RE: Whats next / no way back to LSE11 Aug 2022 23:12
“ Buck...the reality is that places like Dubai are trying to establish themselves as major players...so are happy to welcome rich international companies”
Actually Dubai has always been hostile towards foreign investment and is slowly turning around. The USA and the UK are the worlds foremost stock exchanges and are therefore the natural places for global players to reside. How much capital can Evraz raise when needed sat in the Dubai exchange.
They’ll basically chop themselves off from the major global capital markets.
Infinity and his telegram group are filling peoples heads with nonsense.
RE: Whats next / no way back to LSE11 Aug 2022 07:39
“ Uk citizens might not be able to do business direct with Evraz but dividends can be paid to individuals registered on Evraz register and paid through an over sea’s account indirectly”
This would be a very silly thing for a British citizen to do in my opinion.
Buckeye - you have pretty much nailed this for me - all shares rank parri passu - it’s an underlying fundamental concept of share ownership - all shares being equal.
The simple thing for me is if Evraz was able to pay a dividend it’s because the sanctions have been lifted at which point the suspension would presumably end, Evraz would restart their relationship on the CREST platform and the brokers can start trading again. Yin this scenario holding paper would be a pain in the cheeks and they would need to be transferred back, presumably at cost.
Dividends are probably a moot point anyway because looking at the forward guidance in the trading update and the barriers caused by the sanctions and the fact they are looking to sell off profit generating subsidiaries suggests to me either they are looking to shrink into a Russian only entity and possible go private or they are struggling to produce any meaningful future cash flow and are trying to keep the lights on.
RE: "Asset freeze Means no UK citizen or company can do business with them- Online or Paper both10 Aug 2022 20:51
“ Thats incorrect - let me share what a member of our group was explaining related to the sanction law:
“ EU regs: Can the EU owner of the shares or bonds of a listed company sell them? Last update: 8 April 2022 If the sale does not result in making funds or economic resources available to the listed company or for its benefit, it is allowed”
RE: 12th of August - last day to request paper certificates10 Aug 2022 20:44
Infinity - does anyone in your telegram group actually have any expertise in this? My understanding of telegrams groups from various boards in they are full of wild unsubstantiated speculation and folks telling each other what they want to here.
This is a completely unprecedented situation where there is probably a very small number of people who know legally how to play this. If the company does delist and go down the private Russian route (which I am even more convinced of given today’s RNS) then all shares will surely need to be re-issued as they are in the name of the plc. HL and the other brokers have a duty of care to their clients and I think that’s an important point to understand. They are also the legal owners of all nominee shares so will have to act in order to protect their clients interests.
I haven’t seen you substantiate one point regarding changing to paper, only wild guesses and speculation.
I started out with HSBC, they are a terrible broker. I’d get yourself onto HL or IG. I remember once the vaccine was announced I was trying to trade the beneficiaries like TUI, CINE, etc, and they wouldn’t let me purchase any.
When I phoned them up they said they had put blocks on them as they felt they were too risky!