Notice of Annual General Meeting of Shareholders
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Saint-Petersburg, Russia, May 13, 2008 - JSC "Polymetal" (LSE, MICEX, RTS: PMTL) ("Polymetal" or the "Company") announces that on May 12, 2008, the Company's Board of Directors (the "Board") made a decision to hold Annual General Meeting ("AGM") of Polymetal's shareholders on June 27, 2008.
According to the Board decision, AGM will begin in Polymetal's headquarters at the following address: prospect Narodnogo Opolcheniya 2, 198216, St. Petersburg, Russia, on Friday, June 27, 2008, at 10:00am Moscow time.
The Board approved the following agenda of the AGM:
1. To approve procedure of the AGM.
2. To assign functions of the counting committee to the Company's registrar - JSC "Registrator R.O.S.T."
3. To approve Russian statutory annual report and Russian Accounting Standards financial statements, including the Income statement.
4. To approve the dividend policy (the Board recommendation is not to pay out any dividends based on 2007 results).
5. To elect the members of the Board of Directors (the candidates are: Jonathan Best; Pavel Grachev, Oleg Lipatov, Alexander Mosionzhik, Vitaly Nesis, John O'Reilly, Andrey Rodionov).
6. To elect the members of the Revision Committee (the candidates are: Alexander Zarya, Denis Pavlov, Alexander Kazarinov).
7. To approve the Company's auditor (the Board recommended to appoint ZAO Deloitte Touche CIS as the auditor for 2008).
The Board has fixed May 13, 2008, as the record date for determining shareholders eligible for participating in the AGM. Registration of AGM participants will begin at the address stated above at 9:00am Moscow time on June 27, 2008.
The Board also approved the list of information to be provided to the eligible AGM participants which will be available in the Company's headquarters (room 1112) from 10am till 5pm Moscow time every day from May 26, 2008 till June 26, 2008 (except of Saturdays and Sundays).
Pavel Danilin
VP, Corporate Finance and Investor Relations
Tel. +7 812 334 3666
E-mail: danilin@polymetal.ru
Website: www.polymetal.ru
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This release includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or "should" or similar expressions or, in each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Forward-looking statements are not guarantees of future performance. Many factors that could cause the Company's actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. These forward-looking statements speak only as at the date of this release. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.