Member Info for Urraca

EVR categorically denied the OFSI allegation yesterday:
"Furthermore, the Company denies the statement that it is or has been involved in providing financial services, or making available funds, economic resources, goods or technology that could contribute to destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine - which includes potentially supplying steel to the Russian military which may have been used in the production of tanks."
The onus must be on OFSI to prove the were right, or accept they were wrong.

It's even flimsier than Blair's dodgy dossier.

The gov is out for blood? Not really, they just want to be seen to be doing something. If it comes down to hardball, EVR is a rather large, well-resourced victim to pick on. Especially with what look like spurious allegations concocted mainly to justify the sanctioning of Abramovich himself.

Sounds like CleverThoughts likes a good old witch hunt, and to hell with due process. Is he a secret Putin fan?

Totally agree PaleBlue. But it has been a fundamental weakness of Boris to make snap decisions based on the immediate but ephemeral political situation only for it to blow up in his face in short order, followed by a rapid and humiliating u turn. One of our great strengths is our rule of law, but this has been over-ridden, especially in the case of Abramovich. My heart does not bleed for him, but is it really right that all the fans, all those employed by, all the secondary economics benefits which flow from the Chelsea football club should effectively be sanctioned too simply because RA owned the club? It's the same with EVR, the allegations made by HMT looked tissue thin. How can they possibly stand up in court? The smart thing for the FCA to do would be to try and drag their investigation out until there's some sort of resolution to the Ukraine conflict, then dismiss it and lift the suspension. That's how I'd play it. I'd also be having informal chats with EVR (usual channels), to get them to play along, and make some governance and personnel changes to improve the optics. Funnily enough they already seem to be doing that. Just need to wait for the inevitable conclusion to the conflict. It has to be a compromise - both sides need to save some face. But the sooner the better, both to minimise casualties, and to ease the distress of the millions of migrants. I hope all senior politicians are bending their best efforts to securing such an outcome as quickly as possible.

I have to say, Biosynex have been far more astute than I was in timing their purchase of NCYT shares. Still, its good to see. Be great if any other biotech decided they wanted a slice of the action too, given the price is still bargain basement.

A robust response from EVR to the rather astonishing outburst from Treasury. I used to have a great deal to do with Treasury back in the day ( I was at the meeting of Finance Directors there when the then Chief Economist announced that they'd decided to change the length of the economic cycle - thus allowing Gordon Brown to borrow lots more without breaking his self-imposed rules. This was greeted with open laughter and derision). Anyway, we used to run rings round them back then, and it looks like they've gone badly downhill since. I've heard its been over-run by Millennials since I left, and they're not interested in evidence based policy making. The law is though.

Reardon, Evraz said just yesterday " it does not consider itself to be an entity owned by, or acting on behalf or at the direction of, any persons connected with Russia, notably Roman Abramovich who is its biggest shareholder, Alexander Abramov and Alexander Frolov.". The sanction against Abramovich suggested the UK Government thinks otherwise. But they'd have to prove it. I think the suspension is temporary while the lawyers work this through. But the Givernment's assertions sounded like a Guardian reader spouting off, tbh. If they had evidence of any of that, surely EVR would have been delisted long ago.

Does anyone know?

The FCA have just facilitated the transfer of all assets of Evraz to Russian oligarchs connected to Putin. The Guardian reading public sector strikes another blow for virtue signalling.

Maestro says: "Rns clearly says if any of those investors get sanctioned evr will get suspended."

But omitted this crucial bit: "in the event that it (The Company) becomes an entity owned by, or acting on behalf or at the direction of, a person "connected with Russia" under the Regulations"

Beware of Maestro, he is not your friend. He is maestro's friend.

I can understand why they are concerned about the optics of paying huge dividends to Russian billionaires. Some people will always moan about that though - is it ever a good time to capitulate to cancel culture? Done now, anyway, but they would seriously have softened the blow if they'd announced a share buyback programme.

I was looking forward to getting a fat divi. On the other hand I was planning to hold these shares long term, so I'll just sit tight. Maybe we'll get a whopper of a dividend in June. Meantime, no reason for the price to drop by 37p in the morning now.

Rony, quick tip. There's no point trying to scare peeps into selling after the market's closed, and your prediction will be proved true or false before it opens again tomorrow morning.

You need to hold the shares over Weds night to get the divi, so you can sell first thing Thursday morning. Please do - I'm hoping the price craters again so I can buy more. Then a final top up when the divi hits my account, should deliver a £50k tax free annual income for life.

Andre, Israel got invaded, beat back the invaders, and won. Guess of that's bad in your book, you must be rooting for Putin, right?

248 posts on the EVR board today and I've never seen such a concerted attempt to talk down a share price with a mix of wild speculation and outright lies. Must be a lot of app traders who put shorts on last week, but only cottoned on after it had absolutely cratered.

Credit Suisse? They're not listed in major shareholders, so their holding, if they had one, was under 3%. There is no way anyone except a credit suisse employee would know if a) they did have a holding and b) if they'd sold 95% of it. Would you really risk a job to post on a BB, or is it just a liar making things up?

I can still buy and sell in my Barclays account - when the market is open - so these scare stories about not being able to trade look bogus. As bogus as calamari repeatedly posting about the shares being suspended, while saying he doesn't think it will happen.

Don't forget, Daisylou has been invested here from a much higher price, probably to harvest the dividend. Looks like s/he sold out taking a massive hit, and is very grumpy about it. Hence trying to scare new investors who got in at a much more advantageous price back out again.