OREANDA-NEWS. October 27, 2009. Further to the announcement by JSC “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”) on April 29, 2009 in relation to acquisition of a 9% equity stake in OOO "Zolotorudnaya Kompaniya Mayskoye" (“ZK Mayskoye”), Polymetal announced that it has received approval of the State Commission for Supervision over Foreign Investments in the Russian Federation to acquire the remaining 91% stake in ZK Mayskoye (the “Transaction”), reported the press-centre of Polymetal.

The Company also needs to get the  Federal Antimonopoly Service of the Russian Federation approval to complete the Transaction. “We are very pleased to have received this approval within a relatively short period of time”, said Vitaly Nesis, CEO of Polymetal. “Besides that, this decision demonstrates Russia’s stable and predictable regulatory regime and also the fact that recent changes in the subsoil law do not negatively impact the Company’s business”.