REG-Polymetal International plc Polymetal: Clarification to the expected timetable of the Re-domiciliation

Polymetal International PKAnnouncement

10/07/2023 07:00

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   Polymetal International plc (POLY)
   Polymetal: Clarification to the expected timetable of the Re-domiciliation

   10-Jul-2023 / 09:00 MSK

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   Release time IMMEDIATE                            LSE, MOEX, AIX: POLY
   Date         10 July 2023                                   ADR: AUCOY
                                                      

   Polymetal International plc

     Clarification to the expected timetable of the Re-domiciliation

   Polymetal  International   plc   (the   “Company”)   wishes   to   provide
   clarification to the  current expected  timetable in  connection with  the
   re-domiciliation to the Astana International Financial Centre (“AIFC”)  in
   Kazakhstan (the “Re-domiciliation”).

   Clarification to the expected timetable of the Re-domiciliation

   On 29  June  2023, the  Company  acknowledged that it  will  not meet  the
   initial scheduled timetable of the Re-domiciliation, as a result of delays
   in the anticipated processes on which the Re-domiciliation is contingent.

   Consequently, and on the  basis that the  Re-domiciliation may only  occur
   after the conclusion of the Company’s 2023 Annual General Meeting  (“AGM”)
   which is scheduled to  be held on  25 July 2023,  the Company can  confirm
   that:

     • the Re-domiciliation will not  occur prior to  the week commencing  31
       July 2023;
     • there is no scheduled date for the suspension of listing or trading of
       the Company’s shares;
     • the Company’s  shares  continue  to  be traded  on  the  London  Stock
       Exchange and will continue until further announcement; and
     • any further announcement  will not contemplate  a suspension prior  to
       the week commencing 31 July 2023.

   Despite the delays to the timetable, the Company can confirm that:

     • The Re-domiciliation has been approved by Shareholders at the  General
       Meeting on 30 May 2023;
     • No  objections   have  been   received,  either   from  creditors   or
       shareholders who  did  not vote  in  favour of  the  Re-domiciliation,
       within the prescribed notice period under Jersey law; and
     • The Company and  its advisers have  engaged in collaborative  dialogue
       with the  relevant regulatory  authorities  and is  of the  view  that
       continuing good progress has  been made with  both the AFSA  Registrar
       and the JFSC with respect to receiving their required consent for  the
       Re-domiciliation.

   The  Company  and  the  Board  remain  fully  committed  to  pursuing  the
   Re-Domiciliation for the reasons set out in the circular published by  the
   Company on 10 May 2023 (the “Re-domiciliation Circular”).

   The Company  and  its  advisers  continue  to  engage  with  the  relevant
   regulatory authorities and are hopeful that the relevant approvals will be
   received in due course.

   The  Company  will  notify  Shareholders  by  an  announcement  through  a
   Regulatory Information Service when it has further certainty on the timing
   of which the Re-domiciliation will occur.

   Further  details   of   the  Re-domiciliation   can   be  found   in   the
   Re-domiciliation Circular and in the FAQs, both of which can be found  at:
    1 https://www.polymetalinternational.com/en/re-domiciliation-agm/.    The
   updated FAQs reflecting  the latest  status of  the Re-domiciliation  will
   soon become available on the Company’s website.

   For the  avoidance of  doubt, the  Company reminds  Shareholders that,  as
   clearly stated in the  Re-domiciliation Circular, the Re-domiciliation  is
   subject to  the  satisfaction  of  certain  conditions  and  will  proceed
   provided the Board can  be assured at all  times of continuing  compliance
   with all applicable sanctions. The Company and the Board continues to work
   with their legal  advisers in  order to be  able to  give that  assurance.
   Subject  to  continuing  sanctions  compliance  and  satisfaction  of  the
   remaining conditions, the Re-domiciliation is  expected to proceed as  set
   out in the Re-domiciliation Circular, save for the update to the timetable
   as outlined above.

   Update on progress of the London De-Listing

   The Company also wishes to provide  an update that progress has been  made
   in relation to the London De-Listing.

   As set out in the Re-domiciliation Circular, the Company will, as soon  as
   practicable, publish a shareholder circular and seek shareholder  approval
   for the London De-listing.

   Notwithstanding this  progress,  and  for  the  reasons  set  out  in  the
   Re-domiciliation Circular, the Board continues to be of the view that  the
   Re-domiciliation is critical  to preserve  shareholder value  and must  be
   implemented as  a  first  step,  as soon  as  possible,  even  absent  the
   contemporaneous approval of Shareholders for the London De-listing.

   The Company  confirms  that  any  London De-Listing  will  be  subject  to
   shareholder approval and will  take effect no less  than 20 Business  Days
   following the  passing of  the relevant  resolution by  shareholders at  a
   General Meeting.

   Further announcements will be made as and when necessary.

   Unless otherwise defined herein,  defined terms have  the same meaning  as
   defined in the Re-domiciliation Circular, as appropriate.

   Enquiries

       Investor Relations
   Polymetal International plc  2 ir@polymetalinternational.com
   Evgeny Monakhov             +44 20 7887 1475 (UK)
   Kirill Kuznetsov            +7 717 261 0222 (Kazakhstan)

    

                           FORWARD-LOOKING STATEMENTS

    

   This release may  include statements  that are, or  may be  deemed to  be,
   “forward-looking statements”. These forward-looking statements speak  only
   as at the date  of this release. These  forward-looking statements can  be
   identified by the use of forward-looking terminology, including the  words
   “targets”,  “believes”,  “expects”,  “aims”,  “intends”,  “will”,   “may”,
   “anticipates”, “would”, “could” or “should” or similar expressions or,  in
   each  case  their  negative  or  other  variations  or  by  discussion  of
   strategies, plans, objectives, goals,  future events or intentions.  These
   forward-looking statements  all include  matters that  are not  historical
   facts. By their nature, such forward-looking statements involve known  and
   unknown risks,  uncertainties  and  other  important  factors  beyond  the
   company’s control  that could  cause the  actual results,  performance  or
   achievements of  the  company  to  be  materially  different  from  future
   results,  performance  or  achievements  expressed  or  implied  by   such
   forward-looking statements. Such forward-looking  statements are based  on
   numerous assumptions regarding the  company’s present and future  business
   strategies and the environment  in which the company  will operate in  the
   future.  Forward-looking   statements  are   not  guarantees   of   future
   performance. There are many factors that could cause the company’s  actual
   results, performance  or  achievements  to differ  materially  from  those
   expressed  in  such  forward-looking  statements.  The  company  expressly
   disclaims any  obligation or  undertaking to  disseminate any  updates  or
   revisions to any  forward-looking statements contained  herein to  reflect
   any change in the company’s expectations with regard thereto or any change
   in events, conditions or  circumstances on which  any such statements  are
   based.

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           JE00B6T5S470
   Category Code:  MSCM
   TIDM:           POLY
   LEI Code:       213800JKJ5HJWYS4GR61
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   256358
   EQS News ID:    1675681


    
   End of Announcement EQS News Service

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    3 fncls.ssp?fn=show_t_gif&application_id=1675681&application_name=news&site_id=refinitiv2

References

   Visible links
   1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=92903457cfc071543651699c1366e4c2&application_id=1675681&site_id=refinitiv2&application_name=news
   2. mailto:ir@polymetalinternational.com


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