Prosperity Capital Comments Regarding PwC’s Inability to Accept Appointment as Petropavlovsk’s Auditor Due to Destabilizing Actions of Concert Parties Led by UGC and Everest Alliance
The independence and quality of the Company’s Board of Directors and management have been materially weakened and the Company has already begun to feel the ramifications of these self-serving and insidious actions by the concert parties - UGC, Everest and other shareholders. An independent board is critical to maintaining the Company’s Premium Listing.
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. These candidates have been vetted by the Professional Investor Association and will bring a wealth of relevant knowledge, skill and balance to the Company.
The election of Prosperity’s slate of director nominees to the Company’s Board of Directors at the EGM will stabilise, strengthen and improve the Board of Directors’ independence, whilst providing continuity so that management can create value for all shareholders.
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.