Member Info for theofficecat

end of financial year was 31st December 2021...NB new 6 month rule....it is the law.

Section 336: Public companies: annual general meeting
583.This section replaces section 366 of the 1985 Act but will apply only to public companies since private companies are no longer to be required to hold an AGM. Where section 366 required an AGM to be held each year and not more than 15 months after the previous AGM, a public company will now be required to hold an AGM within 6 months of its financial year-end. This new requirement is intended to ensure that shareholders have a more timely opportunity to hold the directors of a public company to account.

Section 337: Public companies: notice of AGM
584.This section reproduces the effect of parts of section 369 of the 1985 Act relating to the AGM notice. The minimum notice period for calling a public company AGM is 21 days as set out in subsection (2) of section 307 or longer if provided for in the company’s articles. An AGM may be called at shorter notice if all members of the company agree.

because she is stupid?

The minimum notice period for calling a public company AGM is 21 days as set out in subsection (2) of section 307 or longer if provided for in the company’s articles. An AGM may be called at shorter notice if all members of the company agree. Section 338: Public companies: members’ power to require circulation of resolutions for AGMs

Good morning all, bit of a strange RNS really, why not wait a day or two as AGM statutory notice period is 21 days? As for annual report being delayed for geopolitical reasons hmmmm also seems a bit strange to me. Looks like they want every last second to utilise. Why? Could they be hoping for more to include? Well not long too wait to find out.

dealer55, I think you might not be far wrong with that theory. Whoever did DD would only have done so if a ball park figure was acceptable subject to successful DD. You do not spend millions and spend months doing a DD to a successful conclusion against still global pandemic unless you are very, very serious. Now it is not at all unusual for the bidder to come back to the table and try to get a lower offer accepted for various normally spurious reasons. This is business right? Be in no doubt the interested parties teams will be every bit as good as ours. So let's say intense haggling was going over and then the shadow of Putin started to loom. I would think even at that stage some of DD would be factoring in what might happen. It happens........BOD hang tough and won't accept low ball offer, ongoing "negotiations" against the backdrop of war. If it was a consortium then this is 10 x worse with so many different parties/lawyers/geologists etc involved.

Meanwhile this is going on the BOD are also negotiating with further interested parties, likely others doing DD? Could this where Artem comes in with his Eurasian connections? I have no doubt plenty going on behind the scenes. I thought recently that if done within 3 months would be good result, still do.

The amin thing is they have told us they are selling the Russian assets. Somehow I do not think that is a lie! Personally I still think there is more than one buyer/interested parties. Remember, why would you split into 3 subs if one one buyer. Wouldn't make sense.

Previous US sanctions on Russia have not been aimed at Nornickel or PGMs. So far in response to Russian actions regarding Ukraine, the US, the UK and EU have not targeted Nornickel or PGMs.

China uses more PGMs than Russia produces (~3.2 moz of palladium, ~2.5 moz of platinum and ~370 koz of rhodium). In theory, in the event of sanctions from Western countries impacting PGM exports from Russia, China could absorb all of Russia’s PGM output.

Russia is the largest producer of palladium with refined output predicted to be 2.7 moz this year (38% of global primary production). The majority of the PGM production comes from Nornickel with a small amount of platinum from West Kytlim (4 koz) as alluvial sources have depleted. Nornickel’s mines are in the Kola and Taimyr peninsulas. The processing route takes some of the nickel matte to the Harjavalta refinery in Finland. The PGM concentrates remain in Russia and are refined by Krastsvetmet (Krasnoyarsk refinery). Russia is also a small, but still important, source of minor PGMs.
Russian production forecast in 2022 (% of global primary supply):

Palladium: 2.7 moz (37.5%)

Platinum: 670 koz (10.6%)

Rhodium: 76 koz (9.7%)

Iridium: 25 koz (8.3%)

Ruthenium: 41 koz (3.9%)

