Polyus Finance PLC Completion of the early redemption (9599M)
May 14 2020 - 8:57AM
UK Regulatory
TIDM60GT TIDMPLZL
RNS Number : 9599M
Polyus Finance PLC
14 May 2020
For immediate release 1 4 May 2020
Polyus Finance Plc (the "Issuer")
Completion of the early redemption of the U.S.$250,000,000 1.00
per cent. convertible bonds due 2021 guaranteed on a joint and
several basis by Public Joint Stock Company Polyus and Joint Stock
Company Polyus Krasnoyarsk (ISIN: XS1759275578) (the "Bonds")
Capitalised terms not otherwise defined in this notice shall
have the meaning given to them in the terms and conditions of the
Bonds set out in part B of schedule 2 to the trust deed
constituting the Bonds dated 26 January 2018 (the
"Conditions").
Following the optional redemption notice (the "Optional
Redemption Notice") given by the Issuer to the Bondholders on 17
April 2020, all Bondholders exercised their Conversion Rights in
accordance with Conditions 6(A) and 6(B) by submitting the
Conversion Notices in respect of all of the Bonds outstanding. The
Issuer completed the transfer of the GDRs to the converting
Bondholders on 14 May 2020.
As a result of the conversion procedure, 4,089,567 GDRs were
transferred to the converting Bondholders under the Conversion
Notices received after the date of the Optional Redemption Notice,
which constitutes approximately 1.52% of the Parent Guarantor's
share capital.
Overall, since 8 March 2018, the Conversion Period Commencement
Date, a total of 4,513,871 GDRs were transferred to the converting
Bondholders, including 4,089,567 GDRs transferred under the
Conversion Notices received after the date of the Optional
Redemption Notice, which in the aggregate constitutes approximately
1.68% of the Parent Guarantor's share capital.
Polyus
Polyus is the largest gold producer in Russia and one of the top
five gold miners globally with the lowest cost position. Based on
its 2019 Ore Reserves and Mineral Resources, the Polyus group ranks
the third by attributable gold reserves among the world's largest
gold mining companies.
The Polyus group's principal operations are located in
Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha
(Yakutia).
IMPORTANT NOTICE
The early redemption of the Bonds cannot be accepted in any
jurisdiction where such redemption would be prohibited or
restricted by applicable law, or by residents of such
jurisdictions. No document related to the exercise of the early
redemption option can be transmitted, directly or indirectly, in
any such jurisdictions, or to such persons.
This notice does not constitute an offer to sell or a
solicitation of a purchase or a purchase order of securities in any
jurisdiction.
This notice and information contained herein is not an offer, or
an invitation to make offers, to sell, exchange or otherwise
transfer securities in the Russian Federation to or for the benefit
of any Russian person or entity and does not constitute an
advertisement or offering of securities in the Russian Federation
within the meaning of Russian securities laws. Information
contained in this notice is not intended for any persons who are
not "qualified investors" within the meaning of Article 51.2 of the
Federal Law No. 39-FZ "On the Securities Market" dated 22 April
1996, as amended (the "Russian QIs") and must not be distributed or
circulated into Russia or made available in Russia to any persons
who are not Russian QIs, unless and to the extent they are
otherwise permitted to access such information under Russian law.
Neither the Bonds nor the GDRs have been and will be registered in
Russia and neither the Bonds nor the GDRs are intended for
"placement" or "circulation" in Russia (each as defined in Russian
securities laws) unless and to the extent otherwise permitted under
Russian law.
Neither the Bonds nor the GDRs have been or will be registered
under the US Securities Act of 1933, as amended (the "Securities
Act"), or under any applicable securities laws of any state or
other jurisdiction of the United States and neither the Bonds nor
the GDRs may be offered or sold within the United States, except
pursuant to an exemption from the registration requirements of the
Securities Act and applicable state or local securities laws.
Forward looking statements
This notice may contain "forward-looking statements" concerning
Polyus and/or Polyus group. Generally, the words "will", "may",
"should", "could", "would", "can", "continue", "opportunity",
"believes", "expects", "intends", "anticipates", "estimates" or
similar expressions identify forward-looking statements. The
forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
expressed in the forward-looking statements. Forward-looking
statements include statements relating to future capital
expenditures and business and management strategies and the
expansion and growth of Polyus' and/or Polyus group's operations.
Many of these risks and uncertainties relate to factors that are
beyond Polyus' and/or Polyus group's ability to control or estimate
precisely and therefore undue reliance should not be placed on such
statements which speak only as at the date of this notice. Polyus
and/or any Polyus group company assumes no obligation in respect
of, and does not intend to update, these forward-looking
statements, except as required pursuant to applicable law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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