MOSCOW, July 21. /TASS/. Polymetal has announced an update to the timetable of the re-domiciliation and confirmed that the effective date will be August 7, 2023.

"Further to the announcements made on 29 June 2023 and 10 July 2023, the company is pleased to report that, following positive engagement with the relevant regulatory authorities and receipt of conditional consents, where required, the effective date is scheduled for 7 August 2023," the company said in a statement on Friday.

As a result of the re-domiciliation, Polymetal's ordinary shares will cease to be compatible with electronic settlement within CREST and consequently will result in the inability of the company to meet certain basic requirements to maintain the London Listing, Polymetal said, adding that trading in the ordinary shares on the London Stock Exchange will therefore need to be suspended. Thereafter, the London listing will remain suspended until the date of the London de-listing.

The last day of trading on the London Stock Exchange is August 1, 2023. Meanwhile, the date of the London de-listing is no earlier than August 29, 2023 provided the de-listing is approved by shareholders.

Moreover, the AIX (Astana International Exchange) will suspend trading in Polymetal’s ordinary shares after market close on August 1, 2023 (Astana time), with trading to be resumed on or after the re-domiciliation effective date.

Annual General Meeting will be held on July 25, 2023 in London, Polymetal noted.

Earlier, the company’s shareholders greenlighted its re-domiciliation from Jersey to the Astana International Financial Centre (AIFC) in Kazakhstan at an extraordinary meeting. As a result of re-domiciliation Polymetal’s main listing will move from LSE to the Astana International Exchange.

Polymetal is one of the world’s ten largest gold producers and five biggest silver makers. Its assets are located in Russia and Kazakhstan. The company has a portfolio of ten producing gold and silver mines and a pipeline of future growth projects.