 | Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here! |
(Kitco News) - Russia's Polymetal, a senior global silver and gold producer, said today that the company will not meet the scheduled timetable of the re-domiciliation to the Astana International Financial Centre (AIFC) in Kazakhstan.
As announced by the company and pursuant to the shareholder circular published on 10 May 2023, the Board sought approval of the shareholders to re-domicile the company from Jersey to the AIFC in Kazakhstan. The requisite resolutions were passed at the general meeting on 30 May 2023.
"Whilst the company continues to pursue fulfilment of the remaining conditions required to implement the re-domiciliation, it acknowledges that it will now not meet the scheduled timetable as a result of delays in anticipated processes on which the re-domiciliation is contingent," Polymetal said in a press release.
Importantly, the company noted it confirms that the re-domiciliation will not occur prior to the week commencing 31 July 2023, at the earliest.
"The re-domiciliation is subject to the satisfaction of certain conditions and will proceed provided the Board can be assured at all times of continuing compliance with all applicable sanctions,' it added.
Polymetal International plc is a top-10 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The company has a portfolio of ten producing gold and silver mines and a pipeline of future growth projects.
|
| Imerys, British Lithium announce JV to create the UK's first integrated producer of battery-grade lithium carbonate |
