Members of Polymetal board of directors buy company shares
MOSCOW. May 7 (Interfax) - Chairman of the board of directors of Polymetal International plc Robert (Bobby) Godsell and an independent non-executive director Len Homeniuk have acquired shares in the company, which controls Russia's largest silver producer and one of its biggest gold producers OJSC Polymetal .
Polymetal said in a press release that Godsell purchased 2,000 of the company's shares, or 0.0005% of its total issued capital, at a price of 7.155 British pounds per share on May 3. In total, he shelled out 14,310 pounds for the stake.
Homeniuk bought 64,000 shares, or 0.016% of capital, on April 30 for 6.959 pounds each, totaling 445,389 pounds.
Polymetal shares are currently traded on the London Stock Exchange (LSE) at 7.335 pounds each.
The company's shares reacted to the news of these acquisitions by increasing 1.57% as of 1:25 p.m. Moscow time.
Godsell is the former chief and member of the board of directors of Anglo Gold Ashanti. He has chaired Polymetal's board of directors since October 2011, prior to which he was a company shareholder.
Homeniuk has sat on Polymetal's board of directors since June 2010 and was also previously a shareholder.
Polymetal reported in mid-April that Vitaly Nesis, chief executive of Polymetal International, bought a further 0.026% of the company's shares to increase his stake to 0.8%.
Polymetal's shares have lost about 40% of their value on the LSE since the beginning of the year. On March 18, the company's shares were included in the Stoxx Europe 600 index. Polymetal's industry colleague Petropavlovsk has suffered even more acutely, with its shares losing 62% of their value since January. Highland Gold Mining's shares have dropped 18%. Polyus Gold's shares have performed better, receiving support after the sale of Onexim's stake in the company. In comparison with early 2013, the company's shares are practically unchanged; however, when information surfaced near the beginning of February that Mikhail Prokhorov was withdrawing from the company, Polyus Gold's shares fell 12%.
Polymetal's free float s around 51%.
Polymetal International plc is the Jersey-registered holding company for Russia's Polymetal. The company has operations in the Magadan and Sverdlovsk regions, the Khabarovsk Territory, Chukotka and Kazakhstan.
The company's principal beneficiaries are Alexander Nesis' ICT Group (17.9%), Petr Kellner's PPF Group (20.86%), Alexander Mamut (10.12%), Alexander Mosionzhik's MBC Development (4.44%) and Oleg Shulyakovsky (4.27%).
