The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
in the event that the bondholders convert???? No this is rubbish. If this was the case then why have they not clearly stated this?
They clearly state that the shares will be issued to the directors. There is no mention of the bond there is there?
please respond to my question? Why rubbish?
I am a trained fund manager by the way.
please tell me why rubbish??
so basically the directors get to buy 24% of the outstanding shares in the company (i.e. new shares in issue = 1+1/3 of old value).The 30% of new issued shares= 25% of the newly issued share total. This put the directors and their shareholder backers (the oligarchs) in full control of the company. And by the way they buy this for the pricely sum of £11m!!!
This is pure fraud. The Share price could easily go back to 5p;
Rustybucket,
whichever way you look at it...whether the old or new board proposing this ..you have to see it for what it is - namely directors buying 1/3rd of new shares at 1p each (and not giving you the opportunity to buy at this price).....where do you think that leaves the market value of the shares? This is theft pure and I am sorry you are unable to see this. This has NOTHING to do with the convertible at all. Our only hope my friend is if the LSE get their act together , force them to make an offer for the company and we all ONLY agree a minimum £1 price tag....!!!
Rusty Bucket- did you read articles 19 and 20 of the AGM??? and the approval and disappoval?
It is more than 100% clear from this that the criminal together with his oligarch accomplices intends to via backdoor underhand politics take majority control of the company by issuing 30% of new shares to the directors! This dilution gives them total control i.e.more than 51% of the voting rights. Then they issue thereafter as many further shares as they wish at as low a price as they wish being in control and wipe out the small shareholders. It is criminal and of course WE all need to fight this at the next AGM by kicking out his elected board of directors, reinstalling the old BOD's and revoking article 19 which allows him and his croonies to take control of the company and pocket all the future profits.....Bonum capital is just another oligarch cyprus investment vehicle taking more shares in collaboration with Strukov of UGC. How do you think Strukov made his first $2b by hard work - no by crime/theft just as he is planning now with LSE investors of POG.
Yes your comment and reference makes everything 100% confirmed and clear.
The oligarchs wish to issue new shares to themselves and by doing so giving themselves complete control and wiping out or diluting the Small investors to oblivion. This is outright criminality and unfrtunately so typical of Russia. Im selling yet more of ths share. Im not confident that the LSE Takeover Panel will have the clout to prevent these horrible crooks ....
We should all stand out really not sell the shares and vote the old bod back in at the next AGM.
It is Strukov of UGC who wishes to take control of Pog at a cheap price when it could be worth £5b+in 1 year....he plans On merging the cos and would give Pog shareholders a rotten deal in any supposed merger which would in reality be a backdoor cheap illegal takeover .....
I think we are in the process of being shafted which has already started with the 20% SP decline.
Only hope is that Pavel Maslovsky does something about it by blocking this stealth illicit backdoor taking control of the company by the oligarchs for as cheap a price as they manage...via multiple share issues etc. Other tactics taking money out reducing the so called profits to share price falls more...then they buy for a fraction of what it is worth...
Lawrence- because the oligarch group are planning to take the company into their private ownership by stealth and take away from you all that lovely upside there was in the share price as gold goes up to 2000+....
So the upside has gone from 3/4/5 x jump to at best 30% with even downside risk now as they destroy the share price value through stealth share issuances.
well I was in this share to enjoy the full benefits of increased profitability when gold prices move towards 2000 and beyond.
For me this action of the oligarchs takes away all the shine of the shares. A move to 45p would be 60% upside, not bad but many other opportunities out there offering 60% upside without Russia risk. Without their greed and involvement we all had a decent chance to see a share price move up to £1 to £2 over the next 18 months.
JPAX - no I dont envisage the share price being driven right down.
You do have a gold miner in a good position now to take advantage of increasing gold prices...and which could lead to much much higher profits----that why the oligarchs want it now...
In my honest opinion it could ultimately be taken over by them via stealth from anywhere between 20-35p.
What share price do I think they will take it to?
This i cannot say. I don't think it will be as low as 10p etc...
It might stay around where it is even go up to as much as 40p/45p still.
Takeover value might be around where we are now or a bit higher.
What I am saying is we can all forget about our 3/4/5 x bagger now.....
Dark Knight- you know I would love to agree with you .....but we are all up against the dark profiteering forces of the oligarchs here who want their billions and are not interested at all in us. We just saw what they did to the board. They will find a way to take the company private at a cheap price for them to privately gain the billions. It is written on the wall. I am keeping half of my holding for another 3 months in the hope that they (the oligarchs) can in some way be blocked but this may well just be wishful thinking. (And by the way if they dilute the shareholdings with their own purchases then do the maths they still get majority control of the company. The new "cash" they invested via the share placements in the company they simply lend back to themselves or pay back to themselves as inflated salaries.
Rustybucket,
yes nothing against Pavel of course. Maybe the motive was genuine about the Russia listing but I doubt it.
And have you seen any large share price gain coming from Russia - NO! Thats because who will buy there most (and especiallly the newly issued shares which will come) will be the oligarchs not the private investors in Russia!!!
The only way we could block this would be by forming a small shareholder alliance or find out who the other 60% shareholders are and block the intentions of the oligarchs. Admittedly many shareholders have nominee shares with financial institutions so difficult to find out out the true underlying shareholders..
Yes exactly.
In Russia on the stock exchange they do almost as they please with little to no Governance.
The Board coup means they have managerial control in their hands. I think we become fools to continue to believe them. Maybe worth a letter to Peter Hambro asking him for his views on this. These oligarchs are disgusting power and money seeking in individuals at all cost. And with a likely POG company value which could go to £5-10 Billion+ if gold goes north of 2000 ..the all packet at least 1-2 Billion each.
Hi all
Im new on here and a shareholder in POG. I really had high hopes for this share to stil be a further 3,4,5+ x bagger over next 18 months as gold price continues up....BUT sadly my suspicions are coming true. Its not us the small shareholders who will take this gain but the russian oligarch with their private companies Everest, Slevein and UCG. Now we also know why they listed in Russia - these russian oligarch millionaires will take the billions to be made from us by issuing massive new shares in russia at the price they wish which they will themselves buy ..and ultimately dilute the other 60% shareholders down to an insignificant shareholidng. IMO opinion the money for PI's has been made now on these shares. The only small hope is that the Takeover panel force these controlling oligarchs to put in an offer for the company. If not your shareholding will be constantly diluted by the oligarchs or they will just take it private at a small premium to market value and enjoy the rest of the billion gains for themselves.