Friday, October 19, 2007

Polymetal becomes the whole owner of its BVI-domiciled subsidiary

Polymetal, the largest silver producer and one of the leading gold producers in Russia, has acquired the 100% stake in the British Virgin Islands company Polymetal Esop Ltd. The Russian company said in its statement that it increased the stake in its subsidiary on September 26.

Polymetal operates in the Khabarovsk and Krasnoyarsk territories, the Sverdlovsk, Magadan and Chita regions, and in Mongolia. Company's shares are traded on the London Stock Exchange (LSE), the Russian Trading System (RTS) and the Moscow Interbank Currency Exchange (MICEX).