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POLY Polymetal International Plc

215.00
0.00 (0.0%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Polymetal International Plc LSE:POLY London Ordinary Share JE00B6T5S470 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 215.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 215.00 GBX

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Date Time Title Posts
09/12/202310:40Polymetal International21,148
02/9/202318:17Polymetal International PLC184
23/1/202317:13Polymetal International PLC2
23/1/202316:42Polymetak International PLC-
27/4/202215:22PLASTIC RECYCLING investments1

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Posted at 24/11/2023 10:51 by loganair
Polymetal International plc (“Polymetal221; or the “Company”;) announces its intention to conduct a new offer to exchange certain eligible shares in consideration for the issue of Exchange Shares on a one-for-one basis relevant to shareholders whose rights have been affected by sanctions on NSD (the “Second Exchange Offer” or the “Exchange Offer”). The Exchange Offer is subject to shareholder approval at the General Meeting which will be held on 8 December 2023.

The Second Exchange Offer invites Shareholders whose rights are affected by the sanctions imposed on National Settlement Depository (“NSD”) and other Russian depositories, subject to fulfilling eligibility criteria, to tender their Eligible Shares for exchange in consideration for the issue of Exchange Shares on a one-for-one basis.

Eligible Shareholders who successfully participate in the Exchange Offer will regain the enjoyment of their rights in the Company, including the ability to receive dividends.

At this time, due to restrictions imposed by securities laws, sanctions and counter-sanctions applicable to the Shares, the Board is only able to extend this offer to Eligible Shareholders, defined as shareholders who are:

a. not associated with an Unfriendly Jurisdiction as may be defined under the laws of Russia, and/or;

b. not subject to Sanctions as confirmed by the results of the Sanctions Clearance as defined in the Circular.

Polymetal will submit paperwork to cancel shares repurchased under the Second Exchange Offer. However, such a cancellation is contingent upon the relaxation of the restrictions on NSD and until such time that the restrictions are relaxed, these shares will be held in treasury by the Company and will not be available for re-issue.

The Directors consider that the Exchange Offer is in the best interests of the Company and its Shareholders as a whole. Accordingly, the Directors unanimously recommend that Shareholders vote in favour of the resolutions.


Background:

On 3 June 2022, the EU imposed sanctions on NSD, which effectively blocked the operations between Euroclear and NSD. As a result of such sanctions, prior to the First Exchange Offer, Shareholders holding approximately 22% of the Company's issued share capital were unable to take part in any corporate actions of the Company and/or receive dividends (the “Affected Shares”). This prevented the Company from being able to carry out certain corporate actions with the involvement of a significant part of its shareholder base.

On 22 September 2022, the Board announced the First Exchange Offer to exchange certain shares eligible under the terms of such offer for newly issued shares. A total of 41,614,678 Shares (or approximately 8% of the total number of voting rights in the Company) were repurchased by the Company under the First Exchange Offer which was completed on 11 October 2023. The Company now holds 41,614,678 Shares in treasury, which, according to AIFC Law, do not enjoy any voting or economic rights.

Approximately 14% of the Company's Shares were not eligible to participate in the First Exchange Offer although were Affected, and therefore continue to be impacted by the restrictions imposed even though the shareholders themselves might not be subject to an asset freeze insofar as the Company is aware. As a result, the Company continues to be prevented from carrying out certain corporate actions with the involvement of a significant part of its shareholder base.

On 7 August 2023, the Company announced the successful completion of the re-domiciliation of the Company from Jersey to the AIFC. As a result of the re-domiciliation, certain restrictions which previously prevented the First Exchange Offer from being addressed to Eligible Shareholders no longer apply.
Posted at 11/9/2023 12:47 by sign1
The arduous part is now for us to work with Nominee holders to locate investors' holdings and squeeze them out of the Nominee account. Investors then have the choice either to receive them in an account opened under their name at the AIX Registrar (after successful KYC) or to an account opened under a broker or custodian at the AIX CSD.

