OREANDA-NEWS. On October 21, 2008 OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia's leading gold producer,  announced that CJSC Polyus, its wholly-owned subsidiary, had consolidated 100% of OJSC Matrosov Mine's shares, which was made within a squeeze-out offer made to OJSC Matrosov Mine. Matrosov Mine is the license-holder of Natalka gold deposit in Magadan region, reported the press-centre of Polyus Gold.

In July 2008 CJSC Polyus made a squeeze-out offer to the shareholders of OJSC Matrosov Mine, aimed at buying out all ordinary and preference shares of OJSC Matrosov Mine. The offer was made basing on Clause 7 of the Federal Law No7-FЗ dated 5.01.2006 ' On the Introduction of Amendments to the Federal Law "On Joint-Stock Companies" and Certain Other Legislative Acts of the Russian Federation, as well as on Clause 84.8 of the Federal Law dated 26.12.1995 No 208-FL 'On Joint-Stock Companies'.

According to the squeeze out offer, CJSC Polyus bought out all OJSC Matrosov Mine ordinary and preference nominal uncertificated shares from its shareholders at the following prices:

RUR 56,396.83 per each ordinary share;

RUR 4.19 per each type A preferred share.

The buy out price was determined basing on the valuation of an independent appraiser LLC "Rosexpertiza" and was confirmed by the opinion of the self-regulatory assessment organization non-commercial partnership "Self-regulatory organization of the Russian assessment masters association".