Company Announcements

Polymetal: Polymetal exchanges its Chaarat convertible notes into equity

Source: EQS
<html xmlns="http://www.w3.org/1999/xhtml"><body><table border="0" cellpadding="0" cellspacing="0"><tr><td> <p><org value="LSE:POLY" idsrc="xmltag.org" >Polymetal International plc</org> (POLY)<br/> Polymetal: Polymetal exchanges its Chaarat convertible notes into equity <br/><br/><span><chron>30-Jul-2019</chron> / <chron>09:00 MSK</chron></span><br/> Dissemination of a Regulatory Announcement, transmitted by EQS Group.<br/> The issuer is solely responsible for the content of this announcement.<br/><br/></p> <hr/><div><div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse"><tbody><tr><td style="padding:2.85pt; vertical-align:middle"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; font-weight:bold; color:#404040">Release time</span></p> </td> <td style="padding:2.85pt; vertical-align:middle"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">IMMEDIATE</span><span style="font-family:Arial; font-size:10pt; color:#404040"> </span><span style="font-family:Arial; font-size:10pt; color:#404040">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-family:Arial; color:#404040">LSE, MOEX</span><span style="font-family:Arial; color:#404040">, AIX</span><span style="font-family:Arial; color:#404040">: POLY / ADR: AUCOY</span></p> </td> </tr><tr><td style="padding:2.85pt; vertical-align:middle"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; font-weight:bold; color:#404040">Date</span></p> </td> <td style="padding:2.85pt; vertical-align:middle"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">30</span><span style="font-family:Arial; color:#404040"> </span><span style="font-family:Arial; color:#404040">July</span><span style="font-family:Arial; color:#404040"> </span><span style="font-family:Arial; color:#404040">201</span><span style="font-family:Arial; color:#404040">9</span></p> </td> </tr></tbody></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><span style="font-family:Arial; color:#333333">&#160;</span></p> <h2 style="margin-top:0pt; margin-bottom:0pt; page-break-inside:avoid; page-break-after:avoid; font-size:14pt"><span style="font-family:Arial; color:#333333">&#160;</span></h2> <h2 style="margin-top:0pt; margin-bottom:0pt; page-break-inside:avoid; page-break-after:avoid"><span style="font-family:Arial; color:#333333"><org value="LSE:POLY" idsrc="xmltag.org" >Polymetal International plc</org></span></h2> <h2 style="margin-top:0pt; margin-bottom:0pt; page-break-inside:avoid; page-break-after:avoid; font-size:14pt"><span style="font-family:Arial; font-weight:normal; color:#333333">Polymetal</span><span style="font-family:Arial; font-weight:normal; color:#333333"> </span><span style="font-family:Arial; font-weight:normal; color:#333333">exchanges </span><span style="font-family:Arial; font-weight:normal; color:#333333">its </span><span style="font-family:Arial; font-weight:normal; color:#333333">Chaarat</span><span style="font-family:Arial; font-weight:normal; color:#333333"> convertible </span><span style="font-family:Arial; font-weight:normal; color:#333333">notes </span><span style="font-family:Arial; font-weight:normal; color:#333333">into e</span><span style="font-family:Arial; font-weight:normal; color:#333333">quity</span><span style="font-family:Arial; font-weight:normal; color:#333333"> </span></h2> <p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><span style="font-family:Arial; font-weight:bold; color:#404040">Polymetal</span><span style="font-family:Arial; font-weight:bold; color:#404040"> </span><span style="font-family:Arial; font-weight:bold; color:#404040">announces that </span><span style="font-family:Arial; font-weight:bold; color:#404040">following</span><span style="font-family:Arial; font-weight:bold; color:#404040"> the</span><span style="font-family:Arial; font-weight:bold; color:#404040"> </span><span style="font-family:Arial; font-weight:bold; color:#404040">sale</span><span style="font-family:Arial; font-weight:bold; color:#404040"> of the Kapan mine in <chron>January 2019</chron> </span><span style="font-family:Arial; font-weight:bold; color:#404040">to</span><span style="font-family:Arial; font-weight:bold; color:#404040"> </span><span style="font-family:Arial; font-weight:bold; color:#404040">C</span><span style="font-family:Arial; font-weight:bold; color:#404040">haarat</span><span style="font-family:Arial; font-weight:bold; color:#404040"> Gold <org value="ACORN:1438730401" idsrc="xmltag.org" >Holdings Limited</org> (AIM: CGH) (</span><span style="font-family:Arial; font-weight:bold; color:#404040">together with its subsidiaries - </span><span style="font-family:Arial; font-weight:bold; color:#404040">&quot;</span><span style="font-family:Arial; font-weight:bold; color:#404040">Chaarat</span><span style="font-family:Arial; font-weight:bold; color:#404040">&quot;)</span><span style="font-family:Arial; font-weight:bold; color:#404040">, </span><span style="font-family:Arial; font-weight:bold; color:#404040">Polymetal</span><span style="font-family:Arial; font-weight:bold; color:#404040"> has agreed to exchange</span><span style="font-family:Arial; font-weight:bold; color:#404040"> the</span><span style="font-family:Arial; font-weight:bold; color:#404040"> US$</span><span style="font-family:Arial; font-weight:bold; color:#404040"> </span><span