POG.L Regulatory News (POG)

21 April 2020

Petropavlovsk PLC

Appointment of Non-Executive and Executive Directors

Petropavlovsk PLC (the "Company"), is pleased to announce the appointments of Mr Maxim Kharin as a Non-Executive Director and Mr Danila Kotlyarov as an Executive Director with immediate effect.

Mr Kharin currently serves as the Director for Economics and Finance ("CFO") at Uzhuralzoloto Group of Companies ("UGC"), a role he has held since 2012, and where he has also served as the Chairman of its Board since 2018.

Mr Kharin was nominated as a Director by UGC, the Company's largest shareholder. In line with the Company's governance procedures, the appointment of Mr Kharin was reviewed by the Nominations Committee prior to recommendation to the Board for approval. The Company has entered into a relationship agreement with UGC and UGC's ultimate beneficial owner, in line with best corporate governance practice.

Mr Kharin has a degree in Computer-aided Systems of Management from the Far Eastern State Technical University of Russia and became a qualified accountant in 2006. Prior to joining UGC as its CFO, Mr Kharin held several roles in the International Audit Department at Moore Stephens where he held the title of Senior Auditor and Director and was responsible for the independent audit of companies across a range of sectors, including mining, with a particular focus on the transformation of Russian Accounting Standards to IFRS.

Mr Kotlyarov was appointed as CFO at Petropavlovsk PLC in February 2020. Mr Kotlyarov holds a BA in Management from Moscow State University and a MA in International Economics from the Moscow State Institute of International Relations (MGIMO). He is a fellow member of the Association of Chartered Certified Accountants (ACCA), Chartered Financial Analyst (CFA), member of Hong Kong and Russia Associations of Financial Analysts.

Mr Kotlyarov has extensive financial management work experience in various international companies including most recently as CFO and Executive Director to IRC Ltd. Mr Kotlyarov still continues to serve on the Board of IRC Ltd as a Non-Executive Director.

Commenting on the appointments, Sir Roderic Lyne, Non-Executive Chairman, said:

"I welcome Maxim Kharin of UGC and Danila Kotlyarov to the Board.

Danila Kotlyarov brings high qualifications and previous experience as the Finance Director of a listed company, IRC. He has made an impressive contribution to Petropavlovsk since his appointment as Chief Finance Officer in February and will now step up the role of Executive Director.

Maxim Kharin has been nominated by our largest shareholder, UGC, to represent their interests as a Non-Executive Director, in accordance with past practice. UGC is a significant Russian gold producer and will have its own experience and insights to offer. We look forward to having the support of UGC as the Board develops Petropavlovsk's strategy for growth and stakeholder value based on our strong performance over the past 18 months in mining and technology."

Mr Kharin commented:

"I am delighted to be joining the Board of one of Russia's largest gold producers at this exciting time in Petropavlovsk's history. As one of the most established miners on the London Stock Exchange, the Company has strong foundations in terms of a high-quality and long-life asset base in the far east of Russia from which it can grow and consolidate its position.

Petropavlovsk's ability to process even the most complex refractory gold ores demonstrates the unique skill set of its engineering and scientific teams which, through pressure oxidation, have secured the Company's future and provides exciting optionality going forward.

I look forward to working closely with the Board and management to unlock future value for all stakeholders and imparting the knowledge, experience and expertise that UGC has gained in the Russian gold mining industry".

There is no additional information to disclose in respect of Listing Rule 9.6.13 in relation to the appointment of either Maxim Kharin or Danila Kotlyarov.

About Petropavlovsk

With a Premium Listing on the London Stock Exchange, Petropavlovsk (LSE: POG) is a major integrated Russian gold producer with JORC Resources of 20.52Moz Au which include Reserves of 8.21Moz Au.

The Company's key operating mines (Pioneer, Malomir and Albyn) are in the Amur Region in the Russian Far East and the Company has produced a total of c.7.6Moz of gold since operations began in 1994. Petropavlovsk has a strong track record of mine development, expansion and asset optimisation.

The Group recently entered a new era of growth following the successful commissioning and start-up of its flagship asset, the Pressure Oxidation (POX) Hub at Pokrovskiy, which enables the processing of the Company's abundant refractory reserves and resources.

Petropavlovsk is committed to implementing international best practices across all areas of sustainable development and is one of the region's largest employers and contributors to the local economy.

For More Information

Please visit www.petropavlovsk.net or contact: