Polymetal International has completed the acquisition of 100 per cent of Olymp, a Russian legal entity holding the mining and exploration licence for the Olcha gold-silver deposit.
Polymetal acquired the deposit together with all inter-company debt owed by Olymp in exchange for 775,000 ordinary shares in Polymetal.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The new shares are expected to be admitted to trading on the London Stock Exchange on January 25th 2013.
Polymetal's share price was up 3.87% to 1,100p at 13:28 on Thursday afternoon.
MF
-
Could your family be at risk of an unexpected tax bill? How to keep your loved ones in the loopMany families are out of the loop when it comes to planning the financial aspects of both retirement and inheritance
-
Rightmove: Glut of homes for sale in southern England drives asking price dropAsking prices are 0.1% lower than a year ago, according to the property website, driven by challenges in affordability-stretched London and the south