Following this statement above from the AIX team. I have contacted Polymetal Investor Relations. It is not really new news as this is also set out in the communication released by Polymetal below.

AIX Guidance on Share Transfers post Re-domiciliation



If you have not gone to material format before the re-domiciliation effective date then your name will not appear in the register of securities holders maintained by AIX Registrar.

Your shareholding will be hidden under the nominee holder, which is that of Hargreaves and Lansdown or AJ Bell.

AIX Registrar will create an account in AIX Registrar under the Hargreaves and Lansdown or AJ Bell name. So in essence you can vote and receive dividends but not buy or sell your holding.

But you can request your shares are transferred to a local Kazakhstan broker, they cannot deny your request.

Following the re-domiciliation effective date, you may request Hargreaves and Lansdown or AJ Bell to move your shares to a local brokerage account opened with a Participant of AIX CSD.

From Polymetal Investor Relations.

“You must contact Hargreaves and Lansdown or AJ Bell and instruct them they have to liaise with.

registrar@aix.kz

So to understand what the steps are and what is required to make these transfers happen. Chief operating officer of AIX Mr Olivier Gueris should be addressed in the correspondence”.



Mr. Gueris moved on to Kazakhstan where he initially advised the Astana International Financial Centre to set up Astana International Exchange (AIX) and become the financial hub of Central Asia and beyond.

Local brokerage accounts below (for active trading on AIX Market).

You should open a brokerage account in your name with Participant of AIX CSD.

List of brokers.



Please ask contacts from the Polymetal IR team at

redom@polymetalinternational.com

Nominee, which has a direct account with AIX Registrar, shall send re-registration instruction (upon receipt of instruction from you) to AIX Registrar via SWIFT - BIC code: ASIHKZ22REG, or by submitting a transfer form via e-mail Registrar@aix.kz.
The form will be provided to a direct client of AIX Registrar (Nominee) at request. You shall send matching instruction to your local broker (AIX CSD Participant) to accept shares at your brokerage account opened with AIX CSD Participant at AIX CSD.
Posted at 15/8/2023 15:22 by loganair
zang - now it's just being patient to see what happens next...

Will Polymetal split into Poly (R) and Poly (K) and then will Poly (K) relist on the LSE?

When it comes to debt Poly (R) holds $2.39bln while Poly (K) $0.2bln.
Posted at 10/8/2023 06:24 by 31337 c0d3r
10/08/2023 7:00am
UK Regulatory (RNS & others)


Polymetal International plc (POLY)
Polymetal: Resumption of trading on AIX
10-Aug-2023 / 09:00 MSK
=----------------------------------------------------------------------------------------------------------------------
Release time IMMEDIATE LSE, MOEX, AIX: POLY
ADR: AUCOY
Date 10 August 2023
Polymetal International plc Resumption of trading on AIX

Polymetal International plc (the "Company") confirms trading resumption of the Company's Ordinary shares on AIX, effective today, 10 August 2023.

Further to the Re-domiciliation completion, trading in the shares of Polymetal International plc (ISIN JE00B6T5S470) has resumed on AIX today, 10 August 2023, as follows:

-- Opening Auction - 11:00

-- Continuous Trading - 11:30

-- Closing Auction - 16:45

References to times in this announcement are GMT+6 (Astana time).
Posted at 09/8/2023 13:36 by 31337 c0d3r
09/08/2023 7:00am
UK Regulatory (RNS & others)


Polymetal International plc (POLY)
Polymetal: Q2 2023 production results
09-Aug-2023 / 09:00 MSK
=----------------------------------------------------------------------------------------------------------------------
Release time IMMEDIATE LSE, MOEX, AIX: POLY
ADR: AUCOY
Date 9 August 2023
Polymetal International plc Q2 2023 production results

Polymetal International plc reports production results for the second quarter ended June 30, 2023.

