KazakhGold completed reverse take-over of Polyus Zoloto
Golden ingots. ©RIA Novosti
KazakhGold Group Limited received 89.14 percent of Polyus Zoloto by reverse take-over, KazTAG reports citing the message of KazakhGold. “KazakhGold Group Limited is happy to announce thee completion of the reverse take-over of Polyus Zoloto that was announced on June 17, 2011. As a result of the take over KazakhGold obtained common shares of Polyus Zoloto and American depositary receipts: the total of 89.14 percent of issued stock capital of Polyus Zoloto. As a result of the reverse take-over the share capital of KazakhGold is 3,032,149,962 common shares with nominal cost of 0.0001 pounds per share,” the press-release writes. KazakhGold also announces admittance of 2,985,049,962 global depository receipts (GDR), where one GDR represents a common share of the company, into Great Britain’s listing agency, as well as official listing of the London Stock Exchange. Currently 1,942,067,953 company shares are issued in the form of GDR. July 17, 2011 KazakhGold’s Board approved KazakhGold Group Limited changing its name to Polyus Gold International Limited. KazakhGold owns Aksu, Bestobe and Zholymbet, South Karaultyube and Kyzylsorskoye gold deposits in North Kazakhstan, as well as several deposits in East Kazakhstan. The company’s gold reserves are evaluated at 59.6 million troy ounces.