Petropavlovsk PLC Directors' Shareholding (8006A)
March 28 2017 - 11:34AM
UK Regulatory
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
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