The palladium price has surged on concerns around Russian supply. Given Russian actions in Ukraine, the worry is that sanctions could curb PGM availability. So far in response to Russia’s invasion of Ukraine, US and European sanctions have targeted financial institutions, defense and technology companies, and people in government and close to Putin. Energy companies have been banned from raising capital in the US and UK, but their products have not been targeted. Neither Nornickel, nor PGMs, have been targeted by sanctions previously, and currently there is no suggestion that they would be included in any further sanctions. If they were targeted, short term disruption to supply could occur, which would push PGM prices higher. However, it seems unlikely that sanctions would ultimately prevent the metal from leaving the country. Exports to China would likely still be possible, and China uses more PGMs than Russia produces (~3.2 moz of palladium, ~2.5 moz of platinum and ~370 koz of rhodium).

wolfie, take a day off from being a duplicitous dik, you might fine it refreshing, goodnight now ;-)

seasick, you don't know that, simply making things up to suit you and yours negative agenda..........let me tell you about Japanese business for example. They are a very proud people and place a great deal on face and respect. They are also notoriously slow when dealing with business each step is tortuous. Decision making well.........if you think you need patience here, nothing compared to waiting on a Japanese firm to make one! Step by Step, level by level, and even when you get to the top jeeeeeezz! If it is a Japanese business, especially a conglomerate, the length of time being taken does not surprise me in the slightest!

What I am saying is you need someone like an Arten to be your rep on the ground, be on hand to attend meetings face to face, have the power to make decisions, they don't deal with minions. Hence he is made NED, same powers as a Director. I could go on but you and yours ain't interested only in disruption and negativity. Going to be a long night on here even with a 1830 RNS perhaps. Not for me, happy arguing

Pompal, sorry you are wrong mate, the last RNS stating ............"The Directors are pleased that Artem Matyushok, a high profile M&A professional has agreed to join Eurasia. The experience of Artem and his knowledge of Eurasia can significantly speed up our Russian assets sale process".

Is VERY significant imo.....they have told us they ARE selling our assets and giving this guy the power to meet face to face with power with imo Eastern/Japanese buyers

won't be able to miss a 6ft cat surely?

theofficecat will be prowling there

buckeye, as said you do not need a physical presence in Russia to carry out business, thought that would be pretty obvious even to likes of you. Feeble attempts to scare folk.......hissssss off

GMan you seem to think DLA have to be in Russia to conduct business? Or the BOD have to clarify something that hasn't happened? Wow, must be a great RNS coming because the level of infestation of the negheads and stupid today is mind blowing!!!

So..........UBS on a success based contract/fee don't do anything until a sale is agreed? Well been some stupid posts today but take a bow Montybozzzzzz for the most stupid yet! Somewhat expected though..............

Fact is most firms pulling out of Russia have been fulfilling existing contracts and obligations while at the same time not taking on any new business with Russian links. DLA Piper of many doing the same.

Folk seem not to recognise that we would have had Government contact imo at the start of this sorry state of affairs. We haven't slipped under the radar, we assured any necessary authorities we were disposing of our Russian assets. Sure we got the tacit nod to carry while keeping a low profile. No different to BP or any other firm "pulling out"....in their own time.........not abandoning all and running into the distance.....business is still business........just imo...........purrrrrrrrr just for the reincarnated Neil who is the recently banned Neil McG..whatever it was

let's remember our fallen and what they fought/fight for......still plenty of time for another type of D Day for us yet..........

Good morning all. just Herbies and other z list derampers this morning, that tells me something, that like us they await the RNS. Even if we had a sale one they would find negativity in it. Herbie you need to go back to deramping school as you pretty useless at it tbh

ehhhhhhhhhhhhhhhhhh 5th June 2019!........what is your reasoning for posting it exactly? Trying to confuse folk deliberately? focus on recent RNS folk

Mine is folk shouting in Capitals...................

Dmitri feels about what? Isn't he still chief M & A man? Artem brought on to give process significant boost because of his Eastern connections. The more help the better to get it over the line.