REG-Polymetal International plc Polymetal International plc: Board Changes

Polymetal International PKAnnouncement

11/03/2019 07:05

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   Polymetal International plc (POLY)
   Polymetal International plc: Board Changes

   11-March-2019 / 10:04 MSK
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   Release time IMMEDIATE                                     LSE, MOEX: POLY
                / ADR: AUCOY
   Date         11 March 2019

    

    

   Polymetal International plc

   Board Changes

   Polymetal International plc is pleased to announce the appointment of  Ian
   Cockerill as Independent Non-Executive Director with effect from 23  April
   2019. Bobby Godsell and Jonathan Best have notified the Company that  they
   will not be  standing for re-election  at the upcoming  AGM. Mr  Cockerill
   will be nominated to succeed Bobby Godsell, who has served as Chair of the
   Board since 2011.

   Ian brings to Polymetal a deep  knowledge of the mining industry  acquired
   during a 40-year career at some of the sector's leading companies and  has
   substantial  relevant  directorial  experience.  He  was  responsible  for
   business development  at  AngloGold between  1996  and 1999,  joined  Gold
   Fields as Managing Director and COO in 1999, and in 2002 became CEO  until
   2008, when  he joined  AngloCoal as  CEO. In  2010-2017 Ian  was Chair  of
   Petmin Limited.

   Mr Cockerill  will  stand for  election  at the  upcoming  Annual  General
   Meeting of Polymetal to be held on 23 April 2019 (the "AGM") and,  subject
   to his election, will be replacing Bobby Godsell as Chair at the close  of
   the AGM.

   Following Mr Best's  retirement from  the board, Giacomo  Baizini will  be
   appointed as Chair of the Audit and Risk committee.

   Bobby Godsell commented:

   "I will be stepping down from my role as the Chair of Polymetal's Board at
   the 2019 AGM,  after a tenure  of almost  nine-years. I am  proud to  have
   overseen a period of substantive growth for the company, and to be leaving
   Polymetal in  a strong  position for  the new  Chair to  take it  to  even
   greater heights."

   Mr Oliveira,  Senior  Independent Director  and  Chair of  the  Nomination
   Committee commented:

   "I am delighted that we have such a qualified individual succeeding  Bobby
   as Chair  of  the Board.  In  Ian, we  have  found someone  whose  skills,
   experience and values  are closely  aligned to  both the  Company and  his
   role, and who has developed a deep understanding of the sector through his
   40-year career. He has  a depth of  directorial and management  experience
   and has  delivered  results across  a  range of  diverse  and  challenging
   jurisdictions."

   Vitaly Nesis, CEO commented:

   "Bobby's strong  support  and wise  leadership  has been  instrumental  in
   shaping the  values  and  corporate  strategy  of  Polymetal,  which  have
   successfully navigated the  Company through  the years. On  behalf of  the
   Board, the executive  management and all  our employees, I  would like  to
   sincerely thank Bobby for his enormous contribution and wish him well  for
   the future. Bobby's  contribution to  Polymetal will  undoubtedly be  felt
   long after  he  leaves  the  Company.  I would  like  to  welcome  Ian  to
   Polymetal's Board  and  look  forward  to working  with  him  as  we  take
   Polymetal into the next stage in its development.

   "I would also  like to  pay tribute  to Jonathan  Best, who  will also  be
   leaving Polymetal shortly before completing his nine-year term in  office.
   I am very  grateful for Jonathan's  leadership as Chair  of the Audit  and
   Risk Committee,  his  great  dedication, committed  efforts  and  valuable
   contribution to Polymetal's transformation into a company with the highest
   standards  of  financial  reporting.   Jonathan  has  been  an   extremely
   supportive and  knowledgeable member  of the  Board, and  will be  greatly
   missed."

   Background note

   Polymetal announced the commencement of its Board of Directors  succession
   programme in  June 2017.  Further  enhancing the  Board's core  skills  in
   finance, mining and  institutional investor engagement  while adhering  to
   international best practice in corporate governance, including the need to
   ensure progressive refreshing of the  Board, are among the key  objectives
   of the ongoing phased refresh of the Company's Non-Executive Directors.

