Consolidation of ownership in the assets

RNS Number : 0132X

Polymetal International PLC

08 February 2012

 



For immediate release

08 February 2012

POLYMETAL INTERNATIONAL PLC

CONSOLIDATION OF OWNERSHIP IN THE ASSETS OF
ANGLOGOLD ASHANTI - POLYMETAL STRATEGIC ALLIANCE

Polymetal International Plc (LSE: POLY) (together with its subsidiaries - "Polymetal") announces that it has completed the acquisition from AngloGold Ashanti Holdings PLC ("AngloGold") of AngloGold's 50% interest in various companies (the "Companies") held in joint venture with Polymetal comprising the AngloGold Ashanti - Polymetal Strategic Alliance (the "Alliance"). The Companies include Amikan Holding Limited, which owns the Veduga gold deposit in the Krasnoyarsk region of the Russian Federation. The consideration for the acquisition, including the benefit of all shareholder loans made by AngloGold to the Companies, was US$20 million in cash.

As a result of this transaction all of the shares in the Companies are now owned by Polymetal, and the Alliance has terminated.

"We are satisfied with consolidation of ownership of Veduga," said Vitaly Nesis, CEO of Polymetal.

"We believe this is the first step towards acceleration of development of this highly promising asset."

ENQUIRIES

Media		Investor Relations
College Hill Leonid Fink Tony Friend	+44.207.457.2020	Polymetal Pavel Danilin	+7.812.313.5964
Joint Corporate Brokers
Morgan Stanley Alastair Cochran Sandip Patodia	+44.207.425.8000	Collins Stewart John Prior Roger Lambert	+44.207.523.8000

FORWARD-LOOKING STATEMENTS

THIS RELEASE may INCLUDE STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, "FORWARD-LOOKING STATEMENTS".  THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS RELEASE.  THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS "TARGETS", "BELIEVES", "EXPECTS", "AIMS", "INTENDS", "WILL", "MAY", "ANTICIPATES", "WOULD", "COULD" OR "SHOULD" OR SIMILAR EXPRESSIONS OR, IN EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY DISCUSSION OF STRATEGIES, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS.  THESE FORWARD-LOOKING STATEMENTS ALL INCLUDE MATTERS THAT ARE NOT HISTORICAL FACTS.  BY THEIR NATURE, SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER IMPORTANT FACTORS BEYOND THE COMPANY'S CONTROL THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS.  SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS REGARDING THE COMPANY'S PRESENT AND FUTURE BUSINESS STRATEGIES AND THE ENVIRONMENT IN WHICH THE COMPANY WILL OPERATE IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE.  THERE ARE MANY FACTORS THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS. THE COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ANY CHANGE IN THE COMPANY'S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS ARE BASED

 

END

 

 

ACQFMGGZVRVGZZG