2nd Jun 2008 11:23
For immediate releaseMoscow, June 02, 2008
Polyus Gold announces ADR split
OJSC Polyus Gold (RTS, MICEX and LSE - PLZL) (the "Company"), Russia's leading gold producer, announces that the Board has approved a change in the ratio for the conversion of the Company's ordinary shares into American Depositary Shares (ADSs) from 1:1 to 1:2. As at June 02, 2008 the Company had 66,719,711 ADSs listed on the official list of the UKLA and admitted to trading on the main market of the London Stock Exchange, with each ADS representing one ordinary share in the Company. With effect from June 10, 2008, one ordinary share of the Company will be represented by two ADSs. All ADS holders will be given one additional ADS for each ADS that they hold at the record time on the record date, as set out below.
The Bank of New York Mellon, the depositary bank for the Company's ADS program, has confirmed to the Company the following timetable:
June 6, 2008 - Record date.
June 10, 2008 - Distribution of additional ADSs.
The current issued ADSs will not be recalled for exchange, and the new ratio will be applied automatically. The split is not as a result of any corporate action relating to the Company's ordinary shares. No action is required from ADS holders.
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[email protected]
For press:
Victoria V. Vergelskaya, PR DirectorElena D. Evstigneeva, Media Relations +7 (495) 641-3365 +7 (495) 544-5496[email protected]
Bank of New York Mellon contact details:
New YorkJason A. Smith Assistant Treasurer[email protected] +1 212 815 3874
LondonDamon Rowan Assistant Treasurer[email protected] + 44 207 964 6419
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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.
Related Shares:
PLZL.L