OREANDA-NEWS. On May 16, 2007 JSC Polymetal ("Polymetal") announced that during yesterday’s regularly scheduled meeting of the Company’s Board of Directors a date was selected for the Annual General Meeting [AGM], reported the press-centre of JSC Polymetal.


The AGM will be held on Monday, June 25th at Polymetal’s Saint Petersburg headquarters. The Company’s Board of Directors approved the list of the information delivered to the shareholders during the period of the preparation to the AGM and the procedure of this information delivery. Besides, the Company’s Board of Directors approved the agenda of the AGM, defined May 16th as the date of the listing for the participation at the AGM and recommended to the AGM to elect outgoing Board of Directors.


In addition to other business completed at today’s meeting, Board members also decided to recommend to the shareholders that no dividends be paid for the 2006 financial year. This decision was based on Polymetal’s financial results for the previous year and its upcoming capital expenditure programs, including: the Dukat and Vorontsovskoye expansion projects [scheduled to come into operation in IIH 2008] and the Albazino development project. Commenting on today’s Board meeting, Vitaly Nesis, Polymetal’s CEO, stated: “We eagerly look forward to our first AGM as a public company. We believe that this meeting will be an excellent opportunity for the Company to continue building a strong working relationship with its shareholders”.