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Three New Independent Directors Joined the Board of GV Gold

GV Gold (Vysochaishy, PJSC), together with its subsidiaries (hereinafter referred to as “GV Gold” or the “Company”), one of the largest and fastest-growing gold miners of Russia, announces the approval of updated composition of the Board of Directors at the Extraordinary Shareholders Meeting which took place on 19 March 2021.

The Board was expanded to 8 members. Three new independent non-executive directors joined the Board – Sergey G. Popov, Lou Naumovski and Alexey D. Gnedovskiy. Sergey V. Dokuchaev was re-elected the Chairman. Updated composition of the Board is as follows:

·         Sergey V. Dokuchaev – Chairman of the Board of Directors;

·         Valerian A. Tikhonov – Member of the Board of Directors;

·         Natalia V. Opaleva – Member of the Board of Directors, Member of the Board of Directors Audit Committee, Member of the Board of Directors Staffing and Remuneration Committee;

·         German R. Pikhoya – Member of the Board of Directors;

·         Nikolay V. Gavrilov – Independent Director;

·         Sergey G. Popov – Independent Director, Chairman of the Board of Directors Audit Committee, Member of the Board of Directors Staffing and Remuneration Committee;

·         Lou Naumovski — Independent Director, Member of the Board of Directors Audit Committee, Member of the Board of Directors Staffing and Remuneration Committee;

·         Alexey D. Gnedovskiy — Independent Director, Member of the Board of Directors Audit Committee, Chairman of the Board of Directors Staffing and Remuneration Committee.

Consequently, the Board of Directors now consists of eight members. A half of the Board is represented with independent directors with extensive track record in metallurgy, mining and finance.

Besides, on 18 March 2021, the Board made a decision on establishment of the Staffing and Remuneration Committee and approved the Regulations on the Corporate Secretary, the Regulations on the Insider Information and amendments to the Regulations on the Audit Committee.

In accordance with the best corporate governance practice, the committees will be chaired by independent directors. On 19 March 2021, the Board appointed Alexey D. Gnedovsky the Chairman of the Staffing and Remuneration Committee and Sergey G. Popov the Chairman of the Audit Committee.

Mr. Alexey Gnedovskiy is expected to be confirmed as an Independent Director of GV Gold at the Extraordinary General Meeting of Shareholders scheduled for 19 March 2021. From 1995, Mr. Gnedovskiy has been a co-owner and the CEO of LLC IC Veles Capital. He also holds a number of key management positions in LLC Veles Management, LLC Veles Trust, Veles International Limited. Since 2019, Mr. Gnedovskiy has been a member of the Board of Directors of the National Association of Securities Market Participants. He graduated from the Lomonosov Moscow State University with a degree in Economic Cybernetics in 1991. In 2018, he completed an MBA programme of the Moscow School of Management Skolkovo.

From January 2017, Mr. Lou Naumovski has been a non-executive director of Trans-Siberian Gold PLC, member of the Board of Directors of Canadian Executive Services Organisation, the adviser in Seequent Limited, the adviser to BRP Europe Nv. He also has been an adviser of the board in Canada Eurasia Russia Business Association (CERBA) since June 2011 and a member of the board of experts since 2017. From June 2018 to January 2020, he was an adviser to McCain Foods Limited. Since March 2019, he was an adviser of the World Gold Council. Mr. Naumovski also was a non-executive director of Amur Minerals Corporation from 2017 to 2020, a non-executive director of Euromax Resources from 2017 to 2019 and an adviser of Kinross Gold Corporation from January 2017 to December 2017. From September 2007 to January 2017, he was a vice president and then the general director of Kinross Gold Corporation (Moscow office). From November 2005 to August 2007, he was a head of business strategy and planning of Visa International Service Association (Central Europe, Middle East and Africa). Mr. Naumovski also held various non-executive positions in a number of other companies. Lou Naumovski graduated from the University of Toronto with a degree in Political Science in 1978 and from the Carleton University with a degree in International Affairs in 1980. He also has MBA from the Georgia Institute of Technology in 1985 and completed management courses in the London Business School and the Schulich School of Business.Resolution on recognition of Lou Naumovski an independent nominee to the Board of Directors of GV Gold. Mr. Naumovski signed the Declaration of the Member of the Board of Directors Recognized Independent drafted in form recommended by Moscow Exchange.  

From 2012 to 2020, Mr. Sergey Popov was a member of the Board of Directors, a member of the Board of Directors at the Strategy and Investments Committee of the Company (as a part of the Board of Directors membership), the Chairman of the Board of Directors at Audit Committee of the Company (as a part of the Board of Directors membership). From 2018 to March 2021 Mr. Popov was Director at LLC Slavkaliy. From 2012 to 2018, he was the Deputy Chairman for Finance and a member of the Board of Directors at LLC Slavkaliy. Prior to that, in 2011, Mr. Popov was a managing director at CJSC Troika Dialog Investment Company. Mr. Popov graduated from the Lomonosov Moscow State University in 1980 with a degree in Economy.Resolution on recognition of Sergey G. Popov an independent nominee to the Board of Directors of GV Gold. Mr. Popov signed the Declaration of the Member of the Board of Directors Recognized Independent drafted in form recommended by Moscow Exchange. 

Contacts

Investor Relations Press Office

Elena Romanova

Investor Relations Director

+ 7 495 780 4995


romanova.ev@gvgold.ru    

Tatiana Demyanova

Deputy CEO for Public Relations and Corporate Communications 

Director of the GV Gold’s Moscow Representative Office

+ 7 495 780 4995

dtv@gvgold.ru

Forward-Looking Statements

This release may contain “forward-looking statements” regarding GV Gold (Vysochaishy, PJSC) and (or) its subsidiaries. The words “will”, “can”, “must”, “should”, “will continue”, “possibility”, “believes”, “expects”, “intends”, “plans”, “estimates” and other similar phrases are largely indicators of forward-looking statements. Forward-looking statements contain elements of risk and uncertainty, as a result of which actual results can differ dramatically from the figures listed in the forward-looking statements. Forward-looking statements contain statements regarding future capital expenditures, strategies for business operations and management, as well as development and expansion of GV Gold (Vysochaishy, PJSC) and (or) its subsidiaries. Many of those risks and uncertainties pertain to factors that cannot be controlled or quantified by GV Gold (Vysochaishy, PJSC) and (or) its subsidiaries, so the content of the statements should not be treated as definitive because it is provided strictly as at the date of the statement. GV Gold (Vysochaishy, PJSC) and (or) any of its subsidiaries does not make any commitment and does not plan to provide updates to the forward-looking statements, except where required by applicable law.