Polymetal plans to complete re-registration on August 7 – Kommersant

Polymetal, after negotiating with regulatory authorities and receiving their approval, expects re-registration from Jersey to the Astana International Financial Center (AIX) in Kazakhstan to end on 7 August. As a result, the shares will not be traded on the London Stock Exchange (LSE) after 1 August. This was reported press office companies.

As a result of the re-registration, Polymetal shares will no longer be compatible with electronic settlement under CREST and will no longer qualify for the LSE listing. At the same time, delisting from the LSE depends on the final decision at the shareholders’ meeting. It will take place on July 28th.

For necessary transactions in connection with the delisting, the AIX exchange will suspend trading in Polymetal shares on August 1. They will be renewed on the day of re-registration or shortly thereafter. Despite the temporary suspension of trading, Polymetal confirms that it will maintain its listing on AIX. This exchange will be the site of the company’s initial listing. The Moscow Exchange will suspend trading in Polymetal shares from July 29.

The Board of Directors of Polymetal proposed to shareholders re-register company in AIX on 10 May. Redomiciliation approved 91.78% shareholders.

In the first quarter, Polymetal’s revenue grew by 19% to $733 million. This was due to the stabilization of distribution channels, as well as the reduction of inventories amid high gold prices. Net debt amounted to $ 2.428 billion – this is the level of the first quarter of 2022.

Anastasia Larina