PLZL.L Regulatory News (PLZL)

Press Release 19 August 2020

PJSC Polyus

AGM results

PJSC Polyus (LSE, MOEX: PLZL) ("Polyus", or the "Company") announces the results of its Annual General Meeting held on 18 August 2020 ("AGM").

The resolutions made at the AGM included the following:

1. To approve the PJSC Polyus Annual Report and PJSC Polyus annual accounting (financial) statements for 2019.

2. To distribute net profit of PJSC Polyus based on the 2019 fiscal year results in the amount of RUB 106,246,308,676.38 as follows:

· To declare dividend payment based on the 2019 results in cash.

· To approve the final dividend payout in the amount of RUB 244.75 per PJSC Polyus ordinary share. This excludes the earlier payout of the interim dividend over 6 months of 2019 in the amount of RUB 162.98 per PJSC Polyus ordinary share

The dividend amount is equivalent to approximately 3.44 U.S. dollars per ordinary share or 1.72 U.S. dollars per depositary share (with two depositary shares representing interest in one ordinary share).

The total recommended dividend payout for the second half of 2019 will correspond to approximately 462 million U.S. dollars[1].

The total dividend payout for the full year of 2019 will correspond to approximately 804 million U.S. dollars. Polyus' current dividend policy suggests the total dividend payout for the full year as 30% of the Company's EBITDA.

This amount includes 342 million U.S. dollars paid out in form of dividend for the first half of 2019.

28 August 2020 has been approved as the dividend record date. 

3. To elect the following persons to the Board of Directors:

· Maria Gordon

· Pavel Grachev

· Edward Dowling

· Said Kerimov

· Sergei Nossoff

· Vladimir Polin

· Kent Potter

· Mikhail Stiskin

· William Champion

Independent Directors account for 4 seats out of 9 on the Board of Directors.

4. To approve FinExpertiza LLC as the auditor of PJSC Polyus for 2020.

5. To approve a related party transaction - execution of indemnity in favour of members of the Board of Directors of PJSC Polyus (except members of the Board of Directors of PJSC Polyus being controlling persons of PJSC Polyus within the meaning of the Federal Law No 208-FZ dated 26 December 1995 "On joint stock companies" or holding position in governing bodies of controlling entities of PJSC Polyus).

6. To approve the Regulation on the Board of Directors of PJSC Polyus (revised version).

7. To approve the Regulations on Remunerations and Compensations to Members of the Board of Directors of PJSC Polyus.

To establish that remuneration to members of the Board of Directors of PJSC Polyus and compensation of their expenses related to the performance of their functions as members of the Board of Directors shall be paid in amounts specified in the Regulations on Remunerations and Compensations to Members of the Board of Directors of PJSC Polyus.

Polyus

Polyus is the largest gold producer in Russia and one of the top five gold miners globally with the lowest cost position. Based on its 2019 Ore Reserves and Mineral Resources, Polyus group ranks the third by attributable gold reserves among the world's largest gold mining companies.

The Polyus group's principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).

Investor and Media contact

Victor Drozdov, Director Communications & Investor Relations (CIR) Department

+7 (495) 641 33 77

drozdovvi@polyus.com 

Forward-looking statements

This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus group. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus' and/or Polyus group's operations. Many of these risks and uncertainties relate to factors that are beyond Polyus' and/or Polyus group's ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.