Polyus Finance PLC Announcement of results (9429K)
14 April 2018 - 3:27AM
UK Regulatory
TIDM60GT TIDMPLZL
RNS Number : 9429K
Polyus Finance PLC
13 April 2018
THIS DOCUMENT IS FOR INFORMATION PURPOSES ONLY. THIS IS NOT AN
OFFERING MEMORANDUM OR PROSPECTUS AND SHOULD NOT BE TREATED AS
OFFERING MATERIAL OF ANY SORT. NOT FOR DISTRIBUTION OR RELEASE TO
ANY U.S. PERSON OR IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT
IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.
Press Release 13 April 2018
Polyus Finance PLC
Polyus announces the conclusion of its previously announced
invitation to holders of its U.S.$250 million 1 per cent.
guaranteed convertible bonds due 2021 (ISIN: XS1759275578) (the
"Bonds") to tender up to U.S.$50 million (or 20% of the issue) in
aggregate principal amount of the Bonds for purchase. J.P. Morgan
Securities plc acted as Dealer Manager in respect of the Offer.
The Final Buyback Price is 86.7% (expressed as a percentage of
the principal amount of the Bonds). No Bonds tendered for purchase
at a purchase price above the Final Buyback Price will be accepted
for purchase pursuant to the Offer.
Eligible Holders who have submitted valid Tender Instructions
and whose Bonds are accepted for purchase (the "Tendered Bonds") in
the Offer will receive on the Settlement Date a cash consideration
equal to the Final Buyback Price.
The Company has decided to accept Bonds submitted pursuant to
valid Tender Instructions which specified a purchase price equal to
or below the Final Buyback Price in an aggregate nominal amount of
U.S.$50 million (the "Acceptance Amount") , with pro rata scaling
being applied on the terms set out below.
Bonds submitted pursuant to valid Tender Instructions which
specified a purchase price below the Final Buyback Price will be
accepted in full without any pro rata scaling.
Bonds submitted pursuant to valid Tender Instructions which
specified a purchase price equal to the Final Buyback Price will be
scaled by a factor equal to (i) the Acceptance Amount, less the
aggregate nominal amount of the Bonds that have been validly
tendered and accepted for purchase and are not subject to
acceptance on a pro rata basis (if any), divided by (ii) the
aggregate nominal amount of the Bonds that have been tendered for
purchase and are subject to acceptance on a pro rata basis.
In addition to the Final Buyback Price, the Company will pay
accrued but unpaid interest on the Bonds purchased in the Offer up
to (but excluding) the settlement date (being the date on which the
Company pays the Final Buyback Price for Bonds accepted for
purchase pursuant to the Offer), which is expected to be 18 April
2018 (the "Settlement Date").
Debevoise & Plimpton LLP is acting as legal counsel to the
Company as to English and Russian law matters in connection with
the Offer. Linklaters LLP advised the Dealer Manager as to English
and Russian law.
Polyus
The Polyus group is the largest gold producer in Russia and one
of the top 10 gold miners globally with the lowest cost position.
Based on its 2017 Ore Reserves and Mineral Resources, the Polyus
group ranks second by attributable gold reserves and gold resources
among the world's largest gold mining companies.
The Polyus group's principal operations are located in
Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic
(Yakutia).
Inside Information
This announcement contains inside information.
Enquiries
Investor contact
Victor Drozdov, Director Investor Relations
+7 (495) 641 33 77
drozdovvi@polyus.com
Media contact
Victoria Vasilyeva, Director Public Relations
+7 (495) 641 33 77
vasilevavs@polyus.com
DEALER MANAGER
J.P. Morgan Securities plc
25 Bank Street
Canary Wharf
London E14 5JP
United Kingdom
Attention: ECM Syndicate
Telephone: +44 207 134 2650
Email: Eql_LM@jpmorgan.com
Information on Dealer Manager
The Dealer Manager and its respective affiliates have provided,
from time to time, and in the future may provide, certain
commercial banking, investment banking and financial advisory
services to the Company and its affiliates, for which they have
received, and in the future will receive, customary fees. In the
future, they may also provide investment banking and financial
advisory services to the Company and its affiliates for customary
fees. At any given time, the Dealer Manager may trade the Bonds or
other securities of the Company for its own account or for the
accounts of customers, and, accordingly, may hold a long or short
position in the the Bonds or other securities of the Company, and
may tender securities as part of the Offer.
DISCLAIMER. This announcement contains important information
which should be read carefully before any decision is made with
respect to the Offer. If any Bondholder is in any doubt as to the
action it should take or is unsure of the impact of the Offer as
described in this announcement, it is recommended to seek its own
financial and legal advice, including as to any tax consequences,
from its broker, bank manager, solicitor, accountant or other
independent financial or legal adviser. Any individual or company
whose Bonds are held on its behalf by a broker, dealer, bank,
custodian, trust company or other nominee or intermediary must
contact such entity if it wishes to submit Tender Instructions in
the Offer. None of the Dealer Manager or the Company makes any
recommendation whether Bondholders should submit Tender
Instructions in the Offer. Neither this announcement nor the
electronic transmission thereof constitutes an offer to buy or the
solicitation of an offer to sell Bonds in any circumstances in
which such offer or solicitation is unlawful
This announcement does not constitute an invitation to
participate in the Offer in any jurisdiction in which, or to any
person to or from whom, it is unlawful to make such Offer or for
there to be such participation under applicable securities laws and
regulations. The distribution of this announcement in certain
jurisdictions may be restricted by laws and regulations. Persons
into whose possession this announcement comes are required by each
of the Company and the Dealer Manager to inform themselves about
and to observe any such restrictions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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