The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Hi all
Perhaps someone can help me on here. I have failed to transfer my Polymetal shares from my UBS Switzerland account to the Kazakhstan AIX. I was told by UBS to set up a new broker on the AIX and Polymetal Investor Relations suggested Halyk and after a very lengthy process, I set up an account with them. UBS communicated to me that they would transfer the shares, but yesterday wrote to me and told me it now wasn't possible and I would have to wait months / years until Polymetal was de-sanctioned. Does anyone have experience with UBS Switzerland and had similar problems?
Thanks for any input, it appreciated.
I agree Onsolidground. For shorts to do this, they need people to lend shares which normally needs someone else to either own them or go and buy them.... So who could be orchestrating this? Ayman Asfari is Petrofacs biggest shareholder and a man with a grudge since his ousting due to dubious business dealings. I find it curious that he set up another company called Venterra and is CEO with a high level BOD, funding and a direct competitor to Petrofac in the Offshore Wind servicing business. Venterra doesn't seem to have any big contracts at the moment so could this be a devious play (possibly with Petrofac Management) to pick up his old company on the cheap... he has the shares to do it???
I agree and the twice a year trading update just leaves everyone guessing and speculating. It also leaves the door open for share manipulation which I hope is happening at the moment, because the alternative is much more sinister given the current share price. They don't even announce the trading update dates and surround it with mystery for some reason. Most good plc's provide a detailed updates 6 monthly and a light version quarterly in between, along with Investor Days etc. We are the shareholders (owners) and we want information and if the CEO i/ BOD are deaf to our requests or just plain arrogant, inexperienced or lazy, then they are all in the wrong jobs.
Alto-ego, that is very useful, thanks and I will follow up today. Hopefully, I won't lose the shares and I really appreciate the direction. Best, Pete
Thanks GLASH I really appreciate this. Pete
Thanks and yes. My Swiss Bank has the certificates, but can't trade them. They have said that if I find a new broker, they will transfer the certificates to them.
I know I will get some angry (where have you been etc) messages and I apologise in advance. I live in Switzerland and have tried to open accounts with Freedom Finance, Taby's and have had no luck. Can anyone suggest the best way forward for me a I had quite a few shares on the LSE and have heard nothing since the re-listing took place. I am assuming that I can still transfer my shares when I can find the right broker. Any direction would be appreciated. Thanks
I think the Brokers need to look in the mirror and ask themselves if they are still relevant today. This year the Broker future target price for THG ranges from 50p to 95p and I'm not so sure they have very much more information than we can see. I also think that they look purely at hard (mostly historical) numbers and not the future opportunity (which most of us see) or the 'sum of the parts' etc. I just find all the Brokers irrelevant and it looks like they have an agenda to play with the share price. They were useful 10 + years ago but have little relevance today and confuse more than help.
Hi, I know its been covered in various posts, but I just don't understand what I have to do to transfer my shares from the UK to Kazakhstan trading exchanges. I hold Polymetal in UBS Switzerland (Swiss Resident) and the bank will not trade or transfer to Certificates for me (Russia Sanctions) so the shares are just stuck. Has anyone else come across this and can anyone tell me what happens if I just leave them there? Thanks for the advice and any advice appreciated......
Tonnacombe, great insight thank you this is useful and Evraz is still fundamentally a fantastic business. Just one quick question, would they be allowed to pay a dividend within the rules of the current restrictions?
To be honest, this message board has turned into pointless individual views on the Ukraine situation. Does anyone talk about the SP anymore? For example. other Russian exposed stocks are starting to trend positively, does anyone have an 'intelligence based' view on where Evraz SP would be today if it hadn't been frozen. Of course at some point in the future, we hope that management are accumulating cash / profit and when the sanctions are removed (which they will be eventually), we as 'frozen' investors, should see a very big spike in a short period of time.
I'm in DLG quite heavy and agree with pretty much all the comments. The on thing that stands out to me is how is the company managing it's shareholder guidance and expectations. Having worked in the corporate world, I always understood that if there was a share price movement of +-10% on Trading Updates, / results day, the FCA / UK Government bodies would investigate for misleading information / possible share fraud. Well this is 30% with little or no warning and management have shown disregard for decent shareholders. We are not gamblers and deal with the information that the company gives us and if the company really can only see these bad things happening after the year has finished, then they aren't in control and have no visibility. Penny James seems to be way out her depth when it comes to managing the shareholders / City.
I'm in the same place as you and it's frustrating. I just think that after all the trouble with the SFO /rights issue etc, just to announce out of the blue that the new CEO is leaving and provide us with no context in terms of business performance leaves everyone asking questions because we just don't know if there is more bad news to come at the Dec update. I don't even think they had to announce the CEO leaving until the Dec update and we could have heard about it alongside some trading information, good or bad. This is chaos, bad shareholder management and whoever is handling Investor Relations for them should be sacked.
Hi Sharebel, I think you are right about the brokers implementing restrictions themselves for fear of breaching any rules and it still means my shares are stuck for the time being. I only posted as a watch out and it still means that many European that might want to trade, simply can't. It will be interesting to see if they allow dividend funds to be paid.
One important point that isn't mentioned is the impact of European sanctions on the ability to trade Polymetal and Evraz shares (and others). I live in Switzerland and have two trading accounts, UBS in Switzerland and Swissquote in Luxembourg with both holding Polymetal and Evraz and both accounts are frozen for these shares; i.e, I cannot sell my shares or buy anymore as the brokers are complying with European sanctions. This doesn't seem to be the case at the moment in the UK and some other places, but it basically means a vastly reduced number of potential investors cannot trade and that surely is helping depress the SP. From my point of view, I will have to sit on the shares until this mess is sorted out and I only post this because if the UK changes it's position, it could leave a few people on this message board in a similar position.