style="font-family:Arial; font-weight:bold; color:#404040">10m of </span><span style="font-family:Arial; font-weight:bold; color:#404040">Chaarat</span><span style="font-family:Arial; font-weight:bold; color:#404040">&apos;s</span><span style="font-family:Arial; font-weight:bold; color:#404040"> </span><span style="font-family:Arial; font-weight:bold; color:#404040">Convertible Notes received as part of original consideration</span><span style="font-family:Arial; font-weight:bold; color:#404040">,</span><span style="font-family:Arial; font-weight:bold; color:#404040"> </span><span style="font-family:Arial; font-weight:bold; color:#404040">as well as factoring in</span><span style="font-family:Arial; font-weight:bold; color:#404040"> working capital settlement under the SPA</span><span style="font-family:Arial; font-weight:bold; color:#404040">, </span><span style="font-family:Arial; font-weight:bold; color:#404040">for 14,638,020 newly issued ordinary shares of US</span><span style="font-family:Arial; font-weight:bold; color:#404040">$</span><span style="font-family:Arial; font-weight:bold; color:#404040"> 0.01 each (&quot;New Shares&quot;)</span><span style="font-family:Arial; font-weight:bold; color:#404040"> in </span><span style="font-family:Arial; font-weight:bold; color:#404040">Chaarat</span><span style="font-family:Arial; font-weight:bold; color:#404040">. This shall represent 3.5% of the enlarged </span><span style="font-family:Arial; font-weight:bold; color:#404040">issued</span><span style="font-family:Arial; font-weight:bold; color:#404040"> share capital of </span><span style="font-family:Arial; font-weight:bold; color:#404040">Chaarat</span><span style="font-family:Arial; font-weight:bold; color:#404040"> post allotment. </span></p> <p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><span style="font-family:Arial; color:#404040">&#160;</span></p> <p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><span style="font-family:Arial; color:#404040">&quot;</span><span style="font-family:Arial; color:#404040">E</span><span style="font-family:Arial; color:#404040">xchange of convertibles into </span><span style="font-family:Arial; color:#404040">Chaarat</span><span style="font-family:Arial; color:#404040"> stock</span><span style="font-family:Arial; color:#404040">,</span><span style="font-family:Arial; color:#404040"> </span><span style="font-family:Arial; color:#404040">working capital settlement</span><span style="font-family:Arial; color:#404040">,</span><span style="font-family:Arial; color:#404040"> and </span><span style="font-family:Arial; color:#404040">release of warranties and indemnities </span><span style="font-family:Arial; color:#404040">ensure</span><span style="font-family:Arial; color:#404040"> </span><span style="font-family:Arial; color:#404040">Polymetal&apos;s</span><span style="font-family:Arial; color:#404040"> direct</span><span style="font-family:Arial; color:#404040"> exposure to </span><span style="font-family:Arial; color:#404040">Chaarat&apos;s</span><span style="font-family:Arial; color:#404040"> performance </span><span style="font-family:Arial; color:#404040">while limiting</span><span style="font-family:Arial; color:#404040"> legacy </span><span style="font-family:Arial; color:#404040">jurisdictional</span><span style="font-family:Arial; color:#404040"> risks</span><span style="font-family:Arial; color:#404040">,</span><span style="font-family:Arial; color:#404040">&quot; said </span><span style="font-family:Arial; color:#404040">Vitaly</span><span style="font-family:Arial; color:#404040"> </span><span style="font-family:Arial; color:#404040">Nesis</span><span style="font-family:Arial; color:#404040">, Group CEO of Polymetal</span><span style="font-family:Arial; color:#404040">.</span></p> <p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><span style="font-family:Arial; color:#404040">The New Shares will be subject to a 12-months lock-up arrangement and </span><span style="font-family:Arial; color:#404040">Chaarat</span><span style="font-family:Arial; color:#404040"> will have a right of first refusal in the event of the sale of those New Shares. </span></p> <p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><span style="font-family:Arial; color:#404040">As a part of this arrangement </span><span style="font-family:Arial; color:#404040">Chaarat</span><span style="font-family:Arial; color:#404040"> Gold International L</span><span style="font-family:Arial; color:#404040">imited, a wholly owned subsidiary of </span><span style="font-family:Arial; color:#404040">Chaarat</span><span style="font-family:Arial; color:#404040">, has agreed to release </span><span style="font-family:Arial; color:#404040">Polymetal</span><span style="font-family:Arial; color:#404040"> from warranties and indemnities under the sale and purchase agreement on acquisition of Kapan except for a limited number of reserved matters.</span><span style="font-family:Arial; color:#404040"> This deal also settles the post-completion working capital adjustment between the parties.