Solidcore Resources plc announced the completion of the fifth tranche as part of the share exchange offer announced on November 23, 2023 and approved by shareholders on December 8, 2023.
As stated in the company's message, September 30, 2024 is the last day for shareholders to transfer eligible shares to the company's accounts with authorized brokers. The company's shares will be excluded from the official list of the Moscow Stock Exchange on October 15, 2024, and trading will be discontinued.
The company repurchased 9210383 shares (1.94% of outstanding shares) in exchange for new shares issued on the AIFC Exchange (AIX) in a ratio of 1:1. Since the beginning of the exchange, the company has repurchased 26134411 shares or 5.52% of outstanding shares.
As a result of the repurchase of the fifth tranche and the issue of new shares in return, the total number of voting shares of the company has not changed and amounts to 473690320 shares with a par value of $0.03, each of which grants the right to one vote. The Company owns 67749089 ordinary Treasury shares, which do not grant voting rights or economic rights. The Company intends to cancel these shares if the restrictions imposed on NSD are relaxed. Until then, these shares will be held in the company's treasury accounts and will not be reissued.
The above-mentioned total number of ordinary shares can be used by shareholders (and other persons with notification obligations) as a denominator in determining the need for notification of ownership interest or a change in ownership interest in Solidcore Resources plc.
Solidcore Resources plc (formerly Polymetal International plc) is a gold producer in Kazakhstan and combines two production assets in the country.
Polymetal closed the sale of the Russian business on March 7, 2024.
Polymetal International plc's net profit for 2023 was $528 million compared to a loss of $288 million a year earlier. Adjusted net income increased by 40% to $615 million from $440 million. Revenue increased by 8% to $3.025 billion from $2.8 billion. Of these, $893 million (30%) is accounted for by enterprises in Kazakhstan and $2.13 billion (70%) by enterprises in Russia.
