RE: US POYYF Shareholder here16 Jun 2022 10:41
Response to America trading
Now, we’re aware of the situation in America that unfolded yesterday. First, the Bloomberg header (“sanctions apply to this security”), and the stop of ADR program in the US are probably related. While we are at a loss to explain the actions of the market makers and Bloomberg data team, we suspect that the decision may have something to do with the new sanctions published on the 6th June. https://home.treasury.gov/policy-issues/financial-sanctions/faqs/1054
Presumably, banks/brokers and data providers believe that we’re subject to this blanket restriction when in fact we are not, as Polymetal shares have not been “issued by an entity in the Russian Federation”. We are challenging this with Bloomberg and with BNY Mellon.
For the record we are not under any sanctions as of this morning, and shares on LSE continue to trade, from what I see only ADRs in the US stopped trading.