Member Info for Westy54

Red, thanks for the list of Brokers, but my understanding is that we could retain the TF status as the AIX is HMRC approved.

CT, Chique, Jack, from my conversation with Maxim yesterday it is clear that the redom is considered essential, "Its like trying to operate under the sword of Damaclese" was the phrase Vitaly Nesis used yesterday. The asset split on the other hand is not a done deal at all. It is the Boards positioning themselves so that fi they have to split, they can just press a button and it happens, they do not however see it as desirable, they would rather keep all assets under one roof, which makes perfect sense to me. Hope for the best but have a plan should the worst happen. This Board is smart.

*Be kind enough, apologies for my typos

Rylidan, would you please ne kind enough to ask the question and post the answer under this thread? It would clearly be preferable to retain a UK based broker if at all possible. Many thanks

After all the turmoil of yesterday, I decided to do some digging attempting to prioritise where we stand, and indeed could stand should the redom be approved. I for one am holding all my shares in ISAs and my SIPP so I want to know that if I have to complete a stock exchange from the UK to AIX listed shares, can I still hold them in those tax advantageous wrappers. The first article link explains, essentially that as long as the Stock exchange that the Company's shares are listed on is HMRC approved then yes, you can hold the shares within the tax free wrappers of SIPPs and ISA's

https://the-international-investor.com/investment-faq/holding-foreign-stocks-isa-sipp

This second link is a list of HMRC approved exchanges, which, again to save you time, list the Asanta International Exchange (AIX) s an approved exchange. Here is the link to that

https://www.gov.uk/government/publications/designated-recognised-stock-exchanges-section-1005-income-tax-act-2007/designated-recognised-stock-exchanges-section-1005-income-tax-act-2007-v3

Having read both, I my interpretation is that we could POLY shares listed on the AIX within our tax advantageous wrappers.

The final piece of this jigsaw is to find an online broker who will allow trading in AIX listed shares. From what I can find out at the moment, none of the UK online traders offer access to the AIX, however, I trade with ii and have asked the question as apparently many brokers will deal with jurisdictions over the phone that they will not deal with online. Having said that from my research it would appear that Finvesta do offer share trading in Kaz. Here is the article link about foreign brokers

https://the-international-investor.com/international-stockbroker-list/other-international-stock-brokers

and here is the link for Finvesta

http://www.finvesta.lt/en/

I have not yet contacted them, but I might well do so.

I value any input on this as well as your own conclusions as at the moment it is all my own research.

I have emailed IR for more info as well.

I would like to make one final al point for today. If a company delist your still own the shares, you still have corporate rights and you still receive dividends. These as we know will resume at some point in the future. Poly is in sound operational condition generating lots of cash. Our problem may be in trading the shares but if you want to hold long term for the dividend then the delisting may not be such a big issue after all.

OK thanks Ray and Tony

Tony, thanks for the post, does that mean that the isa and sipp wrappers would remain intact even when transferred to KASE?

Thanks Ray, do please let me know what the answer is, thanks again

Did you include my questions Ray?

Ray, are you sending Pandamonium's message to IR? I would be very interested to hear what they have to say about potentially having to drop Tax free wrappers here in the UK in order to hold them overseas.

Also please ask whether the Redom to Kaz and switching to GDR if delisted from the main exchange is a cert please? I can see no reason why this could not happen with a degree of certainty.

I believe the complication will arise when/if they split the assets and I cannot see any UK broker trading a GDR in a new Russian entity. Is it at this stage that we would have to move out to a non UK broker to trade these shares, or would that also apply to the newly domiciled company in Kaz as well?

Those are my questions ref redom and GDR's I was going to send an email but don't want to bombard them. Let me know, thanks

Rubbish was aimed at blueberg!

Rubbish! You still own the shares, can still vote in corporate action and still receive the dividend. It would however become more complicated to trade the shares.

:))

You are right buckeye

Interesting that for a sales person of 30 years you dont value reading peoples body language, perhaps you should have a change of career??

When you see a presentation in person and speak to the ceo, cfo, ir and new auditing director you can learn so much more from them by their eye contact and body language than you do over a link. They are confident, they are smart and when asked, they belive that lending total catatrophe, they are tnrough the worst. Look at the q4 figures for verification. If they redom, even if they get booted from the lse, you still own the shares, you still have voting rights and you still get dividends when they restart eventually. Today has been a total over reaction due to scarmongering a d you can tell that by the way the sp recovered to the close. Make of all that what you will but I am clear that anyone who panicked and sold sub 300 will regret doing that, if they arent regretting it already.

2.5 million shares sold, 2.2 million bought. I dont think all those buyers are wrong do you??????

£6.2m sold £5.2m bought. All that has happened today is people have panicked, sold for a song and others have been able to buy cheaply, all the while the mm's have taken their 5% . Well done all you sellers I wish you could have been at todays meeting, if you had been, you would not have sold. GL all

I nearly took that literally CT :)

Ha ha, nice one CT