Polymetal completes acquisition of Maminskoye gold deposit
Polymetal International plc (LSE: POLY) (together with its subsidiaries, including JSC "Polymetal" - "Polymetal", the "Company", or the "Group") is pleased to announce that the acquisition of 100% of ZAO "Maminskaya Gornorudnaya kompania" which holds Maminskoye gold mining field exploration and mining licence was completed on 9 April 2013.
Details of the transaction were announced by the Company on 20 February 2013.
The total consideration for this acquisition comprised US$3.9 million in cash with the balance of US$73.4 million payable through the issue of 5,491,661 new ordinary shares of the Company, representing approximately 1.4 per cent. of the Company's enlarged issued share capital. The new shares are expected to be admitted to trading on the London Stock Exchange on 11 April 2013. Following the allotment, the total issued share capital of the Company will comprise 389,472,865 ordinary shares of no par value, each carrying one vote.