Well, looky here.
On 30-mar-2012, POL (Polo Resources) director Neil Herbert bought 2m shares at 3.30p each, which is £66k. This showed up recently as a net-net.
Polo Resources Limited (Polo) is a natural resources investment company focused on investing in undervalued companies and projects. Polo will primarily invest in companies with producing assets and/or resources and reserves. Polo focuses on building a diversified portfolio of mineral assets. The Company has investments in coal assets, iron ore assets, gold assets and petroleum assets.
As I mentioned in a previous post, think of POL more as an investment trust. It currently stands at a PTBV of 0.84. So looking at earnings is misleading. Also, looking at share price by itself is misleading. The company buys assets, and eventually sells them. This tends to feed through as a special dividend. So you have to look at it from a total return viewpoint, not just what the share price is doing.
Book value can also be distorted from what you see on historical databases, because they may well have changed based on any special dividend that might have been paid. Without checking out what’s been paid and what hasn’t, you might be led to an erroneous conclusion.
Powered by Blogilo