Investment company offers Solidcore shareholders buyout at 235.4 rubles per share

MOSCOW. Aug 30 (Interfax) - The Piter Trust investment company is offering the shareholders of the Solidcore gold miner, formerly Polymetal, whose shares are listed in the National Settlement Depository (NSD) or other Russian depositories, to buy out their securities, the investment company said.

A shareholder may submit an application through the infrastructure of the Moscow Exchange , the investment company said. The buyout price is 235.4 rubles per share, which is the closing price as of Tuesday, August 27. The deadline for sending offers is September 27.

The Moscow Exchange lowered Solidcore shares from the first tier to the third tier in February, transferring them to the so-called "non-quoted" part of the list of securities, Piter Trust said. Consequently, certain categories of investors cannot make transactions with the shares, which has reduced the liquidity.

Solidcore in June reported that it had applied to the Moscow Exchange for delisting, requesting to set the last trading day for September 30.

Solidcore itself is buying back its shares in exchange for securities issued on the Astana International Exchange (AIX). The latest data indicate that the company has bought back 12.36% of the shares out of approximately 22% blocked because of sanctions against the NSD and other Russian depositories in several exchange tranches. The exchange offer is valid until September 30.

Following the sale of the Russian business, Solidcore remains the second largest gold producer in Kazakhstan. The largest shareholder is a consortium of Omani investors led by the Mercury Investments International fund, owned by the government of Oman, which owns 29.7%.