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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Petropavlovsk Plc | LSE:POG | London | Ordinary Share | GB0031544546 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.20 | 1.20 | 1.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPOG
RNS Number : 8006A
Petropavlovsk PLC
28 March 2017
28 March 2017
Petropavlovsk PLC
Directors' Shareholding
Petropavlovsk PLC (the "Company" and, together with its subsidiaries, the "Group") announces that it has been notified today by Mr. Peter Hambro, Chairman, and Dr. Pavel Maslovskiy, CEO, of the information set out below.
As announced on 2 February 2015 and 18 March 2015, Messrs Hambro and Maslovskiy entered into the Recapitalisation Agreement made between them, the Company and certain of the holders of the 2015 convertible Bonds under the terms of which they agreed to underwrite the issue of 395,491,398 ordinary shares of GBP0.01 in the Company ("the Shares") for US$30 million. In order to enable them to fulfil this obligation Vailaski Holdings Limited ("Vailaski"), an unrelated entity, subscribed for the Shares and entered into an Option Agreement with Messrs. Hambro, Maslovskiy and their Russian business partner Mr. Andrei Vdovin covering put and call and voting rights in respect of the Shares (the "HMV Option") until 31 March 2017. On the 24 March 2017, the term of the HMV Option was extended until 30 June 2017 and may be extended further thereafter.
The table below shows the voting rights over Petropavlovsk shares of Mr. Hambro and his associated entities and Dr. Maslovskiy and his associated entities. They remain unchanged to the numbers previously disclosed.
Voting rights % interest in voting rights ---------------------- -------------- -------------------- Mr. Peter Hambro and associated entities 152,280,861* 4.64 ---------------------- -------------- -------------------- Dr. Pavel Maslovskiy and associated entities 190,774,346* 5.81 ---------------------- -------------- --------------------
* The shares detailed in the above table include the voting rights over 131,830,466 Ordinary Shares over which Mr. Hambro and Dr. Maslovskiy each have put, call and voting rights pursuant to the HMV Option as announced on 18 March 2015.
About Petropavlovsk
Petropavlovsk is one of Russia's leading gold mining companies. As at 31 December 2016, the Company had produced approximately 6.4Moz of gold.
Petropavlovsk is in the construction phase of a state of the art pressure oxidation facility to process the Company's substantial refractory resource base. The Company's combined 3,600km(2) license holding has untapped resource potential. The Company is a leading employer and contributor to the development of the local economy in the Amur region, Russian Far East, where it has operated since 1994.
Petropavlovsk is a shareholder (31.1%) of IRC Limited and is the guarantor of the US$340 million project finance facility (US$234 million principal outstanding, as at 31 December 2016). IRC is a vertically integrated iron ore producer and developer in the Russian Far East and North Eastern China. IRC is listed on the Hong Kong Stock Exchange (Ticker: 1029.HK).
Petropavlovsk is listed on the Main Market of the London Stock Exchange (Ticker POG:LN)
Enquiries
For more information, please visit www.petropavlovsk.net and www.ircgroup.com.hk or contact:
Petropavlovsk PLC Maitland Alexandra Carse Neil Bennett Grace Hanratty James Isola +44 (0) 20 7201 8900 +44 (0) 20 7379 5151 TeamIR@petropavlovsk.net Petropavlovsk-Maitland@maitland.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHJPMATMBJTBTR
(END) Dow Jones Newswires
March 28, 2017 11:34 ET (15:34 GMT)
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