Polymetal expects to complete redomiciliation in late July at earliest

MOSCOW. July 10 (Interfax) - Polymetal , Russia's largest silver producer and one of the country's biggest gold miners, has confirmed plans to complete its redomiciliation to the Astana International Financial Centre (AIFC) in Kazakhstan, which it said earlier would be delayed by two weeks.

The redomiciliation "will not occur prior to the week commencing July 31, 2023," Polymetal said in a press release on Monday.

There is still no scheduled date for the suspension of Polymetal shares' listing or trading on the London Stock Exchange, so the shares continue to be traded on the LSE and will continue to be until further announcement, the company said, adding that the suspension will not happen before the week starting July 31.

Polymetal also said that no objections have been received, either from creditors or shareholders who did not vote in favor of the redomiciliation, within the prescribed notice period under Jersey law.

"The Company and its advisers have engaged in collaborative dialogue with the relevant regulatory authorities and is of the view that continuing good progress has been made with both the [Astana] AFSA Registrar and the [Jersey] JFSC with respect to receiving their required consent for the redomiciliation," Polymetal said.

"For the avoidance of doubt, the Company reminds Shareholders that, as clearly stated in the redomiciliation Circular, the redomiciliation is subject to the satisfaction of certain conditions and will proceed provided the Board can be assured at all times of continuing compliance with all applicable sanctions. The Company and the Board continues to work with their legal advisers in order to be able to give that assurance," Polymetal said.

Polymetal shareholders voted at an extraordinary general meeting in late May to approve the company's redomiciliation from Jersey to the AIFC.