15 Oct 2020 11:00
15 October 2020
Petropavlovsk PLC
Issue of Shares
Petropavlovsk PLC ("Petropavlovsk" or the "Company"), has received Conversion Notices (the "Notices") from Euroclear Bank SA / NV on behalf of BNP Paribas Securities Services SCA and from Vidacos Nominees Limited on behalf of CACEIS Bank, in respect of the exercise of conversion rights under the Group's US$125m Guaranteed Convertible Bonds, due in 2024 (the "Bonds").
The aggregate principal amount of Bonds in respect of which Notices have been served totals US$2,600,000, which, at a fixed exchange price of US$0.135 per ordinary share, will result in the issue and allotment of 19,259,258 new ordinary shares.
The Company has agreed to issue the new ordinary shares and an application has been made for 19,259,258 new ordinary shares of the Company to be admitted to the Official List and to trading on the London Stock Exchange ("Admission"). Admission is expected to be granted on or around 16 October 2020.
Following Admission, the total issued share capital of the Company will increase to 3,940,973,959 ordinary shares. This figure may be used by shareholders as the denominator for calculations by which they will determine whether they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
About Petropavlovsk
Petropavlovsk PLC (LSE: POG. MOEX: POGR) is a major integrated Russian gold producer with JORC Resources of 21.03Moz Au which include Reserves of 8.46Moz Au. Following its IPO on the Alternative Investment Market (AIM) in 2002, Petropavlovsk was promoted to the London Stock Exchange in 2009, where today it is a Premium Listed company and a constituent of the FTSE 250, FTSE 350 and FTSE All Share indices.
The Company's key operating mines (Pioneer, Malomir and Albyn) are in the Amur Region in the Russian Far East. Petropavlovsk has produced a total of c.7.9Moz of gold since operations began in 1994 and 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 one of the region's largest employers and one of the largest contributors to the sustainable development of the local economy.
Enquiries
Please visit www.petropavlovsk.net or contact:
Petropavlovsk PLC Patrick Pittaway / Max Zaltsman / Viktoriya Kim
| +44 (0) 20 7201 8900 TeamIR@petropavlovsk.net |
Citi Tom Reid / Andrew Miller-Jones | +44 (0) 20 7986 4000 |
UBS David Roberts / Alistair Smith | +44 (0) 20 7567 8000 |
Buchanan Bobby Morse / Kelsey Traynor / Ariadna Peretz
| +44 (0) 20 7466 5000 POG@buchanan.uk.com |
Citigroup Global Markets Limited ("Citi") is authorised by the Prudential Regulation Authority and regulated in the UK by the Financial Conduct Authority and the Prudential Regulation Authority. UBS AG London Branch ("UBS") is authorised and regulated by the Financial Market Supervisory Authority in Switzerland. It is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority in the United Kingdom. Citi and UBS are acting exclusively for Petropavlovsk PLC ("Petropavlovsk") and for no-one else in connection with the contents of this announcement and will not be responsible to anyone other than Petropavlovsk for providing the protections afforded to clients of Citi or UBS for providing advice in relation to the contents of this announcement or any matters referred to herein.