Petropavlovsk PLC Potential Shareholder Requisition (4298N)
May 09 2018 - 2:01AM
UK Regulatory
TIDMPOG
RNS Number : 4298N
Petropavlovsk PLC
09 May 2018
9 May 2018
Petropavlovsk PLC (the "Company")
Potential Shareholder Requisition
On 8 May 2018, Petropavlovsk PLC (the "Company") received a
letter from CABS Platform Limited and Slevin Ltd, registered
shareholders of the Company, which together hold 9.11% of the
Company's issued share capital. The letter requests the proposal of
ordinary resolutions at its forthcoming Annual General Meeting (the
"Requisition") for:
-- the removal of all of the existing Directors of the Company; and
-- the appointment of Dr Pavel Maslovskiy, Sir Roderic Lyne and
Mr Robert Jenkins as Directors of the Company (each of whom have
previously been Directors of the Company).
The Board is taking advice in relation to the validity of the
Requisition and, in the meantime, recommends that shareholders do
not take any action. The Company will make a further announcement
in due course.
The Company confirms that the notice convening the AGM will be
sent to shareholders later in May 2018 and the AGM is scheduled to
be held in London by the end of June 2018.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
About Petropavlovsk
Petropavlovsk is one of Russia's leading gold mining companies.
As at 31 March 2018, the Company had
produced approximately 6.9Moz of gold.
At this time, 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 3,400km(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 March 2018). 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 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 information is provided by RNS
The company news service from the London Stock Exchange
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