4 May 2018
Polymetal International plc (LSE, MOEX: POLY; ADR: AUCOY) (together with its subsidiaries – “Polymetal”, the “Company”, or the “Group”) is pleased to announce that the sale of its 50% interest in the Dolinnoye gold property to JSC AK Altynalmas (“Altynalmas”) has been completed.
As previously announced on March 14, 2018, Polymetal and Dolphinflip entered into a binding agreement with Altynalmas for the transfer of their respective 50% interests in the Dolinnoye gold property for a total cash consideration of US$ 33.5 million, subject to working capital adjustments.
With the receipt of all regulatory approvals, this transaction has been successfully completed and 100% interest in the Dolinnoye gold property transferred to Altynalmas. The net consideration received by Polymetal for its 50% stake, including working capital adjustments before tax, amounted to US$ 16.7 million in cash.