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POLYMETAL INTERNATIONAL PLC Polymetal: Completion of sale of North Kaluga

Directive transparence : information réglementée

25/06/2020 08:00

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

IMMEDIATE                        LSE, MOEX, AIX: POLY / ADR: AUCOY

Date

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.

Enquiries

Media

 

Investor Relations

FTI Consulting

Leonid Fink

Viktor Pomichal

+44 20 3727 1000

Polymetal

Evgeny Monakhov

Timofey Kulakov

Kirill Kuznetsov

ir@polymetalinternational.com

+44 20 7887 1475 (UK)

 

+7 812 334 3666 (Russia)

Joint Corporate Brokers

 

Morgan Stanley & Co. International plc

Andrew Foster

Richard Brown


Panmure Gordon

James Stearns

+44 20 7425 8000

 

 

 

 

+44 20 7886 2500

RBC Europe Limited

Marcus Jackson

Jamil Miah

+44 20 7653 4000

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
TIDM: POLY
Sequence No.: 71821
EQS News ID: 1078367

 
End of Announcement EQS News Service

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