Fortiana Holdings Limited Fortiana acquires 4.6% stake in Petropavlovsk (0908R)
24 Octubre 2019 - 12:03PM
UK Regulatory
TIDMPOG
RNS Number : 0908R
Fortiana Holdings Limited
24 October 2019
Vladislav Sviblov's Fortiana Holdings acquires 4.6% stake in
Petropavlovsk
24 October 2019. Fortiana Holdings limited, the beneficial
ownership of which is exercised by entities owned by Vladislav
Sviblov, announces the acquisition of a 4.6% stake in the share
capital of Petropavlovsk PLC (LSE: POG), the fifth-largest gold
producer in Russia. Fortiana acquired a stake on the OTC market.
The transaction is being disclosed in accordance with regulatory
requirements.
Vladislav Sviblov, the majority shareholder of Fortiana
Holdings, said:
"The acquisition of a stake in Petropavlovsk is a financial
investment in an undervalued asset with high growth potential in
the fundamentally attractive gold market, made by the investor with
strategic interests in the Russian metals and mining sector.
Petropavlovsk has gone through a successful period of
transformation and an extensive capex cycle, and has completed
several strategic projects and embarked on a new path of
sustainable growth.
"At the end of last year, Petropavlovsk launched a flagship
project not only for the company itself but for the industry as a
whole: the highest capacity autoclave hydrometallurgical plant in
Russia for processing refractory gold ores in the Amur Region. This
makes it possible to process refractory ores, which account for
about 60% of the company's extensive resource base.
"We welcome the changes that have taken place in the company and
its opportunities for future growth, as demonstrated by the
significant growth in its market capitalisation since the beginning
of the year."
Vladislav Sviblov is the Chairman of the Board of Directors and
majority shareholder of Ozernoe Mining Company, which develops
Ozernoe polymetallic deposit in the Buryatia region of eastern
Siberia, Russia. (www.oz-mine.com). Vladislav Sviblov is also a
founder of Ecopolis Corporation - Moscow's leading industrial and
household recycling company (www.ecopoliscorp.com).
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END
ACQBRBDGGGDBGCS
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October 24, 2019 13:03 ET (17:03 GMT)
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