Member Info for manfor

I do not hold any housebuilders now but I do remember what happened in 2008 and so I know what can happen when the housing cycle turns. The top of the housing cycle has clearly been reached now.

I am sure that I am as well informed as the other posters here. I was also not aware that the discussion here was only for people who think housebuilder shares are going to rise. Where does it say this?

I still think that housebuilders profits will collapse over the next five years, and any dividends will be greatly reduced or stopped completely. When the UK housing cycle has reached the bottom in about five years, I would be quite interested in buying housebuilders.

My entry price target for Bellway is the 2008 low of £4.

All the UK housebuilders are a value trap. Why do you think the institutions are not buying at these levels. They know it is a value trap.

House prices are already collapsing in the US and Australia, and UK house prices will not be far behind.

At the end of the housing cycle, the UK housebuilders will only be making losses and there will be no dividends.

The high dividends on the housebuilders will not last for long.

When the housing cycle starts to fall next year, housebuilder profits will fall and dividends will be greatly reduced or even stopped.

The high dividends on the housebuilders will not last for long.

When the housing cycle starts to fall next year, housebuilder profits will fall and dividends will be greatly reduced or even stopped.

The high dividends on the housebuilders will not last for long.

When the housing cycle starts to fall next year, housebuilder profits will fall and dividends will be greatly reduced or even stopped.

Housebuilders fell by about 90% in the last crash, and so it would not be very surprising to see the same thing happen again since the economic situation now looks even worse than in 2008.

So if the same cycle happens again, Barratt shares could fall to about 40p.

Housebuilders fell by about 90% in the last crash, and so it would not be very surprising to see the same thing happen again since the economic situation now looks even worse than in 2008.

So if the same cycle happens again, Persimmon shares could fall to about £3.

Persimmon shares reached a low of £2 in the last financial crash in 2008 and many people think the next few years will be much worse than 2008.

The same house price cycle will repeat now and house prices are already crashing in many locations in the US and Australia.

I would not expect Persimmon shares to fall as low as £2 again but I would not really be interested in buying them until they reach £4.

I will not sell them my Poly shares for under £10.

Hold the line! Stay with me!

Cawn.

That is a very big fall in your Poly investment. Are you well diversified in your portfolio? I mean do you still have other investments that are ok or did you have most of your assets invested in Poly?

What you on about Christo4? No clue what you are talking about. Twit.

I have contacted them before but not about these issues.

Jonno777.

That is not the correct contact address for JRS.

Only JRS and their directors and managers will be able to tell you what is happening with their holdings in ADRs/GDRs, and with dividends received from their holdings in Russian companies.

You will find the correct address and phone number in the JRS annual report. If you phone them they will also give you the correct email address.

Are you sure you contacted JRS at their registered office address in London?

It sounds like you have contacted the registrars for JRS. The registrars will not be able to answer any of these questions. You need to contact JRS to get the answers about ADRs/GDRs or dividends

The JRS annual report will give you the correct address and the correct phone number for JRS.

Instead of everyone just guessing if JRS have converted the GDR, and just guessing if JRS have received the dividends, why not just contact the company and ask?

Send them an email, or give them a telephone call, or send them a letter.

600LT

“In answer to your question. Its the difference between a 2 X and a 5 X. Think about it and we will discuss again in 3 months time when a 'very good' 2 X deal goes to the vote and removes the chance of a 5 X”

You have still not answered the question. You implied that the Russian gold mines may be stolen away from shareholders for a zero price or a token price because some people on this board were not saying good things or friendly things about Russia. Please tell us, what difference does it make what anyone on this board says about Russia? I doubt that anyone important in Russia or any of the Polymetal directors read this board, so what does it matter to the future share price what anyone on here says?

Anyone know if JRS will still be receiving dividends from their holdings in Gazprom,Lukoil,Rosneft etc? And have JRS ever said what they intend to do with their holdings that are in ADRs/GDRs?

Can anyone explain this new law in Russia about dividends? “Holders of depositary receipts established as of the date the law comes into effect will automatically receive shares of the relevant Russian issuers instead. Shares underlying depositary receipts become non-voting, and dividends will NOT be paid on them.” So the ADRs/GDRs will presumably be swapped for Moex shares. But what about this “No Dividends Law”? If there is no dividend then what is the point in having the share? A Gazprom share with no dividend is only worth a small fraction of a Gazprom share with a dividend. How is this law going to work? Will there be 2 different prices for Gazprom shares on the Moex? Who would want to buy these former ADR/GDR shares if they have no dividend? How can they be sold? Will they have any value? What effect will this law have on the GDR shares that JRS own?

They are not measuring Rosneft any differently from Gazprom. It is valued at 0.3% of total, and Gazprom at 1.1% of total. They have both been valued at about 5% of the Moex price. This price is at a discount of about 95% to the actual Moex price.

Ninjadude

Thanks. So JRS still has the 15 million Gazprom shares? If so then these are currently priced at about 200 roubles on the Moex or about £2. So the Gazprom holding alone for JRS is worth over £30 million or about 80p per share. And if Gazprom is about 20% of the total JRS holdings then the Moex NAV of JRS holdings must be about £4 now? Is this correct?