14 Apr 2009 09:37
OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia's leading gold producer, today announced the decisions taken at the Meeting of the Board of Directors held on April 13, 2009.
The Board of Directors pre-approved the Annual report of OJSC Polyus Gold for the year 2008.
Due to loss incurred by the parent company of the Group (not considering subsidiaries and affiliated companies), reflected in the 2008 financial reporting prepared in compliance with the Russian Accounting Standards and arising from decrease in market value of securities on the Company's books, the Board of Directors recommended to the Annual General Shareholders' Meeting of OJSC Polyus Gold not to declare dividend on shares in OJSC Polyus Gold upon the 2008 Company's financial results.
In the meantime, the Board of Directors instructed the Company's management to explore the possibility of declaring interim dividend upon the results of the 1st half of 2009, considering the Company's financial capacity.
OJSC Polyus Gold is Russia's leading gold producer and one of the world's largest gold companies in terms of market capitalization, minerals base and output. The Company's asset portfolio includes ore and alluvial deposits in Krasnoyarsk Territory, Irkutsk, Magadan and Amur Oblasts and Republic of Sakha (Yakutia). Gold production of OJSC Polyus Gold totaled 1,222m oz in 2008.
For further information please contact: Anton A. Arens, PR Director +7 (495) 641-3365 +7 (495) 544-5496pr@polyusgold.com
Alexey V. Chernushkin, Director, CM and IR Evguenia V.Buydina, IR manager +7 (495) 641-3377 +7 (495) 785-4031 ir@polyusgold.com