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This article sheds a bit more light on issues already raised regarding Evraz's involvement with the Russian military.

https://www.occrp.org/en/37-ccblog/ccblog/16587-despite-denials-abramovich-companies-have-supplied-materials-for-russian-military

Thanks for sharing. I think this is a very sensible way forward and I hope that other brokers do the same thing.

The broker has the share certificate which identifies the legal owner (i.e. the nominee account). By reference to their sub-register, the broker can then identify the beneficial owners and whether they hold the shares within a tax wrapper or outside of a tax wrapper.

There may be a custody charge for holding the share certificate (the broker has to keep it safe and I believe that they also need to reconcile the certificate against their sub-register on a regular basis). This may incur an annual fee but given the circumstances (i.e. this is being forced on us by the resignation of the registrar) I would hope that brokers will waive any custody charges.

I would imagine that there are discussions to be had around that point between Evraz and the brokers that own the nominee accounts.

The brokers maintain their own sub-register which identifies which of the broker's client is the beneficial owner of the shares in their nominee account. If the broker shares that sub-register with Evraz, then Evraz can identify who owns the shares. But understandably brokers will have reservations about handing over all that personal data. They may not be able to do it without the written consent of the beneficial owners. I'm sure it's doable in theory but the clock is ticking and we are in holiday season.

No broker is going to want to undertake on a large scale? I think you're assuming that there will be simultaneous and large scale redemption through a single broker. Me thinks not.

I have accounts with HL and Redmaynes. I have share certificates in my files and if I phone Remaynes and tell them I want to sell 1,000 shares in for example Pru, they will ask me if I have a certificate. As long as I have a certificate for at least 1,000 shares, they process the trade and send me a new certificate for the balance minus 1,000 shares. It just doesn't settle as quickly as shares held in custody by the broker. But if you don't want to pay custody fees, you take the certificate and hold it yourself. There are plenty of people that don't want to pay custody and are in no hurry for settlement.

If Evraz does trade again and shareholders have certificates, they will sell them as and when through whichever broker they choose to execute the trade. It's no biggy.

As for this being a step to going private, it's not IMHO. The registrar has given Evraz notice, not the other way around.

Most stockbrokers will take share certificates. That's how it was dealt with in the past. No settlement is made until after the cert is received but that's the only down side for PI's.

Just need the suspension come to an end...

I thought EY were reappointed at the AGM...

If things don't work out, it may be worth having the certificate so that you can frame it and have a conversation piece for a dinner party one day. Not sure it's worth paying £100 for that alone.

Hopefully one of the brokers will tell us the pros and cons of having the certificate, given the company's circumstances.

The company has to maintain a register of shareholders. If a third party won't do it, then the company has to bring that function in-house.

You don't need to have the register in-house to do a share buy back. I don't see why you've made that connection. There is a risk of putting two and two together and getting five :/

Going back a bit to my previous life at an asset manager, the answer is that the shares have to be held in the nominee account of an authorised and regulated ISA/SIPP manager. Authorised and regulated managers are recognised by HMRC to administer the relevant tax wrapper. Evraz is not an ISA/SIPP manager and neither are individual PIs.

So, you can't just ask your ISA/SIPP manager to transfer the shares from their nominee account to you in a certificated form without you loosing the benefits of the tax wrapper.

Apologies if things have moved on in the last few years but that is my understanding of how the tax wrapper operates. I'm going to continue to hold ISA shares with HL but I may ask to transfer shares held outside of tax wrappers into a certificated form, once I understand more about the risks/benefits.

Why? The registrar is terminating but we don't know why. It was their call, not a decision by Evraz.

The register of shareholders is maintained by a third party, Computershare, which specialises in the provision of this function. With a lot of shareholders, the company itself does not want to get bogged down with the work involved in maintaining the register.

What is concerning is that the registrar has given notice to Evraz. Evraz will be doing the work themselves, rather than appointing a new third party registrar. It may be that other registrars don't want the business. That could be due to reputational concerns or the risk of not getting paid in the future.

Why did Computershare give notice? Why didn't Evraz appoint a new registrar? Are Evraz set up to cope with the maintenance of the register? We could do with a bit more info. On the face of it, it's not good news.

4th August even :)

https://www.evraz.com/en/investors/events/

Ignore ^

Posted before it was ready :(

Apologies Coggy. I've always been a bit pessimistic about how this will turn out for us minority shareholders.

The We're very much at the mercy of the majority shareholders and the Russian administration.

She probably wants to know more about that Martian invasion you mentioned...

Lawrence13 - when you hit rock bottom the only way is up. Take a break from this place. There are some genuinely vile people on here and the last thing you need is to be reading their posts right now.

I sunk everything I had into Evraz. Mentally I've written it off but the tiny little bit of hope I have that shares will trade again will (no doubt) end up being the final kick in the balls for me. But I'm not going to let it define my life and neither should you let this loss define yours. Talk to loved ones about what has happened and come up with a plan. Ignore the trolls on here.

I've not seen the corporate structure chart but suspect that the sole shareholder in Evraz NA is Evraz PLC.

PIs, like ourselves, wouldn't be entitled to income from shares held by Evraz PLC.

Here's the difference. In Russia posting something that the authorities don't like can get you arrested, beaten and sent off to Siberia. Here, your posts get deleted and that's the beginning and end of it. You won't get the police knocking on your door and you can sleep at night knowing you're not risking your liberty in expressing your views (however warped they may be).

Now, get yourself over to Moscow and stand in Red Square holding up a placard that says "Stop the war in Ukraine". I bet you'll experience a disgraceful attack on free speach the likes of which you could never imagine. Go on, dare you...

A bit like in Russia, isn't it....? ;)

The reason why the Russians living in Crimea and Dombas should have sold up and moved back to Russia is because they cared more for Russian culture than embracing the Ukrainian one. If they were that wedded to Russian culture, then there was a peaceful solution to their needs. They could have exercised their freedom and right to move to Russia.

What you seem to be suggesting is that it was more reasonable for the Russian backed separatists to engage in violence against the Ukrainian state in Ukraine instead. If commercial airliners like MH17 get shot down along the way, that's fine too. As long as they don't have to move or accept that they are no longer in the USSR, right?

Yeah, fight Ukraians in Ukrainian territory. Get big brother to come over and drive Ukrainians out of Ukraine, torture and murder civilians indiscriminately. That's got to be a better solution to the issue than relocating to a country where your own culture is celebrated.

The Scots can't be compared to the Russian backed separatist movement. You're not even trying with that one.