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Change in the GV Gold's shareholding structure

On November 02, 2017, the GV Gold (Vysochaishy, PJSC) shareholding structure was changed — the 5.26% equity stake held by the European Bank for Reconstruction and Development (the EBRD) was bought out by the Company’s subsidiary, SAKHA Gold Mining, CJSC (Aldan business unit), ahead of the schedule. The final payment amounted to USD 39 million. In total, GV Gold paid USD 62 million.

Scheduled repurchasing of the equity stake held by the EBRD is carried out by GV Gold within the framework of the agreement signed between SAKHA Gold Mining, CJSC, GV Gold Aldan business unit and the EBRD in December 2015. The parties planned to effect a complete cessation of the Bank’s shareholding by August 31, 2018.

As at 02.11.2017, the GV Gold shareholding structure was as follows:

  • 20.36% — Sergei V. Dokuchaev, the Chairman of the Board of Directors
  • 20.36% — Natalia V. Opaleva, a member of the Board of Directors
  • 20.36% — Valerian A. Tikhonov, a member of the Board of Directors
  • 17.99% — BlackRock Funds
  • 6.37% — Brishurt Ltd
  • 5.26% — SAKHA Gold Mining, CJSC
  • 2.95% — Fayweld
  • 6.35% — Minority shareholders

Reference

GV Gold (Vysochaishy, PJSC) is an actively developing group of companies with high production efficiency level. It ranks in the Russia’s TOP 10 gold mining companies list. The Company carries out its activity in the Irkutsk Region and the Republic of Sakha (Yakutia), where its Irkutsk, Taryn and Aldan business units are located and large scale exploration operations are carried out.