Heineken N.V. said on Friday that it completed the sale of its Russian operations to Arnest Group for €1 and added that the buyer agreed to provide guarantees for Heineken's 1,800 employees in Russia for the next three years.
The beermaker noted it will incur an expected total cumulative loss of €300 million as a result of the transaction but insisted the sale will have a "negligible impact" on its diluted earnings per share. "We have now completed our exit from Russia. Recent developments demonstrate the significant challenges faced by large manufacturing companies in exiting Russia. While it took much longer than we had hoped, this transaction secures the livelihoods of our employees and allows us to exit the country in a responsible manner," Heineken CEO Dolf van den Brink stated.
Heineken decided to leave Russia in March 2022 in response to Moscow's attack on Ukraine.
I like you already Offler.
However, UBS as far as I recall did held the record recently for most valuable cumulative M&A's globally, so could be considered at least one of the best in the world. So far we haven't been told UBS are no longer involved but I could possibly find that out.
Latest RNS largely supersedes previous RNS' relating to the same projects. It ain't happening 2023.
Website needs updating to latest timelines. New management need to get up to speed, make the changes and get on with the DSO project.
Russian President Vladimir Putin is scheduled to hold a special meeting to discuss alternatives for the control of the ruble after an exceptional rate hike of 3.5 percentage points failed to halt its fall, Financial Times reported on Wednesday, citing two people with knowledge of the matter.
According to the report, the Finance Ministry is in favor of requiring exporters to convert part of their foreign exchange earnings into rubles. This move would force exporters to sell up to 80% of their FX income within 90 days after delivery and prohibit firms refusing to comply from obtaining government grants.
In addition, discussions are also expected to be held on other measures, such as reducing the amount of foreign currency that exporters can take out of Russia, a ban on the payment of dividends and the granting of loans abroad, and the limitation of currency swaps. Nevertheless, one of the sources cautioned that the measures "aren't decided in any way other than with him."
https://www.teletrader.com/putin-to-reportedly-hold-special-meeting-on-currency-control/news/details/60507055?internal=1
As this is B2B, it will be good to start seeing some known companies onboarding to the Angra Global for their currency payments. This will be market moving info and also income generating.
SP is pants but positive news will move this to the upside imo.
Yes good possibilities, but obviously there are risks as with all investments. I'm still quite a lot underwater, 40% or so, been holding for 2 years. But hopefully this will come good because the sky is the limit with this type of investment. It's down to the BOD to execute the strategy.
Reading the prospectus is a good starting point as to what the vision is and people can decide for themselves if they think good progress has been made since it was published.
I agree with others that they need to start getting the PR moving. I tweeted them requesting they do so.
Neobank. Main market. Whats not to like?
Was in ARB at 10p before it went on its massive run up. I think this has more potential and isn't reliant on BTC price and difficulty of mining. Even 10x from here is only £130m valuation, not a lot for this type of business. Done well this will be profitable or a takeover target for sure imo.
Good luck holders.
It could be that the new BOD don’t give a toss at what level the placing is at. As I mentioned earlier, all new, no emotional attachment to this business at this time.
Could even be laughing at the pommes!
What will happen, in my opinion, is placings to (hopefully) get into production then a 10:1 share consolidation to reduce shares in issue and create a reasonable SP.
Extremely disappointing to me that what should have been a sure thing investment has been reduced to the current level. At least Bill seemed like a decent company boss, while acknowledging he was likely out of his depth, he did build the SP to good levels. In a rising market admittedly.
The brave will buy in on the drop. Usually best to wait three days for SP stability.
Thanks Forrest, appreciated. I was questioning the cash position based on the SP performance and the increased volume of sells. Made me think a raise was coming and insiders knew.
If the raise can be demonstrated to get the project off the ground I think the SP will recover. If it’s to keep the lights on then we’re in the 5hit.
It's simple really. Last financial statement, which was some time ago now on 31st December 22, showed cash at $2.5m. Admin expense $2.35m. If cash burn is the same as last year and the year before we have less than $1m cash as far as I can estimate. Ok we have secured a loan for $1m with a further facility for $1m. So potentially enough to stay afloat for another year.
Here we are in the third quarter with no D$O coming out soon it seems. Although the website still states 2023 for D$O on the home page.
The options are as far as I can see: Raise, thus diluting current shareholders.
Or a larger loan (which won't be on brilliant terms for the company likely 8% plus). However, this may be where the dfs comes in. As I previously mentioned, this could be a condition of a loan to offer credibility to the project along with commercial costings and feasibility. imo this could be the saviour of the company as a raise just would be crazy dilutive.
A loan to bridge us to shipping the ore and generating profits for EH and MM is the best thing that can happen here I reckon. And cutting 'Admin' expenses.
UFO needs to get the D$O off the ground pronto and the bOD need to communicate how they will do this!