Press releases

Termination of Agreement with Fosun

PJSC Polyus (MOEX — PLZL) (“Polyus”, or the “Company”), the largest gold producer in Russia, notes the announcement made earlier today by Polyus Gold International Limited (“PGIL”) that the agreement to sell 12,561,868 of the ordinary shares in the Company to a consortium (the “Consortium”) led by Fosun International Limited (HKSE:00656) (the “Agreement”) has been terminated.

The Agreement was signed and announced on 31 May 2017 and will not be completed due to non-satisfaction of a condition precedent pursuant to the terms of the Agreement. After the condition precedent was not satisfied, the parties discussed further options but did not reach a consensus, following which PGIL proposed to terminate the Agreement. The parties agreed to terminate the Agreement, including the option for the Consortium to acquire an additional 5 per cent. of the Company’s share capital pursuant to the Agreement.

Following the termination of the Agreement, the shareholding structure has not changed and remains as set out in the table below.

Shareholding Structure

SHAREHOLDERS % of Share Capital
PGIL1 82.44
Treasury 1.22
Free float 16.34

1 — Mr. Said Kerimov indirectly controls 100% of PGIL.

The Company notes the statement from PGIL that it will continue its efforts to develop Polyus as a public company and does not expect to seek revisions of the Polyus strategy as a result of the termination of the Agreement.

About PJSC Polyus

Polyus ( is the largest gold producer in Russia and one of the top 10 gold miners globally with the lowest cost position. Based on its 2016 Ore Reserves and Mineral Resources, Polyus ranks second by attributable gold reserves and third by attributable gold resources among the world’s largest gold mining companies.

Polyus group’s principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia).

About Polyus Gold International Limited

Polyus Gold International Limited (a Jersey company) is the principal shareholder of PJSC Polyus owning 82.44% of PJSC Polyus ordinary shares.


Investor contact
Victor Drozdov, Director Investor Relations
+7 (495) 641 33 77

Media contact
Victoria Vasilyeva, Director Public Relations
+7 (495) 641 33 77

Forward looking statements

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.

Inside Information

This announcement contains inside information.