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2020-06-25

Polymetal: Completion of sale of North Kaluga

Polymetal International plc (POLY)
Polymetal: Completion of sale of North Kaluga

25-Jun-2020 / 09:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


Release time

IMMEDIATE                        LSE, MOEX, AIX: POLY / ADR: AUCOY

Date

25 June 2020

 

 

Polymetal International plc

Completion of sale of North Kaluga

Polymetal completed the previously announced sale of North Kaluga to North Kaluga Mining Limited ("Transaction") for the total consideration of US$ 35.7 million.

Following satisfaction of all outstanding conditions to closing and requisite regulatory approvals, the Transaction was completed on 23 June 2020.

The total Transaction value amounts to US$ 35.7 million and comprises US$ 10.7 million in cash (which has already been paid), royalties with a fair value of US$ 19.1 million[1] and repayment of all debt owed by the North Kaluga's license holder to Polymetal in the amount of US$ 5.9 million payable by 31 August 2020.

About Polymetal

Polymetal International plc (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-10 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.

Enquiries

Media

 

Investor Relations

FTI Consulting

Leonid Fink

Viktor Pomichal

+44 20 3727 1000

Polymetal

Evgeny Monakhov

Timofey Kulakov

Kirill Kuznetsov

ir@polymetalinternational.com

+44 20 7887 1475 (UK)

 

+7 812 334 3666 (Russia)

Joint Corporate Brokers

 

Morgan Stanley & Co. International plc

Andrew Foster

Richard Brown


Panmure Gordon

James Stearns

+44 20 7425 8000

 

 

 

 

+44 20 7886 2500

RBC Europe Limited

Marcus Jackson

Jamil Miah

+44 20 7653 4000

Forward-looking statements

This release may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "targets", "believes", "expects", "aims", "intend...

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