Polymetal: Business update
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Thursday, June 23, 2022
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Polymetal provides an update on its business, including the current impact of sanctions against Russia.
Key Points:
- Polymetal provides an update on its business, including the current impact of sanctions against Russia.
- Since the previous update, Japan joined western countries and imposed additional sanctions against Russia prohibiting exports of industrial goods and technologies.
- The Board and the management continuously evaluate stability, liquidity and solvency of the business in light of multiple external uncertainties.
- The Board and the management strongly believe that share buy-backs are presently inappropriate given short-term liquidity challenges, grave business uncertainties, and NSD challenges outlined above.