Member Info for Wontongue

The only thing is Jezza is that we aren't only dealing with UMMC, UMMC have the term loan but we still have to deal with Gazprom bank for the RCF loan, so we still cannot pay it.

The latter is where we are stuck for the moment obviously Gazprombank wanted to keep hold of the RCF deal or they would have passed that to UMMC as well?

Moving shares from weak to strong hands.

Hold tight

We had to receive this RNS as it is price sensitive information that the company needs to convey to all share holders.

The good point of this is that they have not come knocking on the door straight after default like many idiots had said on here.

GLA Stay strong

I can second that Tiger, I find that taking a break from the constant SP watching and taking the time to make time for yourself is best every once in a while.

I believe we will get an important update soon enough regarding the situation going forward and I do IMO believe that if this was going tits up we would all know about it and see a major sell off.

All IMHO Wontongue

What have you heard Tiger?

Lawrence - Where did you get the 2nd of May from for the default?

Not sure Davies a lot can happen behind closed doors.

Tiger this is draft legislation that has not been passed, The company has got capital and are looking for a way around the situation they area in.

Trust in the company.

I still think that this sentence from the RNS has a part to play yet.

These options include the sale of the Company's entire interests in its operating subsidiaries as soon as practically possible.

Herbey - I think everyone is having a siesta.

This bit intrigued me as well - Could that buyer be UMMC? who are already in place as a "successor agent"

Regarding the below- Is this the legislation they was referring to?

https://www.morganlewis.com/pubs/2022/04/update-draft-law-on-external-management-over-certain-foreign-owned-companies-submitted-to-russian-parliament

Regulations 2019 (the "Regulations"). In addition to the Regulations, the Company is aware of reports of proposed Russian legislation to make it a criminal offence for persons or entities in Russia to refuse to deal with counterparties on the grounds of the Regulations. If such legislation is enacted, the Board may not be able to ensure that its subsidiaries will comply with the Regulations in Russia.

Hi Lawrence

Where did you get the date of the 2nd of May from for the default of payment?

He needed to cash them in for his next jump with him ladyboy, running out of money over there ;)

Rouble rallying...

Morning All

So we now know that we are dealing with both Gazprom bank for the subsidiaries and UMMC for the Term loan as we speculated yesterday, that means that we are in principle 3 separate companies with a very keen interest in making POG a profit making business.

Next RNS is crucial on situation of payment and export license.

It definitely swung a bit.

https://uk.investing.com/equities/petropavlovsk

Hi 7and28

Are you sure that we get them this month?

RAMP LOL - I was trying to get CWWX his asking price ;);) Priceless.

I was putting it out there for a debate for those who would be interested in looking at it from another perspective.

If we was still dealing with Gazprom bank for the subsidiaries it would be interesting as we still could not pay due to the sanctions, if we had defaulted we would have to have an RNS like we received previously stating this, That makes it very interesting with regards to a new deal coming forward with the subsidiaries in the future once sanctions have past.

If UMMC has paid the TERM loan that means that Gazprom bank has got the immediate payment they was requesting, that means there is no immediate timeline on making a deal with POG thus the reason for no communication from POG until now due to them being immediate and the 26th deadline.

Something for you to think about whilst we wait.

Hi Tiger

I have had to re-read my post as i do not know where you have got that from..........
Please could you elaborate?

Have we looked at all the aspects of the RNS snippet below???

Further to Petropavlovsk's previous announcements (including the Company's announcement of 14 April 2022), the Group has now received notices from GPB purporting to require:

· immediate repayment of approximately US$201.0m (including accrued interest) due under the Company's Committed Term Facility Agreement (the "Term Loan") with GPB; and

· repayment by 26 April 2022 of, in aggregate, approximately US$$87.1m (including accrued interest) due under the Group's Russian subsidiaries' revolving credit facilities.



The Company has also received a notice from Joint Stock Company UMMC-INVEST ("UMMC"), as successor agent under the Term Loan, that GPB has assigned all its rights under the Term Loan and related finance documents to UMMC.

As stated above the TERM loan has been signed over to UMMC as the successor of the TERM loan (Correct)... that leaves us with the Group's Russian subsidiaries' revolving credit facilities- it is not stated that UMMC has taken this on as successor thus POG still cannot repay the 87.1m by the 26th due to sanctions.

Just throwing it out their for the real investors.

GLA Wontongue