The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
If you are happy to consider being included in the class action legal representations against POG management and services providers associated with the administration, please get in touch and forward the following information for further updates.
Email: petropavlovsk_shareholders@hotmail.com
How many shares held (if in different accounts, please list these individually):
The total investment value overall (what you invested, not the close price):
What exchange you bought your shares on (i.e London Stock):
You do not have to provide evidence of share holding at this stage or personal details other than a contact email. Also, there is no obligation to go with the legal services of others.
Please do not write your holdings on the LSE board.
Yes, you can email:
petropavlovsk_shareholders@hotmail.com
Please feel free to share on other forums.
Also, Petropavlovsk PLC is a British Company so subject to British regulation.
Evidence showing UMMC CEO sanctioned:
https://www.ugmk.com/en/media/press-release/jsc-ural-mining-and-metallurgical-company-ummc-hereby-announces-that-on-july-19th-2022-mr-andrey-ana/
There are people watching and commenting on these groups who do not want you to stand up to their malpractice. There is a wave of people who are standing up to them and will not be silenced until justice is served.
Thank you. There is a wave of people happy to fight for what they know is right, with the class action list growing by the day.
There is so much more against those who led or facilitated the administration than can be disclosed at this point, but they are very much so in a vicariously and contributory negligent position and shareholders will not let them away with it until justice is done.
Yes all is in hand FK.
For anyone who wants to reference the relevant parties in any representations of their own, please see the names of relevant persons below for potential culpability purposes.
Names of the external companies and people who were involved in the administration:
*Opus Restructuring Partners LLP*
Allister Jonathan Mason (Partner)
Trevor Binyon (Partner)
Joanne Rolls (Partner)
Nick Hood
Jessie Jennings
Bradley Parrott
*Aaronson LLP*
Dara Barkhordar
Jim Sturmen
Peter Arden
Joseph Hage
Joseph Wigley
Michelle Duncan
Natasha Tociapski
Ian McKim
Key points:
- Gazprom are sanctioned, sanction rules note that they cannot assign any debts legally so any escalation of debt by 3rd parties is illegal
- The UMMC CEO is sanctioned
- Administrators failed to deliver Shareholders with their fundamental rights under the Insolvency Act 1986 and are therefore culpable for the loss of their investments
- Valuations on the company were done based on the “estimations” of the Petropavlovsk CFO. He is not suitably qualified to be acting as a valuation expert
- Opus (The Administrators) have no jurisdiction in Russia. Therefore they could not have performed the appropriate due diligence required as Administrators, as would not have been able to audit the subsidiaries
- Opus Restructuring appointed their sister company (Opus Pear Tree) to perform valuations. They did not go to the market and obtain several professional opinions. Would you agree a price to sell your house with the first estate agent who walks through your door? Not only did they have no jurisdiction in the countries they were doing valuations on, but the companies share the same Directors, so a conflict of interest in regards to the impartiality of such an action exists
- To date, the management and administrators have failed to issue 3 years of accounting records which would attract potential buyers. The management of POG are therefore culpable
- the Petropavlovsk management waived away your Shareholders fundamental right to Bankruptcy protection
- there were alternative offers on the table for the purchase of the company which were better than that offered by UMMC. Ask yourselves why the urgency to ignore these offers
We have multiple legal rights and the Shareholders will not rest, until they are compensated in full for all losses, or the company reinstated and current management removed from their position.