Polymetal issued 1.07% of replacement shares as part of their exchange – Kommersant

Polymetal completed the first tranche of the exchange of shares blocked in the National Settlement Depository (NSD) due to sanctions. The shares were exchanged for new ones and traded on the Astana International Exchange (AIX) in Kazakhstan, the statement said. press release.

5.08 million ordinary shares were exchanged (1.07% of all outstanding securities). The exchange was carried out at a ratio of one share to one. Polymetal’s voting shares remain unchanged at 473.64 million. The company also owns almost 46.7 million treasury shares without voting or economic rights. Polymetal intends to cancel them when restrictions on NSD are relaxed.

In May 2023, the US Treasury included the Russian structure Polymetal on the sanctions list. In August of the same year, the company completed its delisting on the London Stock Exchange (LSE). In the same month, Polymetal completed the transfer of assets from the jurisdiction of the Island of Jersey to Kazakhstan. AIX became Polymetal’s primary listing site. At the beginning of February 2024, the European depository Clearstream unlocked shares.

February 19 Polymetal announced on concluding an agreement on the sale of its Russian business (JSC Polymetal) to Mangazeya Plus. Assets were estimated at $3.69 billion, including $2.21 billion of net debt. The deal is planned to be closed by the end of March.

Details – in the material “Kommersant” “Mangazeya extracted gold from Polymetal”.

Laura Keffer