From John Mann7 Apr 2022 17:34
Hi Nathan
At the beginning of March, our shareholder UGC and their counterparty Regions filed TR1 disclosures regarding the former's intent to sell its 29% stake in Petropavlovsk to the latter. Apparently that transaction did not close as both have now filed TR1s to that effect.
The transaction was taking place at the shareholder level. Petropavlovsk was itself not involved so we don’t have insight as to why it was not completed. However, the result is that UGC was and remains the holder of that 29% stake.
Best regards,
John