Kenj2
17 Aug 2017
Re: Pavel bites the dust Weblogic,Not sure I follow your comment about Hambro considering retirement. He was ejected from the board at the last AGM, so he has been retired from POG for eight weeks now.As for Pavel, imo he has been played for a sucker by Renova. If Renova had tried to remove 5 out of 6 directors (including the two founding members) at the AGM vote, even the knuckle heads at the Monopolies Commission would have decided that they were attempting to seize control of the company, and blocked them. Instead they promised Pavel that he could stay on as CEO on the new board, which would have 4 new members. It was noticeable that Pavel remained silent leading up to the AGM and never once spoke in support of his old pal Hambro.However, 4 out of 6 gave the Renova gang voting control, and I suspect that Pavel was asked to stand down as CEO and take a lesser role. Rather than be humiliated Pavel then chose to announce his retirement.Unlike you, I will not miss Pavel. It is Hambro that I feel sorry for.
weblogic
11 Aug 2017
Re: Pavel bites the dust Always disaapointnig when one of the big hitters decides to quit.He has indicated that he intends to hang on to his substantial share holding, so presumably sees much good prospects ahead for POG.My guess is that he has disagreed with certain parties on the way forward, and maybe now feels too old to do battle at the top table.Very good luck to the guy...An what of Hanbro... he must be considering retirement some time in the not too distant future.I`d give him til say end 2020 perhaps, by which time this joker might just be road werthy again.Anyone care to guess when a dividend might be reinstated.... or are we stuck with the Russian economy and the ruble...at low levels...
Kenj2
18 Jul 2017
Re: Pavel bites the dust Pavel did not utter a single word in support of his old pal and co-founder when Peter Hambro was under attack by Renova, Sothic and M&G. And now the new board that he helped to elect has decided that he too is surplus to requirements. What a shame, I'm gutted!As the saying goes: What goes around, comes around.
Kenj2
18 Jul 2017
Pavel bites the dust "The Board of Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together with its subsidiaries, the "Group"
announces that Dr Pavel Maslovskiy has today resigned from the Board with immediate effect and is also resigning as CEO of the Company. The Board expects to announce an interim CEO shortly. Dr Pavel Maslovskiy has agreed to continue to assist the Company in facilitating a smooth transition to the new leadership." Commenting on the announcement, Non-Executive Chairman, Ian Ashby, stated:"The Board expresses its appreciation to Dr Maslovskiy for his service to the Group over the past twenty three years, as a founder and one of the key drivers of the Group's development, and thanks him for his assistance to achieve an orderly hand over. The Board wishes Dr Maslovskiy success in his future endeavours."Dr Pavel Maslovskiy, departing Chief Executive Officer, comments:"I have decided that the time has come to hand over the leadership of the Company to new management. I intend to remain a shareholder of the Company and to help with the transition to a new CEO."
Ripley94
25 Jun 2017
Re: Long term holder. Ripely Old board POG chucked out .. Winnifrith says sell he don't like Russians.
nk1999
23 Jun 2017
Re: Hambro ousted Uncertainty ahead?Let us hope the changes are for the better of company and shareholders.nk
Kenj2
22 Jun 2017
Hambro ousted [link]
Kenj2
16 Jun 2017
Re: Renova and Take-over Panel Well Shanga1, the takeover panel have made their decision yesterday, in favour of Renova.It seems that all four new directors have been allowed to stand for election. As three of them are not directly linked to the Renova gang, the panel has adjudicated that this is not an attempt to seize control."As a result, the Executive has concluded that the resolutions proposed by Renova, M&G and Sothic are not board control-seeking".As the group hold over 35% of the company shares and have already said that they will vote against the reappointment of PH and all three non execs, that is a truly baffling statement. It confirms my belief that the UK regulatory bodies are a complete joke.Renova, Sothic and M&G will therefore vote to remove 4 of the current 6 board members, and replace them with 4 directors of their choosing. I wonder whose interests these new directors will support? Those of the small investors, or those who appointed them? When I went to school 4 out of 6 was a majority, and would therefore have control in any vote, but obviously the Takeover Panel use more advanced mathematics.
2partacus
15 Jun 2017
Re: Received my Proxy vote form today. Assume it was sent from your broker, if so who is your broker?
tasagil
14 Jun 2017
Received my Proxy vote form today. Just wondering how many others have received the letter and proxy form direct from POG with an SAE (1st class stamp) for quick reply?
shangha1
14 Jun 2017
Renova and Take-over Panel @HakePeter Hambro is a thoroughly decent man who is "old money". He has lost a lot of his own money in this venture and has always put the interests of the shareholders first. In the last year, Petropavlosk has turned around its fortunes so it strikes me as being opportunistic for Renova et al who are probably acting in concert (so unlawful) to replace the Board at the present time. One reason may be that Renova has gold mines which Petropavlosk has no interest in as it attempted to sell them last year to Petropavlosk. This would saddle Petropavlosk with debt it does not want as well as mines it does not need. No doubt, this is the reason why Renova will not launch a take-over bid. The take-over panel should investigate this.
Hake the Firehorse
10 Jun 2017
Re: Vote please Thanks KenjMy main worry was the company being stolen off us on the cheap. So I'll stick with the lesser of two evils.
Kenj2
10 Jun 2017
Re: Vote please Hi Hake,This is all very subjective, but here is my take on this.POG borrowed heavily with Hambro gambling that the price of gold would continue to rise. He got it wrong and has been on the back foot ever since. So as you point out, hardly a stellar performance, but I believe that he is working in the best interests of the shareholders.Renova is led by a Russian oligarch, with a bad reputation, and aided by a hedge fund (Sothic) and M&G Debt Opportunities Fund. They want to eject Peter Hambro and all 3 Non Exec Directors, replacing them with their own appointees. As there are only six directors, the four (not 3) Renova/Sothic appointees will control the board.The Renova gang control about 35% of the voting shares, and imo are trying to seize control of the company on the cheap, rather than making an offer for all of the company's shares. POG is turning a corner and its value is likely to rise sharply, especially when the POX hub is completed in late 2018.So your choice is between a Russian oligarch aided by a hedge fund and a distressed debt fund, or the founder of the company. My personal opinion is the PH is a proud man from an old banking dynasty, who would like to retire without leaving a stain on the family name. I think that he is far more likely to protect existing shareholders than Renova.Good luck whatever you choose.
Hake the Firehorse
10 Jun 2017
Re: Vote please Can someone help me on this.I'm struggling to work ut what is actually int he intrests of us shareholders.Backing Hambro's calls to vote against resolutions 6-9 is htis in our interests or not.Hambro has been a disaster on the whole for this company so i dont trust him as far as i can throw him.Or by agreeing to appoint these new directors are we Turkeys voting for Christmas?
BurntInvestor1
08 Jun 2017
Vote please And against resolutions 6, 7, 8 and 9. Please see below for voting advice to POG shareholders: If you hold your shares via a nominee or broker and would like to vote, please contact them as soon as possible and provide them with your vote instruction. The Board recommends that shareholders vote in Favour of all Resolutions except for resolutions 6, 7, 8 & 9. To access the latest news and announcements please visit [link] If you are a shareholder and require assistance regarding voting, please contact the dedicated helpline below: UK Free-phone: 0800 012 6782 London Local number: 020 7129 8015 This account has been created for ADVFN to provide voting advice to POG shareholders - it is not monitored.