</span></p> <p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><span style="font-family:Arial; color:#404040">Chaarat</span><span style="font-family:Arial; color:#404040"> has also agreed to waive its exclusivity right and right of first refusal for </span><span style="font-family:Arial; color:#404040">Lichkvaz</span><span style="font-family:Arial; color:#404040">, </span><span style="font-family:Arial; color:#404040">Polymetal&apos;s</span><span style="font-family:Arial; color:#404040"> remaining asset in <location value="LC/am" idsrc="xmltag.org" >Armenia</location>. This will pave the way for involving other interested parties into the ongoing sale process for </span><span style="font-family:Arial; color:#404040">Lichkvaz</span><span style="font-family:Arial; color:#404040">.</span></p> <p style="margin-top:12pt; margin-bottom:6pt; text-align:justify; font-size:11pt"><span style="font-family:Arial; font-size:10pt; font-weight:bold; color:#333333">About Polymetal</span><span style="font-family:Arial; font-weight:bold; color:#333333"> </span><span style="width:24.25pt; display:inline-block">&#160;</span></p> <p style="margin-top:0pt; margin-bottom:6pt; text-align:justify; font-size:10pt"><span style="font-family:Arial; color:#333333"><org value="LSE:POLY" idsrc="xmltag.org" >Polymetal International</org></span><span style="font-family:Arial; color:#333333"> plc</span><span style="font-family:Arial; color:#333333"> (LSE, MOEX</span><span style="font-family:Arial; color:#333333">, AIX</span><span style="font-family:Arial; color:#333333">: POLY, ADR: AUCOY) (together with its subsidiaries - &quot;Polymetal&quot;, the &quot;Company&quot;, or the &quot;Group&quot;) is </span><span style="font-family:Arial; color:#333333">a</span><span style="font-family:Arial; color:#333333"> top-20 global gold producer and top-5 global silver </span><span style="font-family:Arial; color:#333333">producer with assets in <location value="LC/ru" idsrc="xmltag.org" >Russia</location> and </span><span style="font-family:Arial; color:#333333"><location value="LC/kz" idsrc="xmltag.org" >Kazakhstan</location>. The Company combines strong growth with a robust dividend yield. </span></p> <p style="margin-top:12pt; margin-bottom:6pt; text-align:justify; page-break-after:avoid; font-size:14pt"><span style="font-family:Arial; font-weight:bold; color:#404040">Enquiries</span></p> <table cellpadding="0" cellspacing="0" style="width:99.4%; border-collapse:collapse"><tbody><tr><td style="width:24.6%; border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <h4 style="margin-top:0pt; margin-bottom:0pt; page-break-inside:avoid; font-size:11pt"><span style="font-family:Arial; color:#e19a00">Media</span></h4> </td> <td style="width:20.14%; border-top:0.75pt solid #a9a9a9; border-right:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.03pt 2.48pt 5.4pt; vertical-align:top"> <h4 style="margin-top:0pt; margin-bottom:0pt; page-break-inside:avoid; font-size:11pt"><span style="font-family:Arial; color:#e19a00">&#160;</span></h4> </td> <td colspan="2" style="border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <h4 style="margin-top:0pt; margin-bottom:0pt; page-break-inside:avoid; font-size:11pt"><span style="font-family:Arial; color:#e19a00">Investor Relations</span></h4> </td> </tr><tr><td style="width:24.6%; border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; font-weight:bold; color:#404040">FTI Consulting </span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040"><person>Leonid Fink</person> </span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">Viktor </span><span style="font-family:Arial; color:#404040">Pomichal</span></p> </td> <td style="width:20.14%; border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">+44 20 3727 1000</span></p> </td> <td style="width:24.64%; border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; font-weight:bold; color:#404040">Polymetal</span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">Eugenia Onuschenko</span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">Timofey </span><span style="font-family:Arial; color:#404040">Kulakov</span></p> </td> <td style="width:30.6%; border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:11pt"><a href="mailto:ir@polymetalinternational.com" style="text-decoration:none"><span style="font-family:Arial; text-decoration:underline; color:#0000ff">ir@polymetalinternational.com</span></a><span style="font-family:Arial; text-decoration:underline; color:#0000ff"> </span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">+44 20 7016 9505 (<location value="LC/gb" idsrc="xmltag.org" >UK</location>)</span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">+7 812 334 3666 (<location value="LC/ru" idsrc="xmltag.org" >Russia</location>)</span></p> </td> </tr><tr><td colspan="2" style="border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <h4 style="margin-top:0pt; margin-bottom:0pt; page-break-inside:avoid; font-size:11pt"><span style="font-family:Arial; color:#e19a00">Joint Corporate Brokers</span></h4> </td> <td colspan="2" style="border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <h4 style="margin-top:0pt; margin-bottom:0pt; page-break-inside:avoid; font-size:11pt"><span style="font-family:Arial; color:#e19a00">&#160;</span></h4> </td> </tr><tr><td style="width:24.6%; border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; font-weight:bold; color:#404040">Morgan Stanley</span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040"><person>Andrew Foster</person></span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040"><person>Richard Brown</person