Polymetal (EGM on Sept.25) will vote on the issuance of 66.875 million shares at 278 Roubles (USD 8 and change per share) to JSC Polymetal Management, a 100 % subsidiary
and I quote
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" It is planned that the New Shares acquired by JSC "Polymetal Management" will (i) be used as consideration for the Mayskoye Transaction and (ii) to the extent not used for that purpose, will be available to be used as acquisition currency for future potential transactions"
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I wonder, could Polymetal's subsidiary be used to access the newly created Russian-Venezuelan cash to put a deal together on Las Cristinas and merge with Crystallex Venezuela to create value and Polymetal Venezuela? Would this be more acceptable to Hugo and allow final permit issuance and thus avoid arbitration?
Anyway just an idea to show that anything can be structured, even at this late stage?
Teutracker
Notice of Extraordinary General Meeting of Shareholders
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Saint-Petersburg, Russia, August 20, 2009 – JSC “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”) announces that a meeting of the Board of directors of the Company (the “Board”) held on August 19, 2009 in the form of absentee voting made a decision to hold an Extraordinary General Meeting (“EGM”) of Polymetal’s shareholders in the form of “absentee voting” on September 25, 2009.
The Board approved the form and text of the voting bulletins and set September 25, 2009 as the last date when voting bulletins shall be accepted. Completed and signed voting bulletins should be sent to the following address: OAO “Registrator R.O.S.T.”, P.O. Box 9, Stromynka Street 18/13, Moscow, 107996, Russia.
The Board approved the following agenda of the EGM:
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To approve an interested party transaction (being the placement of additional shares in the Company to JSC “Polymetal Management”).
