Petropavlovsk PLC Shareholder Requisition of a General Meeting (6493S)

TIDMPOG

RNS Number : 6493S

Petropavlovsk PLC

10 July 2020

10 July 2020

Petropavlovsk PLC ("Petropavlovsk" or the "Company")

Shareholder Requisition of a General Meeting

Shortly after the conclusion of yesterday's Court Hearing, the Company received a requisition from Everest Alliance Limited ("Everest"), the registered holder of c.5% of Petropavlovsk PLC ordinary shares (the "Requsition).

The Requistion requests that ordinary resolutions be proposed at a General Meeting (the "GM") for:

   --    The appointment of two new directors Mr Paul Adrian Bushell and Mr Ivan Kulakov; 

-- The appointment of Mr James W. Cameron Jr, Ms Charlotte Phillipps, Mrs Katia Ray and Mr Maxim Kharin as Directors (current Directors of the Company) in the event that they have been removed as Directors prior to the Date of the General Meeting;

-- The removal of Mr Peter Hambro, Dr Alya Samokhvalova, Mr Johnny Martin Smith, Mr Martin Smith and Ms Angelica Phillips as Directors of the Company (the 'Temporary Directors'); and

-- To remove any Director that may have been appointed since 9 July 2020 until the conclusion of the General Meeting requisitioned by Everest.

As detailed in the Company's announcement dated 6 July 2020, the Temporary Directors will step down from the Board at the conclusion of the General Meeting requisitioned on behalf of Prosperity Capital Management.

The Company confirms that a notice convening the GM will be sent to shareholders in due course.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

About Petropavlovsk

Petropavlovsk PLC (LSE: POG. MOEX: POGR) is a major integrated Russian gold producer with JORC Resources of 21.03Moz Au which include Reserves of 8.46Moz Au. Following its IPO on the Alternative Investment Market (AIM) in 2002, Petropavlovsk was promoted to the London Stock Exchange in 2009, where today it is a Premium Listed company and a constituent of the FTSE 250, FTSE 350 and FTSE All Share indices.

The Company's key operating mines (Pioneer, Malomir and Albyn) are in the Amur Region in the Russian Far East. Petropavlovsk has produced a total of c.7.8Moz of gold since operations began in 1994 and has a strong track record of mine development, expansion and asset optimisation.

The Group recently entered a new era of growth following the successful commissioning and start-up of its flagship asset, the Pressure Oxidation (POX) Hub at Pokrovskiy, which enables the processing of the Company's abundant refractory reserves and resources.

Petropavlovsk is one of the region's largest employers and one of the largest contributors to the sustainable development of the local economy.

For more information

Please visit www.petropavlovsk.net or contact:

 
 Petropavlovsk PLC                               [phone] 
  Patrick Pittaway / Max Zaltsman / Viktoriya     [e-mail] 
  Kim 
 Peel Hunt LLP 
  Ross Allister / David McKeown / Alexander 
  Allen                                          [phone] 
 Canaccord Genuity Limited 
  Henry Fitzgerald-O'Connor / James Asensio      [phone] 
 Buchanan                                        [phone] 
  Bobby Morse / Kelsey Traynor / Ariadna          [e-mail] 
  Peretz 
 

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July 10, 2020 02:00 ET (06:00 GMT)