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I sincerely hope that you are right. I know that some people on here went all with Evraz and delisting is not just a setback. It's an unexpected life changing blow.

Nobody deserves that, especially if they had no idea that a FTSE 100 company was supplying steel to the Russian military and destabilising Ukraine. Where were the BOD with that info? I don't know, but I suppose if the non-execs have all resigned now then that's okay and they can sleep well at night. We'll just pick up the pieces while they sit at home with their well earned pay, which they know will also have a whiff of blood about it.

RA has been sanctioned but Ervraz has not. However, the UK government has accused Evraz of supplying steel to the Russian military.

Evraz is accused of making money out of the Russian war machine and its profits now are seen as being tainted with blood. The UK government will not want to take on RA's stake, or even sell it and donate proceeds to the Ukrainians, and let the company carry on as before. The shares will remain suspended and then probably delisted. Then what happens is anyone's guess.

It's a difficult decision to delist but I think the UK government probably will. I don't see it has any alternatives. Yes, it will hurt PIs. We've been told to expect to pay a price and this will be seen as part of that mantra. But how can anyone expect Evraz to continue being listed on the LSE after these accusations? Proven or unproven the accusations have been made.

The company denied everything it had been accused of and then the following day all the non-execs resign. All of them at once. I don't think they were happy to back the company's denials and, let's face it, they know more about the company's activities than anyone else.

I'm writing my investment down to zero. For your own piece of mind, I would suggest you do the same. If I knew Evraz was selling steel to the Russian military I would not have bought in. But I didn't know. It wasn't advertised and I'm sure most PIs wouldn't have known.

They are being accused of supplying steel to the military. They are not being accused of producing plates used for making tanks.

Am I missing something here? The OFSI publication seemed pretty clear.

https://news.sky.com/story/amp/evraz-the-ftse-100-company-part-owned-by-abramovich-that-has-scarred-the-city-12563144#amp_tf=From%20%251%24s&aoh=16470087871651&csi=0&referrer=https%3A%2F%2Fwww.google.com

"With just 30% of its shares freely floating and available for outside investors to buy, with the rest controlled by Abramovich and his coterie, that should never have been allowed - and it is hoped the UK listing authority has learned a lesson from the affair."

jotom750 - if the people behind Evraz, RA and friends, want to transfer assets to another company then they will find a way to do it. The ownership of assets outside of Russia can be moved to another entity, as can the cash.

The reason I fear this may actually happen is that RA was panic selling all his assets last week at a discount. House, football club, the lot. I don't recall him trying to sell any of his shares in Evraz. Now, why would he not be bothered about selling shares in Evraz? His lawyers or his boss in Russia have found a way for him to take the assets out of Evraz without the needs to sell the shares. IMHO, of course.

We're not planning to delist, they told us. The same way that Russia wa not preparing to invade Ukraine no doubt. I hope I'm wrong. I really do.

"It makes a massive difference - new board members will be employed..."

The reputational damage done to Evraz by claims it supplied steel for Russian tanks is huge. Can't see anyone decent wanting to become a director. The people that were directors don't want to be directors!

I have to assume that my investment here is lost. It's a massive punch in the gut. I'm not sure what protection the FCA think they can offer shareholders by suspending shares but it would be interesting to know.

The only protection I can see would come from the sanctioning of the company itself, not just RA. That way any cash held by the company could be frozen and distributed over time. But I'm not even sure if Evraz holds any significant amounts of cash in UK bank accounts.

Infinity8 - I wasn't sure which two directors the RNS was referring to.

To be a concert party, I think you just have to be holding separately but with the intention of voting as a single block.

The separate holders don't have to be related to each other (e.g.family members), if that's what you mean.

Infinity8 - thanks, appreciated.

Thanks infinity8.

Very helpful.

The RNS states that RA doesn't have a majority but that he has appointed two directors. The RNS doesn't clarify what percentage the two l directors hold. Does anybody know?

Presumably, if between them RA and the other two directors have the required majority then they could be seen as a concert party.

Apologies if this has already been raised. I haven't been following all the threads.

Luis2018 - not quite the same thing. You're comparing the potential risk of vacine side effects against the potential risk of radioactive contamination.

The public and politicians won't be supportive of rushing nuclear projects IMHO. Especially when there are still other options.

Special financial operation. Classic.

We should also introduce legislation in the UK criminalising the use of the word "sanctions" with a maximum custodial sentence of 15 years :)

Great minds and fools... Lol

Where's the RNS on this?

No doubt. Announcement due after close.

Trackers will be offloading.

Thanks JadeDoctor, I'll give that a try.

I can't seem to access it. Anyone else having a similar problem?

Why are we still broadcasting RT?

It's suck a load of b0110ks.

Nice to see you posting again cw1966!

My average was 93p but I sold out at 143p. If this hits 93p again, I'm back all in.

Gla

They'll also make a few bob this year on cheap bunting and Union Jack paraphernalia for the jubilee celebrations.

When this stock brakes out it will fly.