Petropavlovsk PLC Requisition Update (6015O)
18 May 2018 - 9:54PM
UK Regulatory
TIDMPOG
RNS Number : 6015O
Petropavlovsk PLC
18 May 2018
18 May 2018
Petropavlovsk
Requisition Update
The Board of Petropavlovsk PLC's ("Petropavlovsk", "the Company"
or "the Group") announces that Mr Kenges Rakishev, the beneficial
owner of the Company's largest shareholder Fincraft, has given
notice that it is his current intention to direct that Fincraft
votes in favour of the resolutions in the requisition notice issued
by CABS Platform Limited and Slevin Ltd (other than the resolution
proposing to remove Mr Bektas Mukazhanov as a director).
Commenting on this development, Ian Ashby, Chairman, said:
"The Board is currently considering its options in light of this
recent development. We remain open to dialogue with all of our
shareholders, including Mr. Rakishev and the requisitioning
holders, who have not provided details on the beneficial owners
each nominee is representing. The Board remains committed to act in
the best interests of all stakeholders."
Enquiries
For more information, please visit www.petropavlovsk.net and
www.ircgroup.com.hk or contact:
Petropavlovsk PLC Buchanan
Alya Samokhvalova Bobby Morse
Grace Hanratty Anna Michniewicz
+44 (0) 20 7201 8900 +44 (0) 207 466 5000
TeamIR@petropavlovsk.net POG@buchanan.uk.com
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Cautionary note on forward-looking statements
This release may include statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "estimates", "plans",
"projects", "anticipates", "expects", "intends", "may", "will" or
"should" or, in each case, their negative or other variations or
comparable terminology, or by discussions of strategy, plans,
objectives, goals, future events or intentions. These forward-
looking statements include all matters that are not historical
facts. They appear in a number of places throughout this release
and include, but are not limited to, statements regarding the
Group's intentions, beliefs or current expectations concerning,
among other things, the future price of gold, the Group's results
of operations, financial position, liquidity, prospects, growth,
estimation of mineral reserves and resources and strategies, and
exchange rates and the expectations of the industry.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances
outside the control of the Group. Forward-looking statements are
not guarantees of future performance and the development of the
markets and the industry in which the Group operates may differ
materially from those described in, or suggested by, any forward-
looking statements contained in this release. In addition, even if
the development of the markets and the industry in which the Group
operates are consistent with the forward looking statements
contained in this release, those developments may not be indicative
of developments in subsequent periods. A number of factors could
cause results and/or developments to differ materially from those
expressed or implied by the forward-looking statements including,
without limitation, general economic and business conditions,
demand, supply and prices for gold and other long-term commodity
price assumptions (and their effect on the timing and feasibility
of future projects and developments), trends in the gold mining
industry and conditions of the international gold markets,
competition, actions and activities of governmental authorities
(including changes in laws, regulations or taxation), currency
fluctuations (including as between the US Dollar and Rouble), the
Group's ability to recover its reserves or develop new reserves,
changes in its business strategy, any litigation, and political and
economic uncertainty. Except as required by applicable law, rule or
regulation (including the Listing and Disclosure Guidance and
Transparency Rules), the Group does not undertake any obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Past performance cannot be relied on as a guide to future
performance. The content of websites referred to in this
announcement does not form part of this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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May 18, 2018 07:54 ET (11:54 GMT)
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