Polymetal considered delisting, opted to maintain premium LSE listing

MOSCOW. April 25 (Interfax) - Polymetal's board of directors and management thought about delisting, but came to the conclusion that it is not in the interests of the company and its shareholders, the company's CEO Vitaly Nesis said during a conference call.

Moreover, the board and the company's management consider the premium listing on the London Stock Exchange (LSE) a valuable element of the company's capital structure. Polymetal will thus try to meet the criteria necessary to maintain it, including in the eyes of regulators, Nesis said.

Polymetal is listed on three exchanges: in London, Moscow and Astana.

Polymetal is Russia's largest silver producer and one the country's leading gold miners. It has operations in the Magadan, Sverdlovsk, Khabarovsk, Yakutia, Chukotka and Kazakhstan. The largest shareholders are the ICT Group of Alexander Nesis and partners (approximately 24%) and BlackRock funds (approximately 10%).