Polymetal increases its share in Tarutino copper to 50%

Polymetal Int has acquired additional 25% from Gerosena Trading Ltd - the owner of the remaining shares in the company Vostochny Basis, increased its participation in the project of the Tarutino copper deposit development to 50%, Polymetal reports.

Fee for the acquisition of the share is $14.2 million, which Polymetal will pay with its new shares in the amount of 1.747 million units (0.41% of the enlarged share capital). It is expected that the new shares will be admitted to trading on March 18. As a result of the additional share issue, the share capital of Polymetal increased to 422 566 635 shares.