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Polymetal International plc (POLY)


Thursday 25 June, 2020

Polymetal International plc

Polymetal: Completion of sale of North Kaluga

Polymetal International plc (POLY)
Polymetal: Completion of sale of North Kaluga

25-Jun-2020 / 09:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

Release time



25 June 2020



Polymetal International plc

Completion of sale of North Kaluga

Polymetal completed the previously announced sale of North Kaluga to North Kaluga Mining Limited ("Transaction") for the total consideration of US$ 35.7 million.

Following satisfaction of all outstanding conditions to closing and requisite regulatory approvals, the Transaction was completed on 23 June 2020.

The total Transaction value amounts to US$ 35.7 million and comprises US$ 10.7 million in cash (which has already been paid), royalties with a fair value of US$ 19.1 million[1] and repayment of all debt owed by the North Kaluga's license holder to Polymetal in the amount of US$ 5.9 million payable by 31 August 2020.

About Polymetal

Polymetal International plc (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-10 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.




Investor Relations

FTI Consulting

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Viktor Pomichal

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Evgeny Monakhov

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Kirill Kuznetsov

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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.



[1] The Company's preliminary estimate at 15% discount rate.

ISIN: JE00B6T5S470
Category Code: MSCM
Sequence No.: 71821
EQS News ID: 1078367

End of Announcement EQS News Service


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