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Petropavlovsk update on disposal

27 May 2016 15:34

Petropavlovsk announced on 29 April that it intended to sell its 49% interest in ZAO Verkhnetisskaya Ore Mining Co to an entity associated with the Yuzhuralzoloto group.

Petropavlovsk says final documentaiton has now been signed with 25% being acquired by OOO Sovrudnik, a company associated with Yuzhuralzoloto and 24% to a non-connected individual, Elena Grigorieva.

The total consideration received by the Group for the disposal remains unchanged from the US$500,000 as previously announced.

At 3:34pm: (LON:POG) Petropavlovsk PLC share price was +0.03p at 8.03p

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