Member Info for rustybucket

mdunsire, who are you referring to when you say they can theoretically issue shares for free ???

Notes below on the first bonds to mature. In 2022. Now, personally, I can not see any reason why we would even need to consider the convertibles, as they are not maturing till 2024 and they would not ( in my opinion ) be willing to negotiate, why would they. But we need to be looking at a plan for the bonds below as we will not have the capital to repay all of them.

Options borrow money from institution, we originally were with a bank, but terms were too restrictive.

Have a new bond issue for the whole $500m ( I think we should have some capital to repay some by 2022.

Have a bond issue for a lower amount and repay some.

Or have a rights issue to raise the capital to wholly repay those bonds. Company would need to be starting to look at ALL of their options.

Further to the pricing announcement by Petropavlovsk PLC (the Company) on 7 November 2017, the Company is pleased to announce the successful issuance of US$500,000,000 8.125 per cent. guaranteed notes (the Notes) due 2022.

The Company intends to use the net proceeds from the Notes issue to substantially refinance the loans provided pursuant to the banking facilities by Sberbank and VTB Bank.

The Notes bear interest at a rate of 8.125 per cent. per annum from and including 14 November 2017. Interest on the Notes will be payable semi-annually in arrear, on 14 May and 14 November in each year commencing on 14 May 2018. The Notes are guaranteed by the Company, JSC Pokrovskiy Rudnik, LLC Albynskiy Rudnik and LLC Malomirskiy Rudnik. The Notes of US$500 million are due for repayment on 14 November 2022, as a consequence no principal payments are to be made prior to that maturity date. However Petropavlovsk 2016 Limited, the Issuer, may redeem all, but not part, of the Notes at par plus accrued and unpaid interest at any time on or after 14 August 2022, by giving not more than 60 nor fewer than 30 days' irrevocable notice to the Noteholders.

UPDOWNFLAT Personally, I think you statement is very unfair to the previous board. If someone indicates, they are happy with the board, and votes with them, and gives no indication of dissatisfaction, how the hell can that be the old boards fault. If they had prior warning, I would agree, but they did not. Until after the event.

Working stiff, what if those resolutions relate to convertible bonds, and possible purchase of remainder of TEMI and I know a possible rights issue has been mooted ( all speculation and I don't know I haven't seen the full info on these ) And to be honest most companies ask for shareholder approval although very few use them.

Lawrence13, if the radical changes to the bod had been released earlier, it would have given the board the chance to respond. I believe there was an RNS at 7.00 am advising of the results.

There was a question and answer session, which I listened to and commented on at the time, but, in the circumstances, I found very timid, and there were very few questions.

I believe the vote was done to cause maximum effect, bearing in mind only months earlier they had suggested they were going to be supportive. At the AGM They did say they were going to have active dialogue to try and find out what the issues are.

In Peter Hombres defence, there was a question at the AGM from a personal investor, which was not allowed because it was the AGM. Peter offered to personally ring the person after the AGM to personally answer the question.

They did seem a bit shellshocked,

Cheers Lawrence13, he is normally fairly good, maybe with what is going on, they are extra busy. I am sure they will respond to you.

Sailor Beware, where did you get info on possible results. Nothing on Petropavlovsk website, and because last ones were delayed, there may be a delay with these. For anyone with time to spare might be worth giving investor relations a ring or an e mail. They normally reply quickly.

Freddie2, of course I know thats the case, and for those people, I have sympathy, but, if the rights issue was not underwritten, POG might have went bankrupt, and the share price went below 5p for a very small time after the rights issue.

Better to have something, rather than losing everything, and some people have done very very well, and if things get back on a normal course then there is still a lot of upside ahead.

Not without uncertainty, but, as I have posted on numerous occasions, nothing is ever as clear as it should be with POG. There is always some underlying current.

I think some of the get rich quick brigade have been very surprised by recent actions. Long tremors expect the unexpected.

Updownflat, The devil you know hasn't been kind to us, 5p rights issue up to 34p. Thats not kind.

I know all about prior to that, but, at least people who had the resources had the opportunity to participate in the rights issue.

CoFe, have you been asleep, that has been mentioned half a dozen times and when they sold it was an RNS.

Firkin have GONE, But who do the new investors who have just bought over 3% support. Thats the question ??

Everest Alliance Limited (formerly known as CABS Platform Limited) City and country of registered office (if applicable) 5 Secretary's Lane, Gibraltar, GX11 1AA, Gibraltar, British Overseas Territories 4. Full name of shareholder(s) (if different from 3.)v Name Cabs platform have been involved for a while seems they have changed there name to Everest ALLIANCE.

Latest RNS IS NOT THE BEST NEWS. We need someone who is batting for us to be in control. More bloody uncertainty.

This has already been debated on here, that is not the case. The 1p relates to the nominal Value, which is actually virtually meaningless.

mdunsire, I have said I admire what you are trying to do, but I believe you are wasting your time. NOW, let me make myself transparent. I, 100% believe that people should vote. Everything to help the old board if you support them. But, if I say I have 20 million shares, you do not know any difference. Of course I do not have. But we, will not make the difference. Its the institutions. Good Luck every one, and lets make sure, that some semblance of balance is returned.

mdunsire, don't forget, Pavel has contacts as well and a lot of his friends previously had friends in some very far flung places.

GeOrge123 I will be totally honest, although I work in the financial services sector, and have been involved in options, I have never ever, used them, so I am not the best person, The reality is though, there is a potential cost to providers so they will want to make a profit.

ever hopeful, speak to your provider, they may charge an admin fee though normally about £10

mdunsire, I admire your endeavours, unfortunately, on here we are all faceless individuals. People could be giving any amount.

I personally think the power of UGC has been over-stated. They won the vote through inertia. Because people even financial institutions did not bother to vote. You can bet your bottom dollar the company will be canvassing these people and remember , one of UGC,S Supporters has already bailed out.

If we vote for the old board, it will be an easy win. All my own opinion.

Not a problem GeOrge 123 all the best

GeOrge123 I do ot believe we have been shafted, after all its a vote at the AGM., ALBEIT a very important vote, In reality, Pavel is still i control and calling the shots, unbelievably last night, someone was suggesting Peter was back, and he had stabbed Pavel in the back, then the RNS today. I believe Pavel is still calling the shots, and I believe that already IR and the BOD, will be canvassing votes in order to overturn this. The suitors have already lost one ally with Fortiana bailing out as soon as their vote was recorded. I think the result will be overturned and Pavel and co reinstated, my opinion only, but the big problem is the loss of trust between The bod and UGC. They have said they will try and see what has gone wrong, but, it will leave a sour taste. The bottom line is a rebel amount of shareholders, we have been here before many times.