Polyus Gold International Limited
Update on Intention to Apply for a Premium Listing
Further to its announcement of 30 April 2012, Polyus Gold International Limited (LSE - PLGL, OTC (US) - PLZLY, PGIL or the "Company"), the largest gold producer in Russia, today announces the timetable for its intended application for Admission of the entire ordinary share capital of the Company (including those underlying the Company's existing Level 1 Global Depository Receipts ("GDRs")) (the "Shares") to the premium listing segment of the Official List maintained by the U.K. Listing Authority (the "UKLA") and to trading on the main market of the London Stock Exchange ("Admission"). In connection with the Admission of the Shares, the Company expects to cancel the listing of the GDRs and amend the GDR programme (the "Level 1 GDR Programme") to limit the number of Shares that may be held in the Level 1 GDR Programme to 4.99% of PGIL's issued share capital.
Admission is expected to occur on or around 19 June 2012. The move to the premium listing segment is expected, amongst other things, to raise PGIL's global profile, further improve access to capital, enhance corporate governance standards and improve trading liquidity. The expected dates for publication of the prospectus and Admission set out herein are indicative only and subject to change. In particular, there can be no assurance that Admission will occur, and Admission remains subject to UKLA approval.
The Company also announces that a General Meeting has been convened for 10 a.m. on 8 June 2012 to consider, among other things, the adoption of new Articles of Association in a form suitable for a premium listed company, which, if approved, will become effective upon Admission.
German Pikhoya, Chief Executive Officer of Polyus Gold, commented:
"The intended move to the premium list is an important strategic step in our continued development. As already the largest gold producer in Russia and one of the top ten globally, Polyus Gold aspires to become one of the world's leading gold mining companies. This ambitious plan is underpinned by the world's third largest reserves position, and a premium listing in London will, amongst other things, further enable us to access the international capital markets to support these expansion plans."
Enquiries:
Investor contact
Mikhail Seleznev, Director Investor Relations and Capital Markets
+44 (0) 208 528 14 50 ir@polyusgold.com
Media contact
Sergey Lavrinenko, Director Communications
+44 (0) 203 585 35 37 lavrinenkosn@polyusgold.com