Further Growth Opportunities
Nezhda
Path to 100% ownership
Stage 1:
>
On 17 July 2017, Polymetal entered into binding agreement
to acquire an additional 7% for a cash consideration of US$
8M that will see its stake increase to 24.7%
Key transaction details:
>
Under the agreement, Polymetal has an option to buyout
the remaining 75.3% stake
Stage 2:
> Option to acquire the remaining 75.3% is based on the
following terms:
Option premium will comprise US$ 12M payable upfront
Polymetal to prepare initial JORC-compliant ore
reserve estimate for open-pittable reserves
Following reserve statement, Polymetal will have the right
to acquire the remaining stake for $US 100/oz of
attributable JORC reserves (equivalent to $US 75.3/oz x
total reserve ounces)
A hard-cap on the consideration of US$ 180M, but no
less than US$ 105M
Low initial investment to secure clear path to
100% ownership of Nezhda
Optionality to make a "go/no-go" decision
based on extensive exploration and a PFS
Capped consideration at US$ 180M with any
exploration upside fully attributable
Polymetal
to
Walkaway clause with no obligation to
exercise if undesired - put option to sell stake
for EUR 1 thousand
▲ POLYMETAL
INTERNATIONAL PLC
| 48View entire presentation