On April 27, 2006 the Federal Securities Markets Service of Russia has registered the decision on securities issue, securities prospectus and report on the results of the securities issue of OJSC Polyus Gold (OAO Polyus Gold), created as a result of spin-off of MMC Norilsk Nickel?s gold assets.
Polyus Gold has issued 190 627 747 ordinary shares with a nominal value of 1 ruble each. The share issue was assigned state registration number 1-01-55192-E.
On March 17, 2006, in accordance with Russian Federal Law ?About state registration of legal entities?, Norilsk Nickel?s reorganization in the form of spin-off was recorded in the Unified State Register and OJSC ?Polyus Gold? was included into the Register as a new legal entity created by the spin-off. On the formation date of OJSC ?Polyus Gold? the company?s shares were distributed, on a pro rata basis, among Norilsk Nickel?s shareholders listed in the register as of January 1, 2006.
Commenting on the registration General Director of OJSC Polyus Gold Evgueni Ivanov said:
?We have almost completed the transformation of Russia?s largest gold producer into a new ?blue chip? of the Russian stock market. I am pleased to congratulate all the shareholders of Polyus Gold who now will enjoy their full shareholders? rights?.More detailed information on reorganization in the form of spin-off can be found:
http://www.nornik.ru/en/shareholders/goldseparation/he next steps for the spin-off of gold assets:
· May, 2006: Polyus Gold will apply for listing at one or several Russian stock exchanges.
· May-June, 2006: Registration of Level 1 ADR programme for the shares of Polyus Gold if all necessary permits are obtained. Foreign investors will receive Polyus Gold?s ADS.