   In December 2017, Polymetal announced  the appointment of Tracey Kerr  and
   Giacomo Baizini as Independent Non-Executive Directors with effect from  1
   January 2018. In April 2018, Ollie  Oliveira joined the Board as a  Senior
   Independent Non-Executive  Director tasked  to  lead the  Company's  Chair
   succession.

    

   Ian Cockerill

   Starting his mining career as a geologist in 1975, Mr Cockerill joined the
   Anglo American Corporation in January 1979. From 1996 to 1999 he held  the
   position  of  Executive  Director  (Business  Development)  and  Executive
   Officer (African  and International  Operations) of  AngloGold Limited,  a
   company established upon the consolidation of certain Anglo American  gold
   mining interests. In  September 1999,  he joined Gold  Fields as  Managing
   Director  and  Chief  Operating  Officer,  becoming  President  and  Chief
   Executive Officer in May 2002. In June 2008, he rejoined Anglo American as
   Chief  Executive  Officer   of  Anglo  Coal,   responsible  for  all   its
   international operations until  he retired from  the position in  December
   2009. Mr  Cockerill  is Chair  of  Conservation 360,  a  conservation  NGO
   involved with  the proposed  installation  of surveillance  technology  to
   assist with anti-poaching activities in Botswana.

   Mr Cockerill holds a  Bachelor of Science (Hons)  in Geology from  Chelsea
   College of Science and Technology, University  of London, and a Master  of
   Science in Mining-Mineral Production Management  from the Royal School  of
   Mines, London. He has also completed the Management Development Program at
   the University  of South  Africa and  the Advanced  Management Program  at
   Templeton College, Oxford University.

   There is no further information  required to be disclosed under  paragraph
   9.6.13 of the  United Kingdom  Listing Rules, except  for the  information
   below:

   Current directorships:

     • Blackrock World Mining Trust (LSE). Chair since 2016;
     • Ivanhoe Mines Ltd. (TSX). Lead Independent Director since 2011;
     • Orica Limited (ASX). Non-Executive Director since 2010;

   Previous directorships include:

     • Endeavour Mining Corp (ASX). Director (2013 to 2019).
     • Petmin Limited (delisted from the Johannesburg Stock Exchange (JSE) in
       June 2017). Executive Chair (2009 to 2015) and Chair (2015 to 2017).

   Mr Cockerill  was  also a  non-executive  director and  Vice  Chairman  of
   African Minerals Limited from  July 2013 to  December 2014. Subsequent  to
   his resignation from the board  of directors of African Minerals  Limited,
   the High  Court  in  London  appointed  joint  administrators  of  African
   Minerals on  26  March 2015  after  it failed  to  make a  scheduled  bond
   payment.

   About Polymetal  

   Polymetal International plc (LSE, MOEX:  POLY, ADR: AUCOY) (together  with
   its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-20
   global gold  producer and  top-5  global silver  producer with  assets  in
   Russia and Kazakhstan. The  Company combines strong  growth with a  robust
   dividend yield.

   Enquiries

       Media               Investor Relations
   FTI                 Polymetal              1 ir@polymetalinternational.com
   Consulting
                +44 20 Eugenia Onuschenko    +44 20 7016 9505 (UK)
   Leonid Fink  3727
                1000   Timofey Kulakov        
   Viktor
   Pomichal            Michael Vasiliev      +7 812 334 3666 (Russia)
                                        
       Joint Corporate      
       Brokers
   Morgan
   Stanley
                +44 20
   Andrew       7425
   Foster       8000

   Richard             RBC Europe Limited
   Brown
                       Tristan Lovegrove     +44 20 7653 4000
   Panmure
   Gordon              Marcus Jackson

   Charles      +44 20
   Lesser       7886
                2500
   James
   Stearns

    

   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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   ISIN:          JE00B6T5S470
   Category Code: MSCH
   TIDM:          POLY
   Sequence No.:  7760
   EQS News ID:   785785


    
   End of Announcement EQS News Service

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References

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   1. mailto:ir@polymetalinternational.com


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