OREANDA-NEWS. Polymetal International plc is pleased to announce that the previously disclosed acquisition of CJSC Dundee Precious Metals Kapan ("DPMK"), the holding company for the Kapan Gold Mine ("Kapan") in the Republic of Armenia, from Dundee Precious Metals Inc. completed.

The total consideration paid for the shares in DPMK at completion comprised USD 25 million consisting of US$10 million paid in cash (subject to a post-closing working capital adjustment) and US$15 million paid through the issue of 1,481,785 new ordinary shares of the Company. The number of Consideration Shares issued was determined by dividing USD 15 million by the unweighted average closing price of ordinary shares in the Company on the Main Market of the London Stock Exchange in the five trading days ending two trading days before Completion being USD 10.12 per share. In addition, Dundee will receive a 2% NSR (Net Smelter Return) royalty on the future production from the Kapan Gold Mine capped at USD 25 million.

Аn application has been made to the London Stock Exchange and UKLA on the official list and the Consideration Shares are expected to be admitted to trading on the London Stock Exchange on 29 April 2016. Following admission, the total issued share capital of the Company will comprise 426,233,460 ordinary shares of no par value, each carrying one vote.

Further details of the transaction were provided in the press release dated 2 March 2016. Polymetal will provide further guidance on its near and long-term plans for Kapan in the second half of 2016.