27 May 2016

Disposal of Non-Core Assets

On 29 April 2016 Petropavlovsk PLC ("the Company" or, together with its subsidiaries, "the Group") made an announcement regarding the Disposal of Non-Core Assets. In the announcement, the Company said that it intends to dispose of its' 49% interest in ZAO "Verkhnetisskaya Ore Mining Company" ("Verkhnetisskaya") to an entity associated with the Yuzhuralzoloto group.

Final documentation has now been signed in respect of the 49% sale of Verkhnetisskaya with 25% being acquired by OOO "Sovrudnik", a company associated with Yuzhuralzoloto and 24% to a non-connected individual, Elena Grigorieva. The total consideration received by the Group for the disposal remains unchanged from the US$500,000 as previously announced. 

Enquiries

Petropavlovsk PLC                                                                                     

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