OREANDA-NEWS. August 22, 2011. Jenington International Inc. (“Jenington”) announces that the Private Exchange Offer, which was announced on 29 July 2011, closed for acceptances at 5.00 p.m. (New York City time) on 15 August 2011, reported the press-centre of Polyus Gold.

As of the closing time, valid acceptances had been received in respect of 4,000,823 Polyus ADSs representing approximately 1.05 per cent of the total issued share capital of OJSC Polyus Gold (“Polyus Gold"). 

Jenington has also agreed to acquire 4,945,201 Polyus ADSs, representing approximately 1.3 per cent of the total issued share capital of Polyus Gold, in privately negotiated transactions outside the Private Exchange Offer at an average purchase price of approximately 29.39 USD per one ADS.
 
Following completion of the Private Exchange Offer and the privately negotiated transactions, the aggregate number of Polyus Gold shares and ADSs held by Polyus Gold International Limited and Jenington will increase to approximately 91.5 per cent of the total issued share capital of Polyus Gold.  Jenington and its affiliates may continue to acquire Polyus ADSs through open market purchases, exchange transactions or otherwise.
 
Terms used in this announcement and not otherwise defined herein shall have the meanings given to them in the Private Exchange Offer Document from Jenington, which was made available on the dedicated web-site at www.jeningtonpeo.com.
 
Commenting on the closing of the Private Exchange Offer, Evgeny I. Ivanov, Executive Director of Polyus Gold International Limited, said, “We are grateful for the substantial support we have received from Polyus Gold's ADS Holders in the Private Exchange Offer, which further confirms the rationale of the Proposed Combination and shareholders’ interest in participating in the future of Polyus Gold International Limited.”