On 23 December 2024 “Polyus” Board of Directors recommended that its shareholders support splitting the ordinary stock of Polyus PJSC (“Company” or “Polyus”) with the ratio of “10”.
- The Extraordinary General Meeting (“EGM”) of shareholders has been convened for 3 February 2024 to vote on the matter.
- The list of persons entitled to participate in the EGM was drawn up as of 09 January 2025.
Frequently Asked Questions about Polyus PJSC stock split process
What is a stock split?
Stock splitting (or split) is a technical process whereby the overall number of the Company’s outstanding and authorized shares is increased by means of converting each share into multiple shares in accordance with the predefined split ratio.
What is the split ratio?
The split ratio determines the degree of share splitting.
For Polyus, the split ratio is “10”, which means that after the approval of the splitting process (which was received at the EGM on February 03rd, 2025) each ordinary share of the Company will be converted into 10 ordinary shares.
Will the split process have any impact on stakes held by the current shareholders?
No. During the stock splitting procedure, no new shares are issued or offered; stakes held by the current shareholders are not diluted, so each shareholder retains the stake that he owned prior to the splitting process (i.e. the shareholders’ stakes in the Company’s authorized capital are not modified as a result of splitting its ordinary shares).
How does the stock split affect the share value and the authorized capital?
The total nominal value of 10 ordinary shares of the Company after the stock split procedure is completed will be equal to the nominal value of one Polyus ordinary share prior to the stock split. This means the size of the Company’s authorized capital will remain the same.
Why carry out the stock split for Polyus?
The main objective is to make Company’s shares more accessible for retail investors.
Currently, 1 (one) Polyus’ share has the highest market price of all the “blue chips”, traded on Moscow Exchange. The stock split will ensure that more investors have access to the high-quality asset that combines the best features of growth shares and years of experience in successful implementation and governance of major projects within the increasingly attractive gold-mining industry.
What is the time frame for completing the stock split process?
The stock split is expected to be completed within 2 months of the EGM resolution approving the split.
What are the actions required from share owners?
The process will be performed by the professional participants in the stock market (registrar, depositories), so no actions are required from shareholders.
What are the key stages of the stock split process?
- (completed) Firstly, the meeting of Polyus Board of Directors (“BoD”) is convened to adopt
resolutions on:
- putting forward the proposal for EGM to adopt a resolution on the stock split,
- convening and holding the EGM.
- (completed) BoD adopts resolutions to convene EGM and to put forward a proposal for EGM to adopt the resolution approving the stock split.
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(completed) A list of persons is drawn up which are entitled to participate in EGM.
Date as of which the list of persons is drawn up — 09 January 2025.
- (completed) EGM is held where a resolution shall be adopted approving the stock split.
- (completed) Documents are submitted to the Central Bank of Russia (CB) for the state registration of amendments to the resolution on the emission of securities (Company’s ordinary stock)
- CB performs the state registration of amendments to the resolution on the emission of securities (Company’s ordinary stock).
- In light of the stock split, the Polyus’s shares trading will be suspended from March 24 to March 26, 2025. Trading is scheduled to resume on March 27. More details on trading in Polyus’s shares in the context of the stock split are provided on the official website of the Moscow Exchange