"Q2 saw a set of solid production results supporting our full-year production guidance of 1.7 Moz of GE. The company continued to experience logistical disruptions of concentrate shipments. Management is working on establishing new transportation routes to resolve this issue by Q4 2023", said Vitaly Nesis, Group CEO of Polymetal International plc.

HIGHLIGHTS

-- No fatal accidents occurred among the Group's workforce and contractors in H1 2023 (consistent with H12022). Lost time injury frequency rate (LTIFR) among the Group's employees stood at 0.11 (0.08 in H1 2022), asthere were seven lost-time accidents mostly related to falling or being hit by an object, with none of them withinKazakhstan operations.

-- Q2 gold equivalent production ("GE") grew by 22% year-on-year (y-o-y) to 423 Koz driven by increaseswithin Russian operations (Nezhda and Albazino).

-- GE output for H1 was up by 3% y-o-y to 764 Koz, including 213 Koz in Kazakhstan and 551 Koz in Russia,due to the same factors as above. Polymetal reiterates its full-year production guidance of 1.7 Moz of GE (1.2 Mozin Russia and 500 Koz in Kazakhstan).

-- The Company recorded a sales-production gap in Q2, notably for Kyzyl, which was a result of thepersistent railway issues at the eastward direction. It is expected to be closed by the year end as the Company isgradually switching to alternative transportation routes.

-- Revenue for the reporting quarter and six months increased by 34% and 25% y-o-y to USUSD 581 and USUSD 1,315million respectively on the back of sales volumes recovery in Russia and higher metal prices.

-- Net Debt reached USUSD 2.59 billion (USUSD 0.2 billion in Kazakhstan and USUSD2.39 billion in Russia) on theback of sanctions-related sales disruptions in the Russian business.
Posted at 29/6/2023 00:48 by garycook
Interactive Investor sells my Son,s POLY, after instructing them to put the shares in Certificated form. Sent this secure message 4 weeks ago, and yesterday ii sells POLY.
Polymetal Certificated Withdrawal.
Reply
Corporate actions, dividends and IPOs
31 May 2023
Dear Sir/Madam I wish to withdraw my 250 Polymetal International plc shares into certificated form prior to your withdrawal deadline. Regards Matthew Cook

RE: Polymetal Certificated Withdrawal.
Reply
Corporate actions, dividends and IPOs
Today 08:28
Dear Mr Khan, Why have ii sold my POLY holding. When I clearly authorised a Certicated withdrawal of my 250 POLY shares.If this is not corrected I will instruct the Financial Ombusman.Regards Matthew Cook
Posted at 30/5/2023 19:25 by geckotheglorious
Hargreaves Lansdown on Delisting


We’ve recently sent you some information about the potential delisting of Polymetal International from the London Stock Exchange. This was sent to you by post or secure message, depending on your preference. Please find below a copy of the information that has been sent to you.

Shareholders have approved the plans to relocate Polymetal International from Jersey to Kazakhstan. This is expected to complete on 17 July 2023.

This means Polymetal shares will be delisted from the London Stock Exchange (LSE) and its main listing changed to the Astana International Exchange (AIX) in Kazakhstan. We are unable to trade shares on the AIX so you won’t be able to sell shares via HL after this point.

You have 3 options to consider.

Option 1 – Sell your shares before 4.30pm on Wednesday 12 July

You can sell your shares on the LSE before the delisting. You can do this online or over the phone before 4:30pm on Wednesday 12 July 2023. The sale will be subject to our standard commission and we’ll only be able to complete a sale if a market for the shares still exists as per our Terms & Conditions.

Option 2 – Transfer to an alternative provider

You can transfer your shares to an alternative provider that is able to trade on the AIX.

Polymetal has given some guidance on this in their FAQ which is available here. This includes the following information:

“There is a list of brokers on AIX website. We encourage Shareholders to do their own research to choose a broker with regards to their individual needs and circumstances.

