OREANDA-NEWS. September 30, 2009. JSC “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”) announced that the Extraordinary General Meeting of Shareholders of the Company (“EGM”) approved (in the form of absentee voting) the placement in the way of a closed subscription of ordinary shares to Joint Stock Company “Polymetal Management” (JSC “Polymetal Management”). This is an interested party transaction under the Russian Law, reported the press-centre of Polymetal.

The Transaction Parties (beneficiaries) are JSC “Polymetal” and JSC “Polymetal Management”. The shares will be placed at a price of 278 (two hundred seventy eight) Russian roubles per share. The monetary value of the placement to JSC “Polymetal Management” (the maximum transaction value) will not exceed 18 591 250 000 (eighteen billion five hundred ninety one million two hundred fifty thousand) Russian roubles.

The placement of no more than 66,875,000 of new shares to JSC “Polymetal Management” was approved by the Extraordinary General Meeting of Company’s shareholders on June 19, 2009 (protocol №3/2009 as at June 24, 2009).