Aeon Mining Reduces 28% Holding In Petropavlovsk To Below Threshold

(Alliance News) - Petropavlovsk PLC said Wednesday that the Uzhuralzoloto Group of Cos picked up a 28% stake in the Russian gold miner on Tuesday.

On the same date, Aeon Mining Ltd, the group's largest shareholder, disposed of its 28% stake in Petropavlovsk, leaving it with a holding below the notifiable threshold.

Uzuralzoloto is a gold miner based in the South Ural region of Russia. In October, Aeon Mining was responsible for nominating Mirzaaziz Musakhanov as non-executive director in October.

Shares in Petropavlovsk were down 1.5% at 17.28 pence on Wednesday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.