“The Company is familiar with Freedom Finance and Halyk Finance as platforms for retail investors. The Company is also aware that Wood & Co is offering custody and brokerage services to institutional and retail investors on AIX and only allows Shareholders to retain or sell their interests.”

Should you wish to transfer to an alternative provider please follow the steps below:

Ensure you have an account open with a provider who is able to receive the shares
Contact the other provider, tell them you’d like to transfer the shares and complete any of their forms
The other provider will then contact us and do the rest
We’ll need the other provider to contact us to arrange the transfer before Wednesday 28 June 2023. If we receive an instruction after that point, it’s unlikely we’ll be able to complete the transfer before the delisting.

When opening an account with another provider please consider the following:

Any holding in a SIPP can only be transferred out into another SIPP account.
A holding in an ISA can be either transferred into another ISA account or to a non-ISA account. To transfer out to a non-ISA account you’ll have to agree to losing the ISA tax shelter on the shares.
Any holding in a joint account can only be transferred out into a joint account in the same names.


Option 3 – Take no action and retain the shares with HL

If you do nothing, you’ll continue to hold the shares in your HL portfolio after the LSE delisting. HL will hold the shares for you on the Kazakhstan Register. You’ll be unable to trade the shares unless the company relists on an exchange we can trade on. A future transfer to a broker that can trade on AIX may not be possible. You’ll continue to receive any dividends that are paid in the future and be able to vote on the shares.

Nothing here is a recommendation. We’ve included some frequently asked questions below. If you have any questions, please contact us so we can help. Please note, we can provide factual assistance but cannot provide advice about which option you should choose.

Frequently Asked Questions

Why is the company proposing to relocate from Jersey to Kazakhstan?

As a result of the Russia-Ukraine conflict, Russia has imposed sanctions against companies operating in certain areas, including Jersey. This has caused difficulty for the company’s Russian operations, so they are looking to move to an area where they can avoid as many of these sanctions as possible.

Why does this mean the shares will be delisted from the LSE?

As a result of the relocation to Kazakhstan, the company will no longer meet the criteria to be listed on the LSE.

Can I withdraw my holding into a share certificate?

We do not offer a certificated withdrawal service so are unable to send you a certificate for your shares. With a certificate you’d still need to open an account with a provider able to trade the shares on the AIX, so the option to transfer to an alternative provider provides a quicker route to do this.

Can I buy more Polymetal shares?

Due to the potential delisting, we are no longer accepting any further buy orders for Polymetal shares.

Does the delisting affect my ability to hold Polymetal shares in an ISA or SIPP?

The AIX is recognised by HMRC as a qualifying ISA market, so the shares will still remain eligible to be held in an ISA after the LSE delisting. The shares will also remain eligible to remain within a SIPP.

Where can I obtain further information?

Full information is available on the Polymetal website. You may also be interested in the FAQ produced by Polymetal, which is available here.
Posted at 25/5/2023 00:29 by garycook
Dear Shareholders of Polymetal



we would like to provide you with some preliminary information on the onboarding process that will take place in the coming days. We continue to ask for your patience as we analyze the needs of the diverse shareholder base and try to find a solution for the majority of cases (admittedly, given the timeframe, there may be situations that are outside the scope of the service we can offer - we will endeavor to identify such situations and communicate accordingly as soon as possible).



As you are aware, there are specific circumstances surrounding this project and the adaptation of our standard onboarding package to reflect the complexities of current regulatory & sanctions requirements is underway. We are confident that we will be able to begin distributing the specific onboarding packages to the first set of stockholders this week. We thank you for your patience in the meantime; you will appreciate that the core of our offer is to allow onboarded Polymetal shareholders to:

Open a custody account linked to AIX CSD in Kazakhstan,
transfer your existing position in Polymetal ordinary shares into this account (in cooperation with your current custodian/broker),
place a sell order on AIX CSD (should you wish to reduce the position),
participate in the proposed redomiciliation corporate action in respect of the position held in the custody account on the record date.


