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1 Jun 2018 16:36
Press Release 1 June 2018
PJSC Polyus
AGM results
PJSC Polyus (LSE, MOEX - PLZL) ("Polyus", the "Company", and together with the Company subsidiaries, the "Group") announces the results of its Annual General Meeting held on 31 May 2018 ("AGM").
The resolutions made at the AGM included the following:
• To approve the Annual Report and the financial results of PJSC Polyus for the full year 2017
• To approve 2017 full year dividends of 33,229,523,419.92 Russian roubles.
The final dividend payment has been approved at 147.12 Russian roubles per ordinary share, as earlier recommended by the Board of Directors.
The total recommended dividend payout for the second half of 2017 will amount to 19,469,807,248.32 Russian roubles and correspond to 311 million U.S. dollars.
The total dividend payout for the full year of 2017 will correspond to 550 million U.S. dollars. Polyus' current dividend policy suggests the total dividend payout in respect of each of the years 2017 and 2018 as the higher of 30% of the Company's EBITDA for the respective reporting year or 550 million U.S. dollars. This amount includes 239 million U.S. dollars paid out in form of dividend for the first half of 2017 in October 2017.
10 June 2018 has been approved as the dividend record date.
• To elect the following members of the Board of Directors ("Board"):
o Pavel Grachev
o Maria Gordon
o Edward Dowling
o Said Kerimov
o Sergei Nossoff
o Vladimir Polin
o Kent Potter
o Mikhail Stiskin
o William Champion
Independent Directors account for 4 seats out of 9 on the Board of Directors. Independent Directors chair all the Committees of the Board. The Board of Directors has re-elected Edward Dowling Chairman of the Board.
Polyus
Polyus is the largest gold producer in Russia and one of the top ten gold miners globally with the lowest cost position. Based on its 2017 Ore Reserves and Mineral Resources, Polyus group ranks second both by attributable gold reserves and gold resources among the world's largest gold mining companies.
The Polyus group's principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia).
Enquiries
Investor contact
Victor Drozdov, Director Investor Relations
+7 (495) 641 33 77
drozdovvi@polyus.com
Media contact
Victoria Vasilyeva, Director Public Relations
+7 (495) 641 33 77
vasilevavs@polyus.com
Forward looking statement
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.
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