RE: Share Certificates28 Mar 2023 13:39
The problem I see is that prior to the January company meeting, I was ultra bullish on the future prospects and felt it was nothing more than a waiting game.
After that disastrously poor choice of words from Nesis saying "If redom doesnt happen it could be fatal to POLY" the entire proposition has changed for me personally. Brokers have confirmed for me that trading on AIX will mean that they cannot facilitate trades on POLY, They may have said that they will look to ensure continuous liquidity of trading but it will be at the company's discretion as to whether they decide any additional listings other than AIX.
Most brokers don't have a settling account in Kaz and by extension have no sub custodian relationship into which foreign dividends can be settled. If POLY issue cheques to shareholders registered addresses you could receive dividends but again it would depend on a number of issues, among them, the currency in which the dividend would be paid, as brokers have no mechanism to cash Kazakhstani currency in most high street banks. Yes a 20% divi is nice (if it even returns) but not being able to buy & sell your holding is a significant gamechanger.
The above varies from broker to broker, shareholders locations and this doesn't even include tax challenges etc.
All in all, the proposition has become far less attractive to me, filled with gambles and hoping multiple issues resolve and find a solution that certainly won't fit all shareholders.
I'm personally waiting to hit a slightly higher SP and selling out and I feel those still holding are the same risk happy individuals who had the courage and conviction to get in early like myself but if more "perceived" bad news is received I can see this tanking badly (150 estimate) and that would be below my average so after 1 year I'd like to take my profit and watch from the sidelines. Even if good news came, there would certainly be an opportunity to get back in as the share is still massively risky so there will not be a mass deployment of retail & II's flooding in to buy until pretty much all the risks have been addressed.
It may turn out to be a bad decision, it may turn out to be a great decision, but either way shareholders have absolutely nothing to go on currently to base an educated and well reason decision on. POLY look like they are trying to play both sides of the market (West / Russia) and hoping for peace so that none of the above will ever need to happen but that is all hope and nothing more.
I'd rather my investments were made on fundamentals, not political and pure guesswork.
Just my 2c and after being ultra behind POLY for 1 full year, please don't insult me by suggesting I'm now sold out, or looking to buy back in at a lower price. I'm trying to share how the current situation has changed my view on POLY. I have 2 family members feeling exactly the same, one has already sold out and one like myself is waiting for circa 250 to hit, or news to land first.