In particular, the onboarding package will include:



i) A bespoke Polymetal-related contract - we daresay that the contract will be based on a fairly standard EU brokerage agreement with a simple custody addendum.

ii) KYC form - it will speed up your on-boarding considerably if you begin to collect documentation for the following key areas that will be covered during the KYC process:

Your legal/personal details (name, address, IDs)
Contact details
Ultimate beneficial owners and ownership structure
Legal entity and authorized persons
Tax domicile
Bank accounts
Source of income
(detailed explanation will be included in the KYC form; some of the questions will only apply if you are a legal entity, but please be prepared to provide supporting documentation such as copies of IDs and/or statutory documents from commercial or court registers, possibly certified if you are located outside the EU).

Could you please let us know if you hold the shares as a physical person or as a legal entity – so we know which of the KYC form to send you, once ready?



iii) Guidance to your broker/custodian on the settlement route that the initial transfer of shares must take - both WOOD & Co and your current broker/custodian will need to exchange certain technical information (called SDI or 'standard delivery instructions') about the way in which the shares are currently held for you, so that we can successfully process the subsequent transfer of shares into our custody (an 'NCBO' = no-change-of-beneficial-owner transfer). It would be helpful if you could provide us with a copy of your most recent statement of holdings from your provider. We may also need to contact your provider directly. Would you please be so kind and let us know your current holding in Polymetal?



You will note that WOOD & Company is an EU-based broker (domiciled in the Czech Republic and regulated by the Czech National Bank), which has some notable implications for the expectations of the service we are currently authorized to provide (situation as of 23 May 2023).
Please be informed that:



a. for onboarded clients, WOOD & Co will be able to provide custody services for holding positions in ordinary shares of Polymetal International (ISIN: JE00B6T5S470) and clients will also be able to place a sell order in this instrument with AIX. However, the current sanctions regime does not allow EU brokers to intermediate additional purchases.

b. Upon completion of the necessary KYC/AML onboarding procedures, both professional and non-professional investors will be able to hold shares in their account with WOOD & Co in accordance with EU regulations, provided that their current custodian/broker is able to deliver Polymetal International ordinary shares (ISIN: JE00B6T5S470) to the international central securities depository level operated by Euroclear (this is the institution where the AIX CSD holds its international shares registered for trading with AIX in Kazakhstan; as explained in section iii. above, we are preparing settlement guidance for your custodian/broker on how to match our receipt counter-instruction there). Other forms of holding an interest in Polymetal International, such as depository receipts (ADRs, GDRs) or share swaps through a third party broker, will require prior conversion into ordinary shares by your custodian/broker before WOOD & Co can match their delivery instruction in Euroclear.

c. Please note that WOOD & Co is not in a position to provide services that are not covered by our EU licenses, particularly where additional authorization would be required in the US or UK - namely we are not familiar with Self-Invested Pension Plan (SIPP) schemes in the UK, nor 'Roth IRAs' for US individuals (and we have no aspirations to enter these businesses). However, we can still receive and hold Ordinary Shares for onboarded clients as explained in a. and b. above and in sections 1-4.





Best regards



Kateřina Stejskalov√°
Client Service Specialist | Wealth Management
E: katerina.stejskalova@wood.cz



WOOD & Company
Palladium, n√°m. Republiky 1079/1a | 110 00 Prague 1, Czech Republic | wood.cz
Posted at 22/5/2023 13:50 by stevensupertrader
Polymetal management will give an update the U.S. sanctions on Russia Operation in 2 weeks time , however the vote to redom Poly From Jersey to Kazadistan still go ahead on 30 May . Poly share price is tanking today and UK might follows US sanctions to blockthe splitting of Poly operation - time to abandon ship before it too late and sink and bring everyone down . The balance of Risk and Reward is tilted HEAVILY TO THE RISK SIDE
Posted at 22/5/2023 07:04 by stevensupertrader
Poly share price now in free fall mode
Polymetal share price data is direct from the London Stock Exchange

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