Polyus News: what has changed at the gold miner

Новости «Полюса»: что изменилось у золотодобытчика

Polyus News: what has changed at the gold miner

Pole GoldPLZL12 158,00 BuyService in partnership with Tinkoff Investments. Quotes are updated every 15 minutes

"Pole" (MCX, LSE: PLZL) — the largest in Russia and one of the largest gold producers in the world. The company ranks first in the world in terms of gold reserves and has the lowest cost of production among the largest gold miners.

In the past few months, several important events have taken place at Polyus, about which we will tell in more detail.

Changes in the structure of shareholders

Until recently, the controlling shareholder of the company was entrepreneur Said Kerimov, son of businessman and senator Suleiman Kerimov. Но в апреле 2022 года он подпал под санкции ЕС. Around the same time, MKAO Wandle Holdings Limited, controlled by him, sold around 30% shares of "Polyus" of the company "Akropol Group" Akhmet Palankoev.

BUT 13 May 2022 Polyus said, that Said Kerimov ceased to be a shareholder of the company, because he donated 100% shares of MKAO Wandle Holdings Limited to the Fund for Support of Islamic Organizations. Этот некоммерческий фонд был учрежден в 2012 году Советом муфтиев России, Spiritual Board of Muslims of European Russia and Mufti Sheikh Ravil Gaynutdin. The head of the fund said, that the fund does not intend to participate in the day-to-day management of the company's business.

Polyus share capital structure

On 31 December 2021 of the yearOn 18 May 2022 of the year
Said Kerimov76,34%0%
Support Fund for Islamic Organizations0%46,35%
Ahmet Palankoev0%29,99%
Management of the company1,03%0,94%
Treasury shares0,78%0,47%
In free circulation21,85%22,25%

New head of the company

In April 2022 года у «Полюса» сменился генеральный директор: возглавлявший компанию с 2014 года Павел Грачев решил покинуть должность и сосредоточиться на развитии собственных бизнес-проектов. At the beginning 2021 года он вместе со своим коллегой по «Полюсу» Михаилом Стискиным стал владельцем крупного пакета акций «Детского мира». And in May of the same year, he established a company in the field of clean energy.

Alexey Vostokov became the new CEO of Polyus, который также работает в компании с 2014 года и до этого занимался вопросами корпоративного управления и международного сопровождения. In particular, in 2019-2020 he was the corporate secretary of the company.

Changes in the Board of Directors

In March 2022 года совет директоров компании покинули Мария Гордон, Edward Dowling, Kent Potter and William Champion. And in April, Said Kerimov also left him..

Polyus announced that, that nominated 9 candidates to the interim board of directors for approval at an extraordinary general meeting of shareholders 6 June 2022 of the year. This list includes top managers of the company and one of its beneficiaries Akhmet Palankoev. The interim board of directors will seek candidates for the role of independent directors for approval at the annual general meeting of shareholders.

What else happened

As we already wrote, многие российские компании отказались от публикации отчетов за первый квартал 2022 of the year. Polyus joined this list.: the company switched to semi-annual publication of production and financial results.

But the delisting of depository receipts from foreign exchanges "Polyus" avoided. Recall, that Russian companies are now prohibited from placing receipts for their shares on foreign exchanges. But Polyus received permission from a special government commission to keep the listing.

Eventually

At first 2022 года акции «Полюса» незначительно снизились — менее чем на 6% — and traded at the level 12 300 R for pike, while the Moscow Exchange index over the same period lost about 37%. You can say, what in 2022 году компания оправдывает звание представителя защитного сегмента.

However, the latest news significantly increases the uncertainty around the company.: investors don't know, what to expect from the new major shareholders of Polyus, What will the new CEO look like?, who will be on the new board of directors. And a more rare publication of business results will not allow you to track the company's affairs as quickly., like before.

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