Consolidation of 100% in JSC Polymetal

RNS Number : 4329H

Polymetal International PLC

11 July 2012

 



Release time	IMMEDIATE
Date	11 July 2012

Polymetal International plc

Consolidation of 100% in JSC Polymetal

Polymetal International plc (LSE: POLY) (together with its subsidiaries - the "Company") announces that it, through PMTL Holding Limited ("PMTL"), a wholly owned subsidiary of the Company, has completed the squeeze-out procedure and acquired 100 per cent shares in JSC "Polymetal" becoming  its sole shareholder.

On 19 April 2012, PMTL has delivered the demand notice to JSC "Polymetal" to acquire the remaining shares in JSC "Polymetal" ("JSC Shares") in accordance with Russian law (the "Squeeze-Out"). Under the Squeeze-Out notice payments for the JSC Shares should have been made by PMTL within 25 calendar days after 18 June 2012. On 3 July 2012 PMTL made the final payments for JSC Shares to their holders and on 10 July 2012, completing the Squeeze-Out, it had become the sole shareholder of JSC "Polymetal".

Payments to holders of JSC Shares whose applications with correct and complete payment details for payments in the Squeeze-Out were not received by PMTL by 18 June 2012 have been deposited by PMTL with a Russian notary in accordance with Russian law and the Squeeze-out notice.

The full text of the Squeeze-Out notice 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.

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

 

END

 

 

MSCFFLFFLDFBBBL