Member Info for mcmullank

At near full ask. Something afoot?

on the buy side. Now being offered .33

I saw the post, appeared to miss off the sell today. All in all, this appears to be making steady progress. See some guy trying to ramp on iii but happy to wait for the official news.

All the trades at .35 are buys. If you had attempted to buy before 2pm today, you could get up to 2.5m for .35

There is a differential cost of 5.5p per share in tax (£12.22 * .005) = £0.0611 for POG (1.5 * .005) = £0.0075 and the conversion of the warrant incurs no tax. For this reason alone, as long as the shares are above the £12.13 exercise price then the warrants should be worth at least 5p

$17.59 exercise price = £12.13 at current exchange rates ($1.45:£1) so intrinsic value is currently around 9p but lets see what tomorrow brings!

Current exchange rate = 1.466, conversion price = $17.72 this equates to a price of £12.087 and this then has to be adjusted for the dividend already paid on ordinary shares of 7p giving an in the money price of £12.02.

Current exchange rate = 1.458, conversion price = $17.72 this equates to a price of £12.154 and this then has to be adjusted for the dividend already paid on ordinary shares of 7p giving an in the money price of £12.084.

Current exchange rate = 1.446, conversion price = $17.72 this equates to a price of £12.254 and this then has to be adjusted for the dividend already paid on ordinary shares of 7p giving an in the money price of £12.184

You must either be my shadow or my wife! It is also my son's birthday on the 9th.

Now looks like the warrant with still 4 weeks to go, that all time value has been removed from these. Warrants are currently selling for intrinsic value only.

In addition, my post was about the extension of the warrants and the use of the vwap to determine if the warrants were in the money or not. To calculate the vwap, they cannot use the exchange rate at the date of exercise as the extension has to be confirmed at least a week before expiry so I asked POG the question as follows: "I was wondering if you could provide some information regarding the warrants that I own and expire in June. In the prospectus, the exercise price is set at $17.72 There is an option within the warrant for the company to extend the warrants if they are out of the money based on the 5 day average closing price. Given that the shares are quoted in GBP, what conversion rate will be used to determine the share price. Will it be the Applicable exchange rate quoted in the warrant proposal document (US$1.384 to £1.00) or some other basis?" and the answer below is what I received.

Appreciate what is being said and looking at your post on the POG site, it appears that I am posting misleading information. Here is a copy of the e-mail that I received, you can then use or abuse this info: Further to your e mail below, I confirm that the fixed exchange rate used for the purpose of converting the warrants is £1: $1.384. Regards Heather Williams Company Secretary PETROPAVLOVSK PLC Registered office: 11 Grosvenor Place, London SW1X 7HH. Registered in England and Wales Company Number: 4343841 Tel: +44 20 7201 8900 Fax: +44 20 7201 8901 www.petropavlovsk.net

I have had an e-mail from Heather Williams at POG stating that the conversion exchange rate is fixed at $1.384 Going by this, then the warrants are well out of the money and an extension is possible based on the warrant terms.

I don't think it's a question of 15p or 150p. Its a question of nothing or extension. No extension announced shortly and these will be worthless. Extension announced and everyone has another year to see a return on these.

Not sure I follow your logic. $17.72 at current exchange rates is £11.66 + £0.93 for the warrant = £12.59. So share price only needs to rise by 80 pence. As per the warrant documents, POG have the capacity to extend the warranty from 5 weeks before the expiration to 1 week before. They can do this if the exercise price £12.80 is below the average of the 5 days closing market price before the announcement. The price you see here is the down to the market expecting the shares to rise above £12.80 or the warrants to be extended. I believe that the announcement on the 6th May will include an extension of the warrants if the share price is below £12.80. I don't believe that the IMS being released one day into the 4 week window is a coincidence

And £74m of the assets are intangible. According to the last statement, there is going to be an impairement charge of up to 10% which will mean the company actually records a loss. Net current assets were only 107k at the interim stage.

Questions still to be answered on this one. NOTE: If it can be shown that any business of the company has been carried on with the intention of defrauding the creditors, the directors who were knowingly involved in such action could find themselves guilty of fraudulent trading. In such circumstance the court can require the directors involved to make a personal contribution to the company’s assets. AND You also have a more specific duty not to accept any benefit from a third party (that is, someone other than the company or an associated company) which is offered to you because you are a director, or because you do or do not do something as a director. Such benefits cannot be approved by the other directors.

You are buying into a company with 8k of underlying assets. Raise 400k through placement and have running cost of 400k. LOL

Sorry, you have just trigger by bullsmit meter. The CEO of the company told you that he thinks the SP is being manipulated and that someone may be positioning for a bid. Sounds like he is a ramper!!!! No way did this conversation take place, this would be deemed to be price sensitive.