PJSC Polyus (LSE, MOEX: PLZL) ("Polyus", or the "Company") has been informed that Said Kerimov has donated 100% stake in IJSC "Wandle Holdings Limited" to "Fund for support of Islamic foundations" (hereinafter, "the Fund"), which was established by the Council of Muftis of Russia, the Muslim Spiritual Board of the European part of Russia and Mufti sheikh Rawil Gaynetdin. The Fund was established in 2012.
As a result of the transfer, Mr. Said Kerimov no longer executes any economic interest or ownership rights in respect to the Company, whether directly or indirectly.
The Fund now indirectly owns 46.35% of the Company via IJSC "Wandle Holdings Limited". Following the recently announced transaction, Mr. Akhmet Palankoyev owns 29.99% of the Company’s share capital. The Company’s top management team jointly owns 0.94% of Polyus shares, with treasury shares representing 0.47% of share capital. The remaining 22.25% continues to trade as a free float in form of local shares on Moscow Exchange and in form of depositary receipts on London Stock Exchange.
As Polyus announced previously, the Company confirms its intention to form its Board of Directors majorly comprised by Independent Directors.
Mufti sheikh Rawil Gaynetdin, Head of the Fund for support of Islamic foundations, commented:
"We welcome this act of philanthropy of Mr. Said Kerimov in these challenging times and hope this will inspire other people and corporations to help those in need. As a non-for-profit foundation, we fully trust the current management team to take the Company forward and do not plan to be involved in the day-to-day running of the business"
Polyus is the world’s fourth-largest gold mining company by production volumes and the largest gold miner in terms of attributable gold ore reserves. The Company has the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
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This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus group. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus’ and/or Polyus group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus group’s ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.