21 Jul 2023 11:55

Polymetal plans to complete re-domiciliation on Aug 7, last trading day on LSE is August 1

MOSCOW. July 21 (Interfax) - Polymetal expects to complete its re-domiciliation to the Astana International Financial Centre (AIFC) in Kazakhstan on August 7, the company said in a press release posted on the London Stock Exchange's website.

Following re-domiciliation, Polymetal shares will no longer be compatible with CREST, resulting in non-compliance with LSE listing requirements. Therefore, the last day of trading on the LSE is August 1.

Delisting from the LSE is subject to approval at the shareholders meeting on July 28. Termination of the shares listing will be no earlier than August 29, and the delisting will take effect no later than 20 working days from the date of the corresponding decision at the shareholders meeting.

The Astana International Exchange (AIX) will suspend trading in Polymetal shares after the end of the trading day on August 1 in order to carry out the necessary operations related to the re-domiciliation. Trading is expected to resume on or shortly after re-domiciliation. Despite the temporary suspension of trading, Polymetal confirms that it will retain its listing on the AIX after re-domiciliation, with the exchange becoming the site of the company's initial listing.

The Moscow Exchange will suspend trading in Polymetal shares as of July 29. The company expects trading to resume shortly after re-domiciliation.

Polymetal is Russia's largest silver producer and one of the leading gold miners. The holding's enterprises are located in the Magadan and Sverdlovsk regions; the Khabarovsk Territory; the Sakha Republic, or Yakutia; Chukotka; and Kazakhstan. The largest shareholder, at around 24%, is the ICT group belonging to Alexander Nesis and partners.