Polymetal shares drop 27.3% on news that company has applied to delist from Moscow Exchange

MOSCOW. June 25 (Interfax) - Shares of Polymetal have dropped 27.3% to 182.8 rubles per share at the opening of trading on Tuesday on news that the company has applied for delisting from the Moscow Exchange .

Solidcore Resources, formerly Polymetal, has applied to delist its shares from the Moscow Exchange.

The gold and silver mining company said that it has requested to set the last day of trading on September 30, though the final date could differ depending on the exchange's announcement.

The Solidcore board of directors has reached the decision to delist in connection with the recent U.S. sanctions imposed against the Moscow Exchange.

Solidcore shareholders that meet certain criteria have the right to exchange their shares on the Moscow Exchange for securities traded on the Astana International Exchange (AIX) of the Astana International Financial Centre (AIFC).