Member Info for rustybucket

more for prosperity Resulting situation on the date on which threshold was crossed or reached 2.64 % 3,899,492,481

Position of previous notification (if applicable) 3.146%

Resulting situation on the date on which threshold was crossed or reached 11,61% 3,899,492,481

Position of previous notification (if applicable) 13,98% only because there are now MORE shares in issue

UGC have sold NO shares. The percentage has gone down due to the increase in shares in issue.

NEW RNS out Prosperity its exactly the same.

Resulting situation on the date on which threshold was crossed or reached 24.39% 3,899,492,481

VERY INTERESTING, Both relating to UGC, IT looks as if the convertible bonds had voting rights attached, and even though they have converted, they have a lower percentage because of the extra shares now in place. So less of a chance of the overthrowing the old bod.

Time will tell !!!!!!

I think one does counteract the other, as its reduced debt level, AND reduced interest payments... They needed to be converted sometime, sooner much better than later.

I would suggest they will be announced as quickly as possible after meeting, best place to look is log website, as that is nearly always the first place updated.

Tremor International Ltd

("Tremor" or the "Company")



Share buyback-transaction in own shares



I didn't think they were finished. I wouldn't have thought that any bought for directors freebies would be part of a share buyback, as share buybacks are held in treasury.

Tremor International Ltd (AIM: TRMR), a global leader in advertising technologies, announces that on 4 August 2020 it bought-back 25,000 ordinary shares of NIS0.01 each in the capital of the Company ("Ordinary Shares") in the market at a price of 120.9 pence per Ordinary Share. The Ordinary Shares acquired pursuant to the Buyback Programme will be reclassified as dormant shares under the Israeli Companies Law (without any rights attached thereon) and will be held in treasury.

updownflat, sorry to deflate your dreams, but, at this moment this is NOT a 7 billion pound business. When it is making regular profit, and the cash is going up, the debt going down and its paying dividends that might be the case.

But lets get things into perspective, we haven't purchased TEMI for 53m, we were talking about giving them a boatload of shares, and you, and anyone else have not been able to answer the question relating to forward pricing of gold on the results.

Now, I am not saying that this company is a bad risk, because as long as we are all pulling in the right direction there is plenty of room for share price improvement. But 7 billion plus. A long long way from that. ALL IMHO.

I would be very surprised if share buyback is complete, they don't seem to have bought anywhere near the shares you suggest. I stand to be corrected, but, I would have thought if it was completed there would have been an RNS, I can't remember anywhere near that amount.

JRC1000, I think you are being a little hard on yourself, saying you were ignorant of the Bonds and the accounts generally. The bonds are clouded with gobbledygook and are very very hard to decipher, and covered in small print. The accounts have in all the time I have been invested, NEVER, been transparent. It is all a case of guest games, and trying to join the dots.

Many have tried to speculate, many have come and gone, because, even when it should be very very cash generative, they do seem to be able to spend it very quickly. Now, I am not saying anything is underhand, they have had a lot of spending and are still spending getting Pioneer up to speed. But, there has to be a time when the money comes rolling in, and stays there. At least unless UGC, get in and start taking large dividends.

Saying that, Prosperity, who favour the ousted board, are also looking for dividends.

JRC1000 I believe the cash alternative, is more complicated that the shares option. I am also not sure that we have a lot of spare cash, this company has a habit of spending cash very quickly, we also have Temi to consider, cash ( my preference ) if we have it, or shares, and a $500 million bond maturity in less than 2 years.

Nobody on here seems to be able to answer the question I posted about the forward sales of gold and how it was covered in the accounts. In all the time I have been invested in POG, I can never remember them once, saying we had x or y in the bank at a certain date. It was always a question of looking at the net debt, and hazarding a guess.

JRC1000, I think its a bit late for that , I think they have agreed to the conversion.

I am not sure on this, but, I believe that if it was a cash conversion, then they don't just get there cash back, There is some very convoluted calculation that would have needed to have been made.

I suppose we just have to wait for some new RNS with details of the new shareholdings, which should give us an idea of all of the bondholders who have converted.

Updownflat, What do you mean there was no other way these bondholders were going to convert. They could have quite simply, stayed invested in bonds, earning there 8.25% coupon on a quarterly basis, and converted at the same price, possibly, or probably, with a much higher price in 4 years.

If you had bonds with the same coupon and conversion option, would you ave converted ?? I know I wouldn't have if I had any, unless I had an ulterior motive. ??

working stiff, I do not know for sure, but I know its a very high proportion as UGC advised they were converting $28.4m then we don't know what Everest has. See below

Uzhuralzoloto Group of Companies ("UGC") today announces that it has acted to exercise its conversion rights for its holding of 8.25% convertible bonds due 2024 issued by Petropavlovsk 2010 Limited.

UGC has converted bonds of a principal amount of USD 28,400,000. UGC expects that the Company will not exercise the cash alternative election but will allow all shareholders to convert into shares and to be treated equally in accordance with the recent Court Order.

Mr Konstantin Strukov, President of UGC, stated

“UGC recognises the potential of Petropavlovsk, but we believe that one of the company's main issues is its large debt load. To confirm our commitment to the strategic development of Petropavlovsk, we have decided to convert the company’s bonds into shares. This was intended specifically to reduce the debt load and facilitate the adoption of a progressive dividend policy by Petropavlovsk in the interests of all shareholders, especially minority ones’.

‘UGC, as the largest shareholder of Petropavlovsk, regrets the actions undertaken by the former directors who were not re-elected at the Company's AGM, and believes that the purported temporary directors, even when combined with the directors duly elected by shareholders, do not create a Board that meets the independence criteria set out in the UK Corporate Governance Code.

We hope that the current forensic investigation initiated by another Petropavlovsk shareholder, if approved at the forthcoming general meeting, will lead to an objective assessment of all of the issues being examined. We remain ready to support and engage with the Management of the company in its development and anticipate productive engagement in ensuring a beneficial outcome to the Company’s current shareholder issues”

Updownflat, so you voted for the old board, UGC who are looking to replace them have just amassed a boat load of new shares and you think thats a good thing.

If UGC win the vote and then put there own interests at heart rather than smaller shareholders lets see how you think then.

If it wasn't for the fact that they are the instigators of the old board being ousted, I would have thought its a good thing because of the saving of interest etc, but if its then just to be paid back to UGC in the form of dividends or something worse then that is just taking money out of the company.

All this has done is bring more confusion. Just remember how the sp dropped when the old board were ousted and remember we haven't got an auditor at the moment.

Shareholder participation at the RGM
Shareholders are strongly encouraged to participate in the RGM by voting electronically ahead of the meeting
Only those shareholders on the Company’s register as at close of business on Friday 7 August 2020 or, if the meeting is adjourned, on the day which is two days prior to the time of the adjourned meeting, shall be entitled to vote at the RGM in respect of the number of shares registered in their name at that time.

*** Shareholders must submit votes by 11:00am on Friday 7 August 2020 ***
*** Please note that nominee-holding retail shareholders likely have an earlier internal deadline with respect to their individual Private Client Broker ***

Updownflat, I don't know how you can make that statement without knowing UGC INTENTIONS. It has just given then extra voting power, you think thats a good thing ???

Which way did you say you had voted ??

Working stiff, this has nothing to do with prosperity, It is Everest and UGC, WONDER WHAT PAVELS THINKING NOW ABOUT THE EXTRA $25 MILLION OF BONDS THAT THEY ISSUED.

Working stiff, look at Lawrence 13 post its $48,6 m not 48.6 thousand Looks like they had about 40% of the convertible bonds

Lets see how the market responds to this ?