Polymetal announced that the results of the Extraordinary General Meeting of Shareholders of the Company that was held recently in the form of absentee voting.
Agenda of the EGM was as follows:
1. To approve the amended Charter of the Company.
2. To approve the Management Board Regulations of the Company.
3. To approve interrelated interested party transactions - surety agreements between Polymetal acting as a Guarantor and Open Joint Stock Company NOMOS BANK acting as a Creditor by virtue of which the Guarantor undertakes to the Creditor to secure obligations of Polymetal Trading Limited under the ECA covered loan agreements described in the Company’s press-release dated July 9, 2009.
4. To approve a group of interrelated transactions, namely Corporate Guarantee, Equitable Share Mortgage, Loan Agreement, Deed of Assignment and Amendment and Restatement Agreement between JSC Varvarinskoye as a borrower and bank syndicate as a creditor, by virtue of which the Company undertakes to the creditor subject to restructuring of current debt and hedging obligations of JSC Varvarinskoye to secure obligations of JSC Varvarinskoye and to provide a purpose loan to JSC Varvarinskoye in order to allow JSC Varvarinskoye to meet its working capital requirements. Transactions indicated in this paragraph shall be considered as interested party transactions after the proposed acquisition by the Company of the 100% interest in Three K Exploration and Mining Limited which owns 100% of the shares in JSC Varvarinskoye.
