Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
Interesting. That's the same news Andrey posted in the thread below.
Nothing on the Evraz website but I'm sure RA and friends were kept up to date at the time. As long as they know what's happening...
What we know is that Evraz s trying to sell the NA operations and Russia has introduced law 470-FZ allowing for Russian ESOs to be stripped from holding companies in unfriendly states.
Potentially, the sales proceeds from Evraz NA could be used to pay off Evraz plc's debts. The Russian subsidiaries could be re-registered directly into the names of Russian investors. In this scenario Evraz plc no longer has any assets and is effectively a worthless shell.
Nothing has happened yet but things are moving in that direction. Expect the worst and hope for the best, as they say.
Has anyone here bought or sold Evraz PLC OTC since the company became subject to sanctions? If so, was it a straight forward process once the price had been agreed?
Comments from anyone with experience in trading Evraz PLC post sanctions appreciated.
HR person appointed at the end of last week.
https://www.marketscreener.com/quote/stock/EVRAZ-PLC-9428118/news/EVRAZ-plc-Changes-in-the-composition-of-the-Board-of-Directors-44754850/
Link to webinar below.
https://aebrus.ru/en/aeb-events/crisis-update-sanctions-and-countermeasures-new-rules-re-economically-significant-organizations-and-/
For those not familiar with recent developments, 470-FZ comes into force tomorrow.
https://nextons.ru/en/news/
This new law will apply to Evraz (as a Foreign Holding Company domiciled in an Unfriendly State) and MAY result the loss of some off Evraz's Russian subscribers should they be classed as Economically Significant Organisations or ESOs.
There is a Zoom webinar on Friday that you may be able to access, if interested. I'll post a link to that shortly.
Fingers crossed for minimal impact and GLA.
"Past performance is no guide to the future and the value of shares can go down as well as up. You are advised to get independent financial advice etc. " You know the drill, it applies to FTSE 100 companies as much as any other. FTSE is lower risk but the risk is always there.
Nobody in politics will bail you (or me out) unless you live in Russia apparently. This new Russian law forcing subsidiaries to be taken away from foreign parent companies is highly unusual. It has a lot to do with the relationship between Putin and the oligarchs IMHO.
The UK/US/Canadian Government could potentially try to put countermeasures in place against the new Russian law by, perhaps, arranging for Evraz to be stripped of non-Russian assets with a view to those being given to non-Russian investors but, let's face it, the general rule of 'buyer beware' would probably be thrown at that idea.
FCA hasn't sanctioned anybody. They simply regulate the market and suspended dealing in the shares to stop others from getting into the mess we are in. The UK Government sanctioned RA and then Evraz PLC.
The UK Government is not taking anything away from Evraz PLC. It's the Russian Government that (probably) will do that.
The blame for the broader situation and the new Russian law lies with the Russian Government and nobody else.
Source: Consolidated Financial Statements as at 31 December 2021
Assuming the entities meet the criteria specified in the new law, these are the subsidiaries in Russia that are at risk of being classified as ESOs and transferred away from Evraz PLC into the direct ownership of Russian investors:
EVRAZ Nizhny Tagil Metallurgical Plant (EVRAZ NTMK") (Steel production) 100% owned
EVRAZ Consolidated West-Siberian Metallurgical Plant ("EVRAZ ZSMK") (Steel production) 100% owned
Raspadskaya (Coal mining) 93.24% owned
Yuzhkuzbassugol (Coal mining) 93.24% owned
EVRAZ Kachkanarsky Mining-and-Processing Integrated Works (Ore mining & processing) 100% owned
Outside of the scope of ESO classification are the following non-Russian subsidiaries:
EVRAZ Inc. NA (Steel production) 100% owned
EVRAZ Inc. NA Canada (Steel production) 100% owned