21st Oct 2008 13:44
For immediate releaseMoscow, October 21, 2008
CJSC Polyus Consolidates 100% of OJSC Matrosov Mine.
OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia's leading gold producer, today announced that CJSC Polyus, its wholly-owned subsidiary, had consolidated 100% of OJSC Matrosov Mine's shares, which was made within a squeeze-out offer made to OJSC Matrosov Mine. Matrosov Mine is the license-holder of Natalka gold deposit in Magadan region.
In July 2008 CJSC Polyus made a squeeze-out offer to the shareholders of OJSC Matrosov Mine, aimed at buying out all ordinary and preference shares of OJSC Matrosov Mine. The offer was made basing on Clause 7 of the Federal Law No7-ФЗ dated 5.01.2006 'On making amendments to the Federal Law 'On joint-stock companies' and to other legislative acts of the Russian Federation', as well as on Clause 84.8 of the Federal Law dated 26.12.1995 No 208-ФЗ 'On joint-stock companies'.
According to the squeeze out offer, CJSC Polyus bought out all OJSC Matrosov Mine ordinary and preference nominal uncertificated stocks from its shareholders at following prices:
RUR 56,396.83 per each ordinary share;
RUR 4.19 per each type A preferred share.
The buy out price was determined basing on the valuation of an independent appraiser LLC "Rosexpertiza" and was confirmed by the opinion of the self-regulatory assessment organization non-commercial partnership "Self-regulatory organization of the Russian assessment masters association".
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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). The company produced 1.2 m oz of gold in 2007. For further information please contact
For investors:
Alexey V. Chernushkin, Director, CM and IREvguenia V.Buydina, IR manager+7(495) 641-3377+7(495) 785-4031
For press:
Victoria V. Vergelskaya, PR Director Elena D. Evstigneeva, Media Relations +7 (495) 641-3365 +7 (495) 544-5496
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