The Board of Directors (the "Board’) of Polyus PJSC (MOEX — PLZL) ("Polyus" or the "Company") will consider, among other matters, splitting of the common stock of the Company ("Stock") on 23 December 2024.
To increase liquidity and the availability of the Company’s stock to a wider range of investors, the Company’s Board of Directors is expected to support the proposed project of Stock split and propose that the shareholders consider this matter.
If the Board supports the matter and the Extraordinary General Meeting of Shareholders subsequently adopts a resolution regarding the split, the Stock split process will be carried out within the time frame set forth by law.
Alexey Vostokov, Chief Executive Officer of PJSC Polyus, commented:"Polyus is a leading Russian gold mining company offering a high potential for further organic growth. The Company is committed to its long-term development strategy focusing on large-scale investment projects ensuring major production expansion. As we explained earlier during our recent call with the investment community, these projects will enable Polyus to double its production volume by 2030 and increase gold output to 6 mln ounces per year, which will strengthen our position among global leaders of the gold mining industry.
We have noted a growing interest for the Company’s shares from various investor groups, including retail investors that wish to be part of Polyus’ growth story. Therefore, the Company’s Board will consider proposing that the Company’s shareholders adopt a resolution to split the stock, which will ensure greater availability for retail investors and help increase their liquidity.
Polyus continues to follow best practices in the capital markets to make its shares even more attractive. The proposed stock split is an important step in this strategy, ensuring that more investors have access to the high-quality asset that combines the qualities of growth stock and years of experience in successful implementation and governance of large-scale projects in the increasingly important gold mining industry".
Polyus
Polyus is the fourth largest gold producer in the world in terms of production and has one of the world’s largest gold 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 Territory, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
Enquiries (Investors and Media)
Capital Markets Department
+7 (495) 641 33 77
IR@polyus.com
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. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the corresponding 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 difficult to predict accurately and which are beyond the control of Polyus/or Polyus group. Therefore, undue reliance should not be placed on such statements, which speak only to 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.