Polymetal International plc (POLY)
Polymetal: Clarification to the expected timetable of the Re-domiciliation
10-Jul-2023 / 09:00 MSK
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Release time IMMEDIATE LSE, MOEX, AIX: POLY
ADR: AUCOY
Date 10 July 2023
Polymetal International plc Clarification to the expected
timetable of the Re-domiciliation
Polymetal International plc (the "Company") wishes to provide
clarification to the current expected timetable in connection with
the re-domiciliation to the Astana International Financial Centre
("AIFC") in Kazakhstan (the "Re-domiciliation").
Clarification to the expected timetable of the
Re-domiciliation
On 29 June 2023, the Company acknowledged that it will not meet
the initial scheduled timetable of the Re-domiciliation, as a
result of delays in the anticipated processes on which the
Re-domiciliation is contingent.
Consequently, and on the basis that the Re-domiciliation may
only occur after the conclusion of the Company's 2023 Annual
General Meeting ("AGM") which is scheduled to be held on 25 July
2023, the Company can confirm that:
-- the Re-domiciliation will not occur prior to the week
commencing 31 July 2023;
-- there is no scheduled date for the suspension of listing or
trading of the Company's shares;
-- the Company's shares continue to be traded on the London
Stock Exchange and will continue until furtherannouncement; and
-- any further announcement will not contemplate a suspension
prior to the week commencing 31 July 2023.
Despite the delays to the timetable, the Company can confirm
that:
-- The Re-domiciliation has been approved by Shareholders at the
General Meeting on 30 May 2023;
-- No objections have been received, either from creditors or
shareholders who did not vote in favour of theRe-domiciliation,
within the prescribed notice period under Jersey law; and
-- The Company and its advisers have engaged in collaborative
dialogue with the relevant regulatoryauthorities and is of the view
that continuing good progress has been made with both the AFSA
Registrar and theJFSC with respect to receiving their required
consent for the Re-domiciliation.
The Company and the Board remain fully committed to pursuing the
Re-Domiciliation for the reasons set out in the circular published
by the Company on 10 May 2023 (the "Re-domiciliation
Circular").
The Company and its advisers continue to engage with the
relevant regulatory authorities and are hopeful that the relevant
approvals will be received in due course.
The Company will notify Shareholders by an announcement through
a Regulatory Information Service when it has further certainty on
the timing of which the Re-domiciliation will occur.
Further details of the Re-domiciliation can be found in the
Re-domiciliation Circular and in the FAQs, both of which can be
found at:
https://www.polymetalinternational.com/en/re-domiciliation-agm/.
The updated FAQs reflecting the latest status of the
Re-domiciliation will soon become available on the Company's
website.
For the avoidance of doubt, the Company reminds Shareholders
that, as clearly stated in the Re-domiciliation Circular, the
Re-domiciliation 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. Subject to
continuing sanctions compliance and satisfaction of the remaining
conditions, the Re-domiciliation is expected to proceed as set out
in the Re-domiciliation Circular, save for the update to the
timetable as outlined above.
Update on progress of the London De-Listing
The Company also wishes to provide an update that progress has
been made in relation to the London De-Listing.
As set out in the Re-domiciliation Circular, the Company will,
as soon as practicable, publish a shareholder circular and seek
shareholder approval for the London De-listing.
Notwithstanding this progress, and for the reasons set out in
the Re-domiciliation Circular, the Board continues to be of the
view that the Re-domiciliation is critical to preserve shareholder
value and must be implemented as a first step, as soon as possible,
even absent the contemporaneous approval of Shareholders for the
London De-listing.
The Company confirms that any London De-Listing will be subject
to shareholder approval and will take effect no less than 20
Business Days following the passing of the relevant resolution by
shareholders at a General Meeting.
Further announcements will be made as and when necessary.
Unless otherwise defined herein, defined terms have the same
meaning as defined in the Re-domiciliation Circular, as
appropriate.
Enquiries
Investor Relations
Polymetal International plc ir@polymetalinternational.com
Evgeny Monakhov +44 20 7887 1475 (UK)
Kirill Kuznetsov +7 717 261 0222 (Kazakhstan)
FORWARD-LOOKING STATEMENTS
This release may include statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking
statements speak only as at the date of this release. These
forward-looking statements can be identified by the use of
forward-looking terminology, including the words "targets",
"believes", "expects", "aims", "intends", "will", "may",
"anticipates", "would", "could" or "should" or similar expressions
or, in each case their negative or other variations or by
discussion of strategies, plans, objectives, goals, future events
or intentions. These forward-looking statements all include matters
that are not historical facts. By their nature, such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond the company's
control that could cause the actual results, performance or
achievements of the company to be materially different from future
results, performance or achievements expressed or implied by such
forward-looking statements. Such forward-looking statements are
based on numerous assumptions regarding the company's present and
future business strategies and the environment in which the company
will operate in the future. Forward-looking statements are not
guarantees of future performance. There are many factors that could
cause the company's actual results, performance or achievements to
differ materially from those expressed in such forward-looking
statements. The company expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the company's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements
are based.
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Dissemination of a Regulatory Announcement, transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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ISIN: JE00B6T5S470
Category Code: MSCM
TIDM: POLY
LEI Code: 213800JKJ5HJWYS4GR61
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 256358
EQS News ID: 1675681
End of Announcement EQS News Service
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July 10, 2023 02:00 ET (06:00 GMT)
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