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Having looked through the rns pages, Over the last few years I can see Q4 updates have been posted mainly between the 28th-31st January
And the Annual Financial Report usually between 28th February and 1st march
The board have been very quiet. Nothing else has been mentioned and disclosed about N/A assets. Also what plans they have on riding out the storm.
Nothing and no communication for months
hopefully we get some updates soon it has been long overdue.
I have read this regarding N/A Evraz which is an interesting read considering the assets are effectively up for sale.
A brief summary of The article below
“More than 100 Evraz employees will be laid off from Regina’s steel mill in February, according to the company.
The steel company plans to reduce its two-inch and 24-inch pipe production, resulting in layoffs at the Regina and Camrose, Alta. mills.
According to Yeats, high volumes of cheap imports from China and Korea are flooding the Canadian market and making it difficult to compete for business.
Over 100 workers will be temporarily laid off in Regina and more than 30 employees will be impacted in Camrose.”
The cut off date was the 19th for easy digital transfer but after that date they said people had the opportunity to transfer to paper but would have to fill out numerous forms and being paper it would be long delays to process
It was on the Q&A page on their website prior to the deadline however unsurprisingly I can not now find these pages if I do I will share the details
I was undecided what to do so did half and half holding both digital and paper with HalifaxOn viewing my account for digital it shows as a Pari Passu Issue has anyone encountered this and know what it means I did plan on contacting them but don’t intend to waste a whole day trying to get through to themThankyou in advance for any assistance given
It is a small segment copied and pasted but the full details can be found below
Chapter 5
Suspending, cancelling and restoring listing and reverse takeovers: All securities
https://www.handbook.fca.org.uk/handbook/LR/5.pdf
I think the person who mentions the 6months suspension is referring to this:
5
LR 5 : Suspending, cancelling Section 5.2 : Cancelling listing and restoring listing and reverse
takeovers: All securities
5.2.1 R
5.2.2 G
5.2 Cancelling listing
FCA may cancel listing .....................................................................................................
The FCA may cancel the listing of securities if it is satisfied that there are special circumstances that preclude normal regular dealings in them. [Note: article 18(2) CARD]
Examples of when FCA may cancel .....................................................................................................
Examples of when the FCA may cancel the listing of securities include (but are not limited to) situations where it appears to the FCA that:
(1) the securities are no longer admitted to trading as required by these rules; or
(2) the issuer no longer satisfies its continuing obligations for listing, for example if the percentage of shares in public hands falls below 10% (the FCA may however allow a reasonable time to restore the percentage, unless this is precluded by the need to maintain the smooth operation of the market or to protect investors); or
(3) the securities' listing has been suspended for more than six months;
(4) the securities are equity shares with a standard listing issued by a closed-ended investment fund where the closed-ended investment fund no longer has a premium listing of equity shares.
The FCA will generally seek to cancel the listing of an issuer's equity shares or certificates representing equity securities when the issuer completes a reverse takeover.
[Note: ¦ LR 5.6 contains further detail relating to reverse takeovers.]
The Evraz website has an Investor Q&A for termination of registrar services by Computershare.
From what I read and understand from it that those with shares are in electronic are unable to buy/sell on crest but they can still transfer to paper after deadline just is longer process.
They claim that those who don’t take paper option and hold your shares via CREST, you will not be able to sell them after August 19, 2022, unless you or your stockbroker (nominee) have received a share certificate.
You should be able to enjoy all other rights attached to your shares.
It might be a useful read for some
And we were sanctioned and suspended by fca to help protect investors.
It also does say it needs to be approved by uk, fca and others and if rasp fell through this could too especially if uk deem it not to help investors.
If it does go the way some predict then fca and uk government just failed and handed the big in command a glorious gift. But think if it does happen how the worst case scenario is predicated nobody will touch Russian assists for long time
Whatever the reason I think Evraz should of been more transparent and notified holders when asking them all to go paper.
Think is a sly move from them
Could it be they are losing money on the Americas if they have not received any income off it for the entire 2022 year it says at bottom of rns
Or could they be worried about future income in that they not generate much profit this year due to sanctions and are selling before they are forced into a Pog situation
I thinking out aloud
It might be something being looked into but rasp fell through why does this stand a chance of being successful
But we now know the direction the board want to take
Looks like the start of a big asset sell off just hope it all done above board and not back handed deals.
That is the americas down, what is next and will their be only the Russian production left by the time it finished.
I am still torn as to what decision to make.
The broker at Halifax not very useful when speaking to them. They seem perplexed as to why Evraz asking everyone to withdraw shares to paper.
I am considering splitting my shares and taking out half in paper. Have to decide by their deadline tomorrow.
It’s giving me an headache lol
So nearly all Russian affiliated companies have now been sanctioned inc Evraz only two remain poly and Pog
Eu is seeking to stop the cash flow to Russia by cutting everything except the two major sources in gas and oil
It seems the
If they truly want to cut the finances flowing to Russia then why is EU still purchasing oil and gas.
Also eu inc France, Germany and uk was doing arms deals after they annexed crimea worth billions of pounds and intelligence reports recently disclosed showed some the weapons abandoned early on by Russian troops to be European etc
so these governments also contributed and continue to contribute to the blood spilled in Ukraine so they need to stop being hypocritical
Has rishi Sunaks wife dumped her Russian company or been sanctioned total hypocrisy from the leaders
So initially they were suspended from lse
“for potentially supplying steel to the Russian military which may have been used in the production of tanks”.
Now uk gov website says
“Evraz plc produce 28% of all Russian railway wheels and 97% of rail-tracks in Russia. This is of vital significance as Russia uses rail to move key military supplies and troops to the frontline in Ukraine”
Seems like a U-turn on a major part of the original suspension statement but now we find ourselves sanctioned.
To sell I get offered 255 to buy is 287
I plan to hold long term but ask Why such a huge gap between buy and sell price
If dividend is not paid sp will drop.
Evraz are a big company also but the moment the divi was was cancelled it slumped
Poly claim to be not affected but this is not 100% true
Eu has banned cargo and Lorrie delivery of Russian goods they also stopped sales to russia. Do we know what banks they use and if sanctions stop them paying debt.
Also if machinery breaks down can they get parts to replace or mend
Poly has 500m reserves, if they had more reserves dividend would probably be paid but 500m is not alot and would be consumed fast for a company of there size and operating costs
Poly are big market player generating huge amounts of cash and before the war was trading 1300-1500
I have factored in the risks and am holding long term even with dividends or no dividends in the short.
Not so long ago they had 500m reserves and had opportunity to borrow same again at high interest rates
I can’t see the dividends being paid as they need the cash for the bumpy road ahead.
Many have idea the funds to be used to clear debt especially on the high rates but there is still a potential issue in doing this and please correct me if I’m wrong but who wouldn’t be interested
the profits they make with a mega low sp price and lower debt they could be sized up for a takeover