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RNS Number : 1140F
05 March 2020
5 March 2020
Promotion into the FTSE 250 Index
Petropavlovsk PLC (the "Company"), announces that it is set to be included in the FTSE 250 Index ("FTSE 250") from Monday 23 March 2020.
The FTSE 250 is a market capitalisation weighted stock market index which tracks the largest 250 companies listed on the London Stock Exchange outside the FTSE 100 Index. Each quarter, FTSE Russell, a wholly owned subsidiary of the London Stock Exchange Group ("LSE"), undertakes a review of the capitalisation of each LSE listed company. As part of the March 2020 review, Petropavlovsk's market capitalisation of c.GBP674 million (as at close 3 March) made it eligible for FTSE 250 inclusion. Petropavlovsk will remain a constituent of the FTSE All-Share Index.
Commenting on the Company's entry into the FTSE 250, Dr Pavel Maslovskiy, Chief Executive Officer, said:
"I am very pleased to announce that Petropavlovsk will shortly be joining the FTSE 250 Index, an authoritative measure of UK-quoted mid-cap companies. By being promoted into the index, Petropavlovsk will benefit from increased market exposure and improved liquidity.
Petropavlovsk was by far the best performing London-listed gold producer in 2019, as well as being the best performer year to date. This exceptional performance has resulted in our inclusion in the FTSE 250 and is a recognition of the considerable effort the Board, Management and our operating team have made to stabilise the business, turning the Company's operations around with considerable success."
With a Premium Listing on the London Stock Exchange, Petropavlovsk (LSE: POG) is a major integrated Russian gold producer with JORC Resources of 20.52Moz Au which include Reserves of 8.21Moz Au.
The Company's key operating mines (Pioneer, Malomir and Albyn) are in the Amur Region in the Russian Far East and the Company has produced a total of c.7.6Moz of gold since operations began in 1994. Petropavlovsk has a strong track record of mine development, expansion and asset optimisation.
The Group recently entered a new era of growth following the successful commissioning and start-up of its flagship asset, the Pressure Oxidation (POX) Hub at Pokrovskiy, which enables the processing of the Company's abundant refractory reserves and resources.
Petropavlovsk is committed to implementing international best practices across all areas of sustainable development and is one of the region's largest employers and contributors to the local economy.
For More Information
Please visit www.petropavlovsk.net or contact:
Petropavlovsk PLC +44 (0) 20 7201 8900
Patrick Pittaway / Max Zaltsman / Viktoriya TeamIR@petropavlovsk.net
Peel Hunt LLP
Ross Allister / David McKeown / Alexander
Allen +44 (0) 20 7418 8900
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor / James Asensio +44 (0) 20 7523 8000
Buchanan +44 (0) 20 7466 5000
Bobby Morse / Kelsey Traynor / Ariadna POG@buchanan.uk.com
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(END) Dow Jones Newswires
March 05, 2020 02:09 ET (07:09 GMT)