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Prosperity, Calls

Prosperity Capital Management (“Prosperity”) is a leading Russia-focused asset manager that controls approximately 20 per cent of the outstanding share capital of Petropavlovsk PLC (“the Company”), a successful Russian gold mining company with great growth prospects.

27.07.2020 - 09:02:29

Prosperity Calls on Shareholders to VOTE TO KEEP PETROPAVLOVSK INDEPENDENT. Prosperity is calling on shareholders to preserve the Petropavlovsk Board of Directors’ independence by voting FOR its six highly qualified director candidates at the Company’s extraordinary general meeting (“the EGM”) on 10 August 2020.

1 – 6 AND VOTE AGAINST RESOLUTIONS 7, 8 AND 18 AT THE EGM

It is critical that Petropavlovsk has a diverse and independent Board to provide strong corporate governance and create shareholder value. Permanent independent directors must be added to the Board to protect the rights of all shareholders and preserve future value creation.

In order to do so, Prosperity has called the EGM to elect six highly qualified directors to add balance to the Board and protect shareholders’ interests. These candidates have been vetted by the Professional Investor Association and will bring a wealth of relevant knowledge and skill to the Company.

Adding these directors will stabilise, strengthen and improve the Board’s independence while providing continuity so that management can create value for all shareholders

Alexander Branis CFA, Chief Investment Adviser at Prosperity Capital Management, commented:

“The true ownership of Petropavlovsk is at stake. We cannot cede control of the Board to directors hand-picked by and beholden to the interests of the self-interested Everest and UGC. These concert parties are clearly trying to take over the Company by stealth. We cannot risk a repeat of the AGM where a present minority outvotes an absent majority. It is critical to the future of Petropavlovsk that shareholders vote to preserve the Company’s independence by supporting our slate of highly qualified director nominees to join the Board, and crucially voting against Resolutions 7, 8 and 18 at the EGM on 10 August. It will probably be a close call. Every vote counts!”

Prosperity urges shareholders to vote FOR Resolutions 1 - 6 and vote AGAINST Resolutions 7, 8 and 18 at the 10 August EGM.

For more information, including instructions on how to vote your shares, please visit www.Stop-Takeover-Of-POG.com.

About Prosperity Capital Management

Founded in 1996, Prosperity Capital Management is a leading Russia-focused asset manager controlling assets of around USD 4 billion on behalf of pension funds, endowments, foundations, family offices, sovereign wealth funds and high net worth individuals from across Europe, North America, Middle East and Australasia. The firm employs a long-term, fundamental value, active and engaged shareholder approach to access the public equity investment opportunity amongst Russian and Former Soviet Union companies.

@ businesswire.com