch to taking the war more seriously in terms of the next step. If they keep meandering along it could take a while but this escalation as bad as it is for civilians , I believe gets both parties to the table quicker for a ceasefire as nato won’t want to get involved and the EU are basically controlling Ukraines decision to not engage in peace talks for the moment. Thoughts welcomed.

Saying 'take the certificates' is advice though, so they've just contradicted themselves if they said that.

Can you confirm the date this update was posted please? This update provides the clarity needed regarding effective control but also that the company is not directly or indirectly owned by RA and consequently IMO is sufficient enough for the temporary suspension to be re-considered. Primarily because it distances the company from RA in terms of control which it is anyway due to being a separate legal entity, but also highlights that there is no basis for the company being sanctioned going forward (just solely for the link to RA and if he was controlling the comp) so that clarifies that.

https://www.bloomberg.com/news/articles/2022-03-22/evraz-coupon-reaches-paying-agent-after-abramovich-related-block

Payment covered in Bloomberg article.

This payment bodes well for the next one due in April. Since this has cleared, the same bank can be used to make the next coupon payment as they have already undergone any internal compliance process that was required.

Legally, due to the sanctions involved, a data protection officer has to respond to a data access request within a specified period of time, so Evraz may have better luck trying to get some feedback from the DPO despite this not being a usual data access request. Interestingly, on the OFSI website in which it specifically mentions 'rectification' which is what Evraz have requested from OFSI directly.

I quote:

Date Protection Officer
privacy@hmtreasury.gov.uk

"The Office of Financial Sanctions Implementation processes personal data under Part 3 (Law Enforcement Processing) of the Data Protection Act 2018. The purposes of the processing is to ensure that financial sanctions are properly understood, implemented and enforced in the United Kingdom.

Data subjects have the following rights:
- access
- rectification
- erasure or restriction of processing
- the right not to be subject to automated decision-making"

Opinions welcome, but like others have mentioned still a waiting game. Things can change day to day, so good luck,

Thanks - Just got word from my friend that the SAYE price was actually a couple pence cheaper at 68p instead of 70p. Have passed on the information and wanted me to say thank you.

Leaving 4 years into a 5 year vesting period would've hurt but I guess as long as he is/was happy with the new job it worked out ok and like you said you always get the initial investment back so it is safe.

How did you find working at ITV by the way, and was there a particular reason you left? My friend seems to enjoy it for the time being, says it's different work to things experienced before. Career paths always interest me.

I think I agree with the £1.10 statement and will pass this information along.

Appreciate the response.

Thanks for this EggsScotch - Although not sure how much of a good combination this would be together haha.

I think your comment regarding the 3 years makes sense, because I believe with these if you select 5 years you have to either stay the full 5 year course or you can't get the shares at the end. I guess the flip side would be that if the option price is 70p then you would be purchasing at that price for 5 years if you selected the increased years option despite the price being higher but then again the price could drop again in them 2 years so it's all needs to be weighed up.

In terms of share price, i'll pass that along as well but where do you see fair value for this further down the road? I know this was hovering around £1.20 but I guess it depends on the success of ITVX really.

A friend of mine has asked for opinions on a potential SAYE purchase of shares up to a maximum limit of £500 per month. (can be 0-£500). Would you purchase the maximum amount of shares for an option price of £0.70 per share or would the funds be better invested elsewhere? I believe this scheme locks you in for either 3 years or 5 years whichever you choose so if anyone would like to provide advice on what you feel is also the best term duration to pick then I will pass on any details on as friend does not have an account or is into shares that much.

I have no idea about how ITV are doing as a business, however judging by a brief look on here it looks like shareholders are not happy with the price performance and growth and looks like the new ITVX deal has also lead to a significant reduction in share price combined with the UKR/Russia conflict.

Thanks Jotom - I personally feel questioning whether it should have been allowed on the LSE in the first place is besides the point we are trying to make here, but feel free to edit and amend the original draft as you wish as everyone is entitled to do so. I think the emphasis should be on the fact that status quo should have been maintained as nothing has changed, and more importantly RA cannot be classed as a person exercising effective control over the company with 28.64% ownership. That is the point to be highlighted.

Thanks Phermic - Graduated a few years ago now, qualified and working at a FTSE 100 company so all things going well. From experience, whether a response is provided or not, there is no harm in voicing your opinion or requesting information. Alternate choice would be to do nothing? Take care.

Apologies forgot to spell check it so have posted it again with edits.

Good Afternoon,

Re: UK Sanctions as of 10 March 2022 applied to Roman Abramovich

I am contacting you regarding the above and the OFSI notice that was issued on 10 March 2022, which addressed sanctions against Roman Abramovich but also unfounded accusations against Evraz PLC.

It is my understanding that your office has received a letter from Alexey Ivanov as director on behalf of Evraz PLC clarifying and rebutting the points made in the OFSI notice. Evraz PLC has emphasised and requested 4 legal facts to be taken into account which addresses the points in the official OFSI notice that was released and provides clarity that the points mentioned in the OFSI notice were inaccurate.

Please can you confirm receipt of the letter, and confirm when a response can be expected by Evraz PLC.

Please can you also confirm if your office will be correcting the OFSI notice by deleting the relevant paragraph associated with Evraz PLC once you have had a chance to look into this further or if you will be issuing official clarification that the sanctions imposed on and applied to Roman Abramovich shall not apply to Evraz PLC itself.

Kind Regards,

[Your name here]

Good Afternoon,

Re: UK Sanctions as of 10 March 2022 applied to Roman Abramovich

I am contacting you regarding the above and the OFSI notice that was issued on 10 March 202, which addressed sanctions against Roman Abramovich but also unfounded accusations against Evraz PLC.

It is my understanding that your office has received a letter from Alexey Ivanov as director on behalf of Evraz PLC clarifying the rebutting the points made in the OFSI notice. Evraz PLC has emphasised and requested 4 legal facts to be taken into account which addresses the points in the official OFSI notice that was released and provides clarity that the points mentioned in the OFSI notice were inaccurate.

Please can you confirm receipt of the letter, and confirm when a response can be expected by the company.

Please can you also confirm if your office will be correcting the OFSI notice by deleting the relevant paragraph associated with Evraz PLC once you have had a chance to look into this further or if you will be issuing official clarification that the sanctions imposed on and applied to Roman Abramovich shall not apply to Evraz PLC itself.

Kind Regards,

[Your name here]

OFSI email is - ofsi@hmtreasury.gov.uk

Forgot to add the link which can be used to contact the FCA. I believe they aim to respond within 3 working days: https://www.fca.org.uk/contact

Someone in the telegram group has a copy of the official letter sent to OFSI from Evraz. Will share soon once I have managed to upload the letter, but at the bottom of the email that was sent to the individual it says "We are asking you, if you consider appropriate to reach out to FCA and/or OFSI to ask for clarification and justification for temporary trade suspension and the plan to lift it"

Just been re-reading the OFSI 'Notice_Russia' that was released regarding the sanction to RA.

Apart from the general points people have picked out through the use of terminology such as 'could contribute', 'potentilly' and 'may have been used' , I believe one of the other key points in the notice was the following:

"ABRAMOVICH exercises effective control of Evraz PLC given his significant shareholding and the shareholdings
of his close associates who it is reasonable to expect ABRAMOVICH could direct through his close ties with Abramov and Shvidler"

As per the RNS released on 10th March both Shvidler and Abramov have stepped down as NE directors. Obviously shareholding of these individuals can't be changed, but decision making control that is provided by being on the board has been taken away so that is one point which has been addressed.

All the points raised in this financial sanctions notice against RA which were related to Evraz were addressed and countered in the 10th March RNS and the letter to OFSI so hoping we get a response soon to confirm either that they are happy with the response or if there is anything else that needs to be done to satisfy the points raised by EVR in response.

What news are you referring to? No official news was released today, besides the peace/ceasefire talks which will be continuing tomorrow but that's got nothing to do with the broker.

The best thing to do here would be to switch off, but that's easier said than done. I hold a considerable amount and would like to get this temporary suspension lifted as soon as possible. I won't repeat points already made but a few points to consider:

1) The whole point of a plc (Evraz PLC) is that it is limited liability. Similar to the fact that shareholders cannot be held directly liable for the actions of a company as it is classed as a separate legal entity, logic would then conclude that the company cannot be held responsible for the actions of a shareholder (albeit someone that owns 29%). Consequently, what has the company done wrong if we ignore the if's/maybe's in the statement provided by OFSI as that won't hold up in a court of law or anywhere for that matter.

2) If the temporary suspension is lifted after any ceasefire/peace deal then shareholders have saved themselves any current downtrend in SP due to the uncertainty which is a good thing.

I believe we should get an update this week regarding our letter to OFSI and that should give us some more clarification.

Good luck all.

A question for the more informed, due to me being unsure, why can't we trade our shares on another stock exchange say Canada for example instead of people saying 'if' we delist from LSE then all the shares will be transferred to Moscow where most people won't be able to access it? Also with that comment, does it depend on your broker whether you are able to sell there?

The way the company have responded in terms of challenging what was published by the OFSI and the new board appointments, alongside the fact that the sanction is against RA and not the company directly (even though accusations have been made but with no concrete proof), I don't see a situation where EVR are not allowed back on LSE as it's not feasible without evidence and burden of proof is on the government, however if anyone could answer the above then it would be appreciated.

New RNS released just now