LSE: MOEX: AIX: GOLD: $

Vesting of the 2015 performance share plan awards

1 May 2019

Polymetal announces that 2015 share awards under the Company’s Performance Share Plan (“PSP”), part of the Company’s Long-Term Incentive Plan, have vested.

During the four-year performance period ending 29 April 2019 for the PSP awards made in 2015, Polymetal achieved a positive absolute Total Shareholder Return (“TSR”) of 56.1% and outperformed a median TSR of 34.8% of the FTSE Gold Mines Index constituents. As a result, Polymetal ranked 15th by TSR out of 42 index participants.

Accordingly, the 2015 performance share awards have partially vested with 32.1% of the total awards being granted, which includes 27.1% vesting percentage based on the TSR performance and additional share awards for the dividend equivalent paid during the 4-year performance period.

649,431 ordinary shares were issued and distributed to 263 participants of the PSP on 30 April 2019, representing 0.14% of the Company’s increased share capital. The newly issued shares have a market value of US$6.8 million, based on the closing price as of 30 April 2019.

“2019 is the second year of PSP awards vesting, and I would like to thank all Company’s employees for their contribution. Polymetal continues to deliver meaningful shareholder returns and to outperform its peers”, said Vitaly Nesis, Group CEO of Polymetal.

Performance Share Plan

Under the PSP, awards are released following a four-year performance period (with an additional mandatory holding period of one year following vesting), subject to certain performance measures being met. The vesting of awards is based on the Company’s TSR measured against the TSR of the FTSE Gold Mines Index constituents, as well as the Company’s absolute TSR over the same performance period. The vesting conditions were set as follows:

  • 0% vests for below median performance;

  • 20% vests at median performance;

  • 100% vests at top decile performance and above; and

  • Straight line vesting in between median and top decile.

  • No award vests if an absolute TSR is negative even if performance is above median.

No consideration is payable for the vesting of the awards by the beneficiaries. In certain cases of Good Leaver Circumstances, the award will usually vest as normal in accordance with the terms of the award. Alternatively, the Board may determine that the award will vest immediately. For more details on the PSP, please see Polymetal’s 2018 Annual Report and Accounts available on the Company’s website at www.polymetalinternational.com. Further to the 2015 award vesting, shares transferred to the Group CEO and Persons Discharging Managerial Responsibilities (“PDMRs”) are presented in the table below: 

Name

Position

Number of shares vested

Additional share awards for dividend equivalents

Shares granted under 2015 PSP award

Total shareholding of employee following vesting of 2015 award

Vitaly Nesis

Director

17,931

3,305

21,236

3,273,230

Vitaly Savchenko

PDMR

6,437

1,186

7,623

56,059

Sergey Trushin

PDMR

5,070

934

6,004

43,986

Roman Shestakov

PDMR

4,598

847

5,445

47,531

Pavel Danilin

PDMR

5,529

1,019

6,548

66,014

Igor Kapshuk

PDMR

3,690

680

4,370

37,260

Valery Tsyplakov

PDMR

5,959

1,098

7,057

242,722

Maxim Nazimok

PDMR

4,966

915

5,881

39,733

Further to the 2015 award vesting, outstanding awards under the PSP are:


Name

Position

Outstanding awards under 2015-2019 PSP

2015 PSP awards release

Total number of outstanding awards under the PSP

Vitaly Nesis

Director

278,232

66,166

212,066

Vitaly Savchenko

PDMR

103,687

23,752

79,935

Sergey Trushin

PDMR

82,363

18,706

63,657

Roman Shestakov

PDMR

79,333

16,966

62,367

Pavel Danilin

PDMR

87,696

20,403

67,293

Igor Kapshuk

PDMR

63,635

13,617

50,018

Valery Tsyplakov

PDMR

90,378

21,988

68,390

Maxim Nazimok

PDMR

83,893

18,323

65,570

Applications have been submitted to the London Stock Exchange and UKLA on the official list and awarded shares are expected to be admitted to trading on the London Stock Exchange on 7 May 2019. The total issued share capital of the Company will comprise 470,155,459 ordinary shares of no par value, each carrying one vote.

Back to press releases

Polymetal International plc (LSE, MOEX: POLY, AIX: POLY, ADR: AUCOY) (together with its subsidiaries — “Polymetal”, the “Company”, or the “Group”) is a top-20 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.
THIS RELEASE MAY INCLUDE STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, “FORWARD-LOOKING STATEMENTS”. THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS RELEASE. THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS “TARGETS”, “BELIEVES”, “EXPECTS”, “AIMS”, “INTENDS”, “WILL”, “MAY”, “ANTICIPATES”, “WOULD”, “COULD” OR “SHOULD” OR SIMILAR EXPRESSIONS OR, IN EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY DISCUSSION OF STRATEGIES, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS ALL INCLUDE MATTERS THAT ARE NOT HISTORICAL FACTS. BY THEIR NATURE, SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER IMPORTANT FACTORS BEYOND THE COMPANY’S CONTROL THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS REGARDING THE COMPANY’S PRESENT AND FUTURE BUSINESS STRATEGIES AND THE ENVIRONMENT IN WHICH THE COMPANY WILL OPERATE IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE. THERE ARE MANY FACTORS THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS. THE COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ANY CHANGE IN THE COMPANY’S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS ARE BASED.
Download release PDF (248 KB)
Investor Relations Contacts

Tel. +44.20.7887.1476

Eugenia Onuschenko

Tel. +7.812.313.5964

Kilill Kuznetsov
ir@polymetalinternational.com

Media Contacts

Tel. +44.20.3727.1000

Leonid Fink
Viktor Pomichal