TIDMHGM
RNS Number : 8197C
Highland Gold Mining Limited
21 October 2020
HIGHLAND GOLD MINING LIMITED
21 October 2020
Directorate Changes
Highland Gold Mining Limited ("Highland Gold" or the "Company",
AIM: HGM) is pleased to announce the appointment with immediate
effect of Vladislav Sviblov as Chairman of the Board of Directors
and Stanislav Luchitskiy and Anton Glazunov as Non-Executive
Directors.
Highland Gold also announces the departure of three directors -
Executive Chairman Eugene Shvidler and Non-Executive Directors
Valery Oyf and Olga Pokrovskaya - with immediate effect. The Board
and management would like to put on record their thanks to all
three for their years of dedication, insight, and stewardship
during a period of unprecedented growth and success for the
Company. Since they joined Highland Gold in 2008, the Company began
operations at its Novoshirokinskoye ("Novo") and Belaya Gora mines,
acquired Valunisty, initiated construction at Kekura, and invested
in exploration and development at Taseevskoye, Klen, Unkurtash,
Lyubov, Sredny Golgotay and Blagodatnoye. During that time, annual
production nearly doubled, mineral resources increased by almost
70%, ore reserves grew by 600%, and annual revenue rose by 250% to
US$395 million last year.
Incoming Chairman Vladislav Sbiblov is the sole beneficiary of
Fortiana Holdings Limited, the largest shareholder in Highland Gold
since it completed the acquisition of a 40% stake last month. Mr
Sviblov is the CEO of Ozernaya Mining Company, a developer of
several mining assets including the Ozernoye polymetallic deposit,
and also the Chairman and majority shareholder of Ecopolis
Corporation, the Russian market leader in recycling and utilization
of electronic equipment. He has been investing in mining projects
in Russia, Kazakhstan and South America since 2017, following a
successful 16-year career at two of Russia's largest property
developers - Rosbuilding and PIK Group. Vladislav is a 2002
graduate of the Moscow State University of Economics, Statistics
and Informatics with a degree in finance and credit, and earned a
PhD in economics in 2006.
Stanislav Luchitskiy is Deputy CEO of Ozernaya Mining Company,
which he joined in December 2019. Prior to that, Mr Luchitskiy had
a 23-year career at major Russian metals and mining company MMC
Norilsk Nickel. At NorNickel, he held a variety of leadership posts
including CEO of Arctic Palladium and construction manager for the
massive Bystrinskoye copper, gold and iron deposit, which is a
short drive from Highland Gold's Novo mine. Stanislav graduated
with honors from Norilsk Industrial Institute, majoring in
non-ferrous metals metallurgy.
Anton Glazunov currently serves as Deputy CEO for Strategy and
Development of Ozernaya Mining Company, which he joined in 2018. He
previously worked as an investment manager and project director at
private equity fund CFC Management and as an investment manager at
Auriant Mining AB, a Russia-focused gold producer. Anton is a
graduate of the Moscow-based Higher School of Economics with a BSc
in economics.
Mr Sviblov will fill Mr Oyf's seat on the Board's Remuneration
& Nominations Committee, Mr Luchitskiy will join the Health,
Safety and Environment Committee in place of Ms Pokrovskaya, and Mr
Glazunov will fill Ms Pokrovskaya's seat on the Audit & Risk
Committee.
The Directors welcome Vladislav, Stanislav and Anton to the
Board and look forward to working with them as the Company enters a
new phase in its development.
FOR FURTHER INFORMATION PLEASE CONTACT:
Highland Gold Mining Ltd. John Mann, Head of Communications
+ 7 495 424 95 21
Duncan Baxter, Non-Executive Director
+ 44 (0) 1534 507 152
Numis Securities Limited Stuart Skinner, Louis McKeeve
(Nominated Adviser and Joint +44 (0) 207 260 1000
Broker)
BMO Capital Markets Limited Tom Rider, Pascal Lussier Duquette, Neil
(Joint Broker) Elliot
+44 (0) 207 236 1010
Peat & Co Charlie Peat
(Joint Broker) +44 (0) 207 104 2334
***
Vladislav Vladimirovich Sviblov (aged 40) has confirmed that
other than the information disclosed below, there is no other
information required to be disclosed pursuant to Schedule 2
paragraph (g) of the AIM Rules.
Current directorships: Ozernaya Mining Company LLC, Ozernaya
Mining Company JSC, Ozernoe LLC, Nazarovskoye Deposit LLC,
Talinskoe LLC, Ozerninskaya Ore Field LLC, Ecopolis Corporation
JSC.
Previous directorships held in the last 5 years: Ermakovskoe
LLC, InvestEvroCompany LLC, PIK Group PJSC, OAO Donskoy Factory of
Radiocomponents.
Shareholding in the Company: 145,759,871 shares (40.06%) via
Fortiana Holdings Limited
Stanislav Lvovich Luchitskiy (aged 44) has confirmed that other
than the information disclosed below, there is no other information
required to be disclosed pursuant to Schedule 2 paragraph (g) of
the AIM Rules.
Current directorships: Ozernaya Mining Company JSC and GeoTech
Innovation LLC
Previous directorships held in the last 5 years: Arctic
Palladium LLC
Shareholding in the Company: None
Anton Vladimirovich Glazunov (aged 29) has confirmed that other
than the information disclosed below, there is no other information
required to be disclosed pursuant to Schedule 2 paragraph (g) of
the AIM Rules.
Current directorships: Ozernaya Mining Company JSC
Previous directorships held in the last 5 years: Ozernaya Mining
Company LLC, Nagora Holding LLC, Nagora Shakhstroy LLC, Nagora
Mining LLC, NPO Cargo Technologies LLC
Shareholding in the Company: None
Publication on a website
In accordance with Rule 26.1 of the City Code on Takeovers and
Mergers, a copy of this announcement will be published on Highland
Gold's website ( https://www.highlandgold.com/home/offer ) by no
later than 12 noon on the business day following this announcement.
The content of the website referred to in this announcement is not
incorporated into and does not form part of this announcement.
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END
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