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12 Aug 2008 15:34
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For immediate release Moscow,Β August 12,Β 2008
CJSC PolyusΒ makesΒ aΒ squeeze out offer to shareholder of OJSC Matrosov MineΒ
CJSC Polyus, a wholly owned subsidiary ofΒ OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia's leading gold producer,Β is announcing a squeeze out offerΒ madeΒ to the shareholders of OJSC Matrosov Mine, a license holder of Natalka depositΒ in Magadan region. The offer is aimed at buyingΒ out all ofΒ theΒ ordinary and preferredΒ shares of OJSC Matrosov Mine.Β
On May 14th, 2008,Β CJSCΒ Polyus hasΒ completed the shares buyout withinΒ aΒ voluntary offer.Β As a result of buyoutΒ CJSCΒ Polyus' stake in OJSC Matrosov MineΒ increased by 2.7%Β to 97.5%. In total, 9,107 ordinary shares were purchased at 56,396.83 rubles per share and 6,922Β type AΒ preferredΒ shares at 4.08 rubles per share. Therefore,Β CJSC Polyus'Β stake in OJSC Matrosov Mine was raised to over 95%, which entitledΒ the company toΒ make a squeeze out offer.Β Β
According to theΒ squeeze out offer,Β CJSC PolyusΒ is to buy outΒ all OJSC Matrosov Mine ordinary andΒ preferenceΒ nominal uncertificated stocks from its shareholders at following prices:
RUR56,396.Β 83Β Β per eachΒ ordinary share;
RUR4.19Β Β per each type A preferredΒ share.
The buy out price was determined basing on theΒ valuationΒ of an independent appraiser LLC "Rosexpertiza" and was confirmed by theΒ opinionΒ of the self-regulatory assessment organizationΒ non-commercial partnership "Self-regulatory organization ofΒ theΒ Russian assessment masters association".Β TheΒ record date for the squeeze out offer is SeptemberΒ 22,Β 2008.
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- EndsΒ -
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Polyus Gold is the largest gold producer in Russia. Headquartered in Moscow, Polyus Gold's operating mines and development/exploration projects are located in five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan, Amur regions and the Republic of Sakha (Yakutia). TheΒ companyΒ producedΒ 1.2Β mΒ ozΒ ofΒ goldΒ inΒ 2007.
CJSCΒ Polyus,Β aΒ whollyΒ ownedΒ subsidiaryΒ ofΒ OJSCΒ PolyusΒ GoldΒ isΒ operatingΒ atΒ OlimpiadaΒ Mine in Krasnoyarsk region, the key production unit of Polyus Gold and the largest stand alone gold producer in Russia.
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For further information please contact
For investors:
Alexey V. Chernushkin, Director, CM and IR
Evguenia V.Buydina, IR manager
+7(495) 641-3377
+7(495) 785-4031
ir@polyusgold.com
For press:
Victoria V. Vergelskaya, PR Director Elena D. Evstigneeva, Media Relations +7 (495) 641-3365 +7 (495) 544-5496
pr@polyusgold.com
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