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Pin to quick picksPetropavlovsk Share News (POG)

Share Price Information for Petropavlovsk (POG)

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Share Price: 26.06
Bid: 26.10
Ask: 26.14
Change: 0.00 (0.00%)
Spread: 0.04 (0.15%)
Open: 26.50
High: 26.52
Low: 26.00
Yest. Close: 26.36
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TOP NEWS: Petropavlovsk Shareholders Oust CEO, Vote For Investigation

Mon, 10th Aug 2020 14:34

(Alliance News) - Petropavlovsk PLC on Monday said resolutions ousting its chair and chief executive passed at a requisitioned general meeting, along with a resolution requiring it to arrange for an independent forensic investigation.

Shares in Petropavlovsk were down 7.0% at 32.08 pence in London in afternoon trading.

The successful resolution to remove all directors appointed since July 9 was proposed by Prosperity Capital Management. Prosperity's other resolutions, to re-appoint Damien Hackett and Harry Kenyon-Slaney, as well as to appoint Vitaliy Zarkhin, failed.

Everest Alliance Ltd, a 5% shareholder, proposed the appointment of Michael Kavanagh to the board, which was approved, but the passing of the Prosperity director removal resolution means FTSE 250-listed Russia-focused gold miner Petropavlovsk must remove him as a director.

The forensic investigation, which will cover related party transactions for the three years prior to the requisitioned meeting, was also proposed by Everest Alliance.

Everest's resolutions to appoint Paul Bushell and Ivan Kulakov to the Petropavlovsk board, failed, but all of its other resolutions succeeded. These included resolutions to remove Non-Executive Chair Peter Hambro, Chief Executive Alya Samokhvalova, and Non-Executive Directors Johnny Smith and Angelica Phillips.

Following the requisitioned meeting, Petropavlovsk's board consists of James Camerson, Maksim Kharin, Harlotte Philipps, and Katia Ray.

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News

Petropavlovsk maintains production guidance after first-quarter plunge

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Co-founder of gold miner Petropavlovsk charged with embezzlement -Interfax

MOSCOW, Dec 25 (Reuters) - Pavel Maslovskiy, the co-founder and former chief executive at London-listed Russian gold miner Petropavlovsk, has been charged with alleged embezzlement and detained pending trial, Interfax new agency quoted a Moscow c...

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(Sharecast News) - London-listed Russian gold miner Petropavlovsk said it had appointed of KPMG to investigate related-party transactions undertaken by the company over the last three years.

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Sunday newspaper round-up: China, Facebook, Petropavlovsk

(Sharecast News) - Britain will lose billions of pounds of investment and thousands of jobs unless it reverses its hostility to China, an influential lobby group for Chinese businesses has warned. In the most stark public intervention yet, the China Chamber of Commerce in the UK - which represents companies including Huawei, ZTE and Air China - said there could also be a consumer backlash against British companies such as Jaguar Land Rover and Burberry, which are heavily reliant on China's middle-class customers. Relations between China and the UK are at their lowest ebb in decades, hit by Beijing's power grab in Hong Kong and Donald Trump's trade war with President Xi Jinping. - Sunday Times

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Petropavlovsk Enjoys Profit Hike In First Half Amid High Gold Prices

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