Polymetal Received Mandatory Tender Offer
OREANDA-NEWS. November 28, 2011. JSC "Polymetal" (LSE, MICEX, RTS: PMTL) ("Polymetal" or the "Company") announces that (the "Receipt Date"), it has received a mandatory tender offer document to acquire up to 66,733,230 ordinary shares in Polymetal (the "Polymetal Shares") by PMTL Holding Limited ("PMTL") (the "Mandatory Tender Offer)", reported the press-centre of Polymetal.
The price in the Mandatory Tender Offer is RUB 531.15 per one Polymetal Share. Under the terms of Mandatory Tender Offer, it can be accepted during 70 calendar days from the Receipt Date (the "Acceptance Period"). The final date of the Acceptance Period (i.e. the final day on which PMTL may receive acceptances from eligible shareholders of Polymetal who seek to participate in the Mandatory Tender Offer) is therefore February 1, 2012.
Polymetal Shares for which acceptances will be received by PMTL should be received by PMTL during 15 calendar days following the expiry of the Acceptance Period. Payments for such Polymetal Shares shall be made to persons who have validly accepted the Mandatory Tender Offer within 15 calendar days following the receipt of the relevant Polymetal Shares by PMTL.
Under Russian law the Mandatory Tender Offer is subject to review by the Company's Board of Directors (the "Board") which should pass its recommendation on the Mandatory Tender Offer within 15 calendar days following the Receipt Date (being not later than 8 December 2011). The Mandatory Tender Offer document and acceptance forms will be distributed to Polymetal shareholders together with the recommendation of the Board immediately after such recommendation is passed.
The full text of the Mandatory Tender Offer document is available on the Company's web-site at http://www.polymetal.ru.
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