http://www.kitco.com/charts/livegold.html

cheers GF.

HC - have never heard of shareholders being called this way before.

Petropavlovsk creditor open to rival rescue plan

Quick post to mention that if you hold your shares in a Nominee Account (which is the case for many Private Investors using e.g. Barclays, HSBC share dealing services etc.) then today may be your last chance to vote 'Yes' in the forthcoming Rights Issue.

There's certainly been much speculation on the various investor bulletin boards about the RI. The basic fact is that there are Two Resolutions (Resolution 1 and Resolution 2) which shareholders like us must vote on. If either fails to pass the RI will fail. Both resolutions need 75% of the vote to pass for the 'Yes' voters.

In the event that the RI fails to pass, the Company has publicly stated (read there last two RNSs) that the Administrators will likely be called in and we - as shareholders - will like loose our entire investment...


Therefore, please everybody do vote 'yes': time is running out for you to vote.

Many brokers have their own voting deadlines, which are different from the Company's deadline of the 24th Feb. Many require your vote TODAY.

Please pick up the phone and vote: we need every single vote we can get to ensure the RI passes, for obvious reasons. It only takes a few minutes. So please vote.

Good luck everybody - and many thanks if you have already voted 'Yes' (as I have) - GRB.

Resolutions passed, the entitlement of RI shares @ 5p expired on 24/2/15, so if the buyers now are not entitled doesn't that massively (over 3b shares to be issued) dilute their holding immediately?
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Admission of Nil Paid Rights
Petropavlovsk PLC (the "Company" and, together with its subsidiaries, the "Group") announces that, pursuant to the Rights Issue announced on 2 February 2015, 3,102,923,272 New Ordinary Shares of 1 pence each will be admitted to listing on the premium listing segment of the Official List of the UK Listing Authority and will be admitted, nil paid, to trading on the London Stock Exchange plc's main market for listed securities at 8.00 a.m. today.

What's the view here now?

Very long term recovery might be on the cards, imo but going to be a bottom drawer 'file & forget' stock for existing holders as can't see the sector or the POG financial position getting any better in the short term. I will probably take up the rights as it will give me a better average, but it's hope rather than expectation.

Thanks Harry - much against my own past experience with these, I've taken a SB @6.01.

Oh calamity.

It's just dilution, mitzy! Nothing to worry about.......yet.

HI,
Do you know when the deadline is for taking up the rights?

No idea yet. My broker has said do nothing until the rights become available. They will advise when.

Thank you.
One of my worst investments.
At least FTO is going to give some money!

Comment in today's Independent

I thought the last two paragraphs of the 'Independent' write-up were quite depressing.

About the Rights Offer:

If you accept the Rights Offer, the New shares are expected to be credited to
your account as soon as practicable after 8.00am on 16th March 2015, with
trading of the New shares on the LSE also commencing on that date.

Your broker will tell you when your money should be in or by when your decision
has to be made.

Options:

157 Nil Paid Rights for every 10 Petropavlovsk PLC Ordinary shares
held on the Ex-entitlement Date of 27th February 2015.

Each Nil Paid Right entitles the holder to subscribe for
1 New Petropavlovsk Ordinary share at a price of 5 pence.

Holders of Nil Paid Rights have the following options:

Option 1 - Take up their Rights.

Option 2 - Partial take up of their Rights.

Option 3 - Sell their Rights.

Option 4 - Cashless take up of their Rights.

There is no Excess Facility under the Offer.

RIGHTS ISSUE
Petropavlovsk Plc has announced a Rights Issue. Holders have been allotted 157 Rights for every 10 shares held as at 27 February 2015 and every 1 Right may be exchanged for 1 New Share at GBP0.05 per share.
If you would like to accept the offer please notify your broker in writing by secure message or letter no later than 5pm on 9 March 2015."

Deutsche Bank AG now increased their holding to 7.21%

What will happen if take up is low?
Can it fall below 5p?

I can't remember if it's underwritten or not, but if take-up is poor I believe the surplus is sold in the market for what they can get, so yes it can and probably will drop below 5p.
2517

Sapinda sold nearly all their holding, now just 0.41% held. They must have lost a packet as well.
2517

I have to admit that I got out of these some time ago...much higher skipping the fund raising....but keeping an eye on these.....