Squeeze-out notice delivered to JSC Polymetal

RNS Number : 7378B

Polymetal International PLC

20 April 2012

 



Release time	IMMEDIATE
Date	20 April 2012

Polymetal International plc

Squeeze-out notice delivered to JSC Polymetal

Polymetal International plc (LSE: POLY) (together with its subsidiaries - the "Company") announces that the demand notice to acquire the remaining JSC "Polymetal" shares ("JSC Shares") has been delivered to JSC "Polymetal" by PMTL Holding Limited, a wholly own subsidiary of the Company.

On April 19, 2012, PMTL has delivered the demand notice to JSC "Polymetal" to acquire the remaining JSC Shares (the "Squeeze-Out Notice") in accordance with Clause 84.8 of the Russian Federal Law No. 208-FZ "On Joint Stock Companies" dated 26 December 1995.

The price in the Squeeze-Out Notice is RUB 531.15 per one JSC Share. Under the terms of the Squeeze-Out Notice, 18 June 2012 is set as the record date (the "Record Date") to prepare the list of all JSC "Polymetal" shareholders whose JSC Shares will be acquired by PMTL. Payments for JSC Shares to their holders will be made by PMTL within 25 calendar days after the Record Date. Holders of JSC Shares may deliver their applications with correct and complete payment details for such payments (the "Applications") to PMTL at the following address: prospect Narodnogo Opolcheniya 2, St. Petersburg, 198216, Russia. In order for the Applications to be validly accepted they should be received by PMTL in original execution form (no facsimile or email copies may be accepted) on or before 18 June 2012.

Payments to the holders of JSC Shares as of the Record Date whose Applications will not be received by PMTL or whose payment details under the Applications are not correct or accurate, will be deposited by PMTL with a Russian notary in accordance with the Squeeze-Out Notice and Russian law.

The full text of the Squeeze-Out Notice document and information on the Russian notary, including its address and telephone number, are available on web-site of JSC "Polymetal" at http://www.polymetal.ru.

The Company has also decided to extend the Squeeze-Out Notice to the holders of JSC "Polymetal" global depositary receipts ("GDRs") under the terms and conditions to be further circulated by Deutsche Bank Trust Company Americas, the depositary bank in respect of the GDRs.

In case the holders of GDRs would like to sell JSC Shares underlying their GDRs directly, they would need to convert their GDRs into ordinary shares of JSC "Polymetal" in accordance with applicable terms and procedures under the existing GDR programme before the Record Date.

Enquiries

Media		Investor Relations
College Hill Leonid Fink Tony Friend	[phone]	Polymetal Pavel Danilin Maxim Nazimok	[phone]
Joint Corporate Brokers
Morgan Stanley Edward Knight Sandip Patodia	[phone]	Canaccord Genuity John Prior Roger Lambert	[phone]

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

 

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