Petropavlovsk PLC Appointment of CEO and Non-Executive Director (2813E)
February 08 2018 - 2:02AM
UK Regulatory
TIDMPOG
RNS Number : 2813E
Petropavlovsk PLC
08 February 2018
8 February 2018
Petropavlovsk PLC
Appointment of Chief Executive Officer and Non-Executive
Director
Petropavlovsk PLC announces the appointment of Roman Deniskin as
Chief Executive Officer and Director of Petropavlovsk PLC,
effective from 16 April 2018. At this time, the current Interim
CEO, Sergey Ermolenko, will step down from the Board and return to
his previous role as General Director of Management Company
Petropavlovsk.
Mr Deniskin has extensive experience at strategic and senior
operating levels within mining and industrial companies. Whilst his
focus in mining was on iron ore, coal and gold in Russia and CIS,
it also included successful gold sector expansion in Africa. During
his diverse career, Roman spent significant time working at global
management consulting firms McKinsey & Company and Boston
Consulting Group, focused primarily on metals and mining. In his
most recent role, he served as Deputy Chairman of Eurasian
Resources Group, a leading diversified mining and smelting group
based in Kazakhstan. Prior to this, Mr Deniskin held senior
positions at Rostec, MMK and Severstal Resources. He is a Russian
national with degrees in mechanics and economics.
Petropavlovsk PLC also announces the appointment of Bektas
Mukazhanov, as a Non-Independent Non-Executive Director with
immediate effect. Mr Mukazhanov brings a wealth of knowledge from
his professional experience at a senior level in the financial and
information technology industries. He is a Director of and
Investment Advisor at Fincraft Holdings Ltd, the major shareholder
of Petropavlovsk. Mr Mukazhanov holds degrees in computer science
and information technology and is a CFA charterholder.
Commenting on the announcement, Petropavlovsk Chairman, Ian
Ashby said:
"I am pleased to welcome Roman to Petropavlovsk. His appointment
follows a comprehensive external search and has the full support of
our major shareholders (Fincraft Holdings, Sothic Capital, the D.
E. Shaw group and M&G Investments). Roman brings all the
necessary experience and leadership attributes required as we enter
a new phase in the Company's history with the completion of our POX
development and the start-up of our underground mining operations.
I would also like to thank Sergey for his astute guidance over the
last seven months as Interim CEO and to extend a warm welcome to
Bektas, whose breadth and depth of first-hand experience will be a
valuable addition to the Board."
Enquiries
For more information, please visit www.petropavlovsk.net and
www.ircgroup.com.hk or contact:
Petropavlovsk PLC Buchanan
Alya Samokhvalova Bobby Morse
Grace Hanratty Anna Michniewicz
+44 (0) 20 7201 8900 +44 (0) 207 466 5000
TeamIR@petropavlovsk.net POG@buchanan.uk.com
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Cautionary note on forward-looking statements
This release may include statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "estimates", "plans",
"projects", "anticipates", "expects", "intends", "may", "will" or
"should" or, in each case, their negative or other variations or
comparable terminology, or by discussions of strategy, plans,
objectives, goals, future events or intentions. These forward-
looking statements include all matters that are not historical
facts. They appear in a number of places throughout this release
and include, but are not limited to, statements regarding the
Group's intentions, beliefs or current expectations concerning,
among other things, the future price of gold, the Group's results
of operations, financial position, liquidity, prospects, growth,
estimation of mineral reserves and resources and strategies, and
exchange rates and the expectations of the industry.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances
[outside the control of the Group. Forward-looking statements are
not guarantees of future performance and the development of the
markets and the industry in which the Group operates may differ
materially from those described in, or suggested by, any forward-
looking statements contained in this release. In addition, even if
the development of the markets and the industry in which the Group
operates are consistent with the forward looking statements
contained in this release, those developments may not be indicative
of developments in subsequent periods. A number of factors could
cause results and/or developments to differ materially from those
expressed or implied by the forward-looking statements including,
without limitation, general economic and business conditions,
demand, supply and prices for gold and other long-term commodity
price assumptions (and their effect on the timing and feasibility
of future projects and developments), trends in the gold mining
industry and conditions of the international gold markets,
competition, actions and activities of governmental authorities
(including changes in laws, regulations or taxation), currency
fluctuations (including as between the US Dollar and Rouble), the
Group's ability to recover its reserves or develop new reserves,
changes in its business strategy, any litigation, and political and
economic uncertainty. Except as required by applicable law, rule or
regulation (including the Listing and Disclosure Guidance and
Transparency Rules), the Group does not undertake any obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Past performance cannot be relied on as a guide to future
performance.
The content of websites referred to in this announcement does
not form part of this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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