Petropavlovsk PLC IRC Announcement (0115K)
August 27 2021 - 2:30AM
UK Regulatory
TIDMPOG
RNS Number : 0115K
Petropavlovsk PLC
27 August 2021
27 August 2021
Petropavlovsk PLC
IRC Announcement: H1 2021 Interim Results
Petropavlovsk PLC (the "Company") notes that IRC Limited
("IRC"), a producer and developer of industrial commodities in
which the Company is a significant shareholder (31.1%), has today
made an announcement regarding its interim results for the six
months ended 30 June 2021.
Petropavlovsk acts as guarantor in relation to the obligations
of K&S, a wholly owned IRC subsidiary, under two loan facility
agreements with Gazprombank ("GPB"). During the period, IRC made
principal repayments totalling US$10.3m to GPB in accordance with
the loan repayment schedule and, in addition, settled guarantee
fees of US$13.8m to Petropavlovsk PLC. Additionally, K&S made
repayments totalling US$50m to GBP in July and August. Therefore,
the outstanding loan principal amount as of the date of this
announcement amounted to c.US$143.5m.
The full text of the announcement may be found on the website of
IRC at http://www.ircgroup.com.hk
About Petropavlovsk
Petropavlovsk PLC (LSE: POG. MOEX: POGR) is a major integrated
Russian gold producer with JORC Resources of 19.50Moz Au which
include Reserves of 7.16Moz Au. Following its IPO on the
Alternative Investment Market (AIM) in 2002, Petropavlovsk was
promoted to the London Stock Exchange in 2009, where today it is a
Premium Listed company and a constituent of the FTSE 250, FTSE 350
and FTSE All Share indices. The Company's shares also trade on the
Moscow Exchange and are a constituent of the RTS Index and MOEX
Index.
The Company's key operating mines (Pioneer, Malomir and Albyn)
and its Pokrovskiy Pressure Oxidation (POX) Hub are located in the
Amur Region in the Russian Far East. Petropavlovsk has produced a
total of c.8.5Moz of gold since operations began in 1994 and has a
strong track record of mine development, expansion, and asset
optimisation.
Petropavlovsk is one of the region's largest employers and one
of the largest contributors to the sustainable development of the
local economy.
For more information
Please visit www.petropavlovskplc.com or contact:
Petropavlovsk PLC +44 (0) 20 7201 8900
John Mann / Max Zaltsman TeamIR@petropavlovskplc.com
Hudson Sandler +44 (0) 20 7796 4133
Charlie Jack / Katerina Parker / Elfie Kent Petropavlovsk@hudsonsandler.com
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END
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