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Surely Jenni - it's a "hedged" option - I think they have initiated it to "see what happens" and only actually exercise that option if reaches that point where it appears to be in the best interests of the company and (err.... and the shareholders)
I'm GENUINELY in full support of the RNS issued - The company is well placed both geographically and financially to offer such aid as they see fit in this time of crisis and to hell with the financial consequences to shareholders - it is right and proper for them to do so - Well done to the board of FXPO
KIGHT - simple google search comes up with attached if it helps . . . . . COMPUTER RISK MANAGEMENT LIMITED (02783851) - based Manchester/Hale area
https://find-and-update.company-information.service.gov.uk/officers/YkzNMpkD8tZqdmgDo79sMDEUQdo/appointments
Spot on Jenni - more or less exactly as I see it !
My somewhat simple take as it stands
ordinary shares will be converted into preference shares by way of a bonus issue (at what rate is anybody's guess at this time but I'm guessing (and hoping) somewhere in the range one for three to one for six)
the preference shares are simply a surety against debt - again the market will ultimately value something approximating their worth, it'll be personal choice whether or not you trade them if and when a market actually opens up for them.
Apart from the delisting and conversion - it's all been "hedged" into a put option which may or may not be exercised (depending on the Ukraine and sanction situations) at some time in the future
The whole thing being put in place to mitigate exposure to sanctions against Russia and the uncertainty of the Rouble exchange rate and even their ability to get revenue out of Russia
Nobody knows what the outcome in Ukraine is going to be and Raven are simply trying to "protect" their assets for the "benefit of their employees and stakeholders" (take that as you will !!!!). I think they are actually kicking the can down the road a little bit as I'm clueless as to how long any "required regulatory and other approvals" are likely to take - if Ukraine is "all over" or massively improved by the time the approvals have come through then the nature of the "put" option means they can re-assess the whole damned mess !!! (which is not, let us remember, of their own making !!)
Lets face it - there's nothing we can do at the moment - can't even sell - so it's back to the bottom drawer for these little bunnies and hope for the best !!!)
GLTALTH !!!
https://www.rrhcyprus.com/about/
looks not dissimilar from
https://www.theravenpropertygroup.com
@BigK - Bens Creek is available on Trading212 - £1 minimum trade (fractional shares too !)
"The ability of the Company to continue to access the funds of its Russian subsidiaries and whether those funds can be converted to the correct currency at a commercial exchange rate is the greatest uncertainty at this time."
Hmmmm says it all really - can't see why it can't continue to earn loadsa dosh - problem is that we are probably screwed unless you want it in roubles . . . . . definitely a share to pop in a back drawer and forget for a while (IMHO of course)
Raven Property is the company - RAVP are preference shares issued by Raven Property - holders of RAVP are paid 3p/share as a dividend four times a year
For more info - see below
https://www.investopedia.com/terms/p/preference-shares.asp
Risk of FXPO assets being (deliberately) obliterated by the Russians is probably close to zero - if they (are allowed to) stay then it's possible that they may "appropriate" the assets - if they go then there is no real obvious tactical advantage (cept maybe spite !) and obviously the cost of munitions and I don't think even Putin can justify that !
Hi Ray - My biggest worry is not that they go bust - they have a great business model and warehousing is probably going to be needed more than any time before (although how they get paid for it also figures) - no my biggest worry is that the Russian state steps in and claims it for their own - with a "hang the consequences" - "let the rest of the world suck on that" type of attitude
I'm holding and hoping - what's lost is already lost - what I still have I am counting as naught - if I lose the rest then I am lucky enough to be able to move on - if normality returns (or a new normality !!!) then I'll only have regrets when (and if !!) a rebound arrives (however long that may take).
In the short term - I get a feeling they may not be in a position to even honour the dividends - I reckon they may become unlisted and then there'll be a devil of a job to recoup even the current (residual) value of the shares. You pays your money you takes your choices !
Still - Good Luck to all holders whatever choice they may make and regardless wishing for the best outcome for all the citizens of the Ukraine and of Donbass.
Try this for dividend dates
https://www.dividenddata.co.uk/exdividenddate.py?m=&fm=&sc=dd&st=1
43 minutes in - all encouraging stuff - they reckon on around £1 in 3-6 months and a 10p divi to boot in a possible 800mil mcap business - offtake partner taking all they can get their hands on washed/unwashed by road if necessary
Crogy
If it gets voted in then it'll work pretty similar to a dividend - RNS states 1st March
So on 28th February shares will go "ex-consolidation" immediately after trading lets call them "Old Shares"
You will be advised your new entitlement and new certificates issued - at the proscribed ratio - (RNS states 1:50 and call them "New Shares") - the shares will be suspended at close of play on that date and can no longer be traded (technically at that date -worthless)
On commencement of trading on 1st March the New shares will commence trading - at which point the new shares will seek their own trading level - presumably at at ratio 1:50 but its not necessarily an exact science
Arguably there is no difference in the cash equivalent of the shares you own - share price x number of shares held (although you will lose any fractional amounts) - it should appear fairly transparent on a nett basis
IMHO if he is raising cash for acquisitions then the likelihood of imminent dividends would be substantially lessened - dividends would normally be used to spin off excess cash (yes yes I know he has strongly intimated - dare I even say promised a dividend return , nevertheless it should be in all shareholder interests that BEN invests in acquisitions if its more cash accretive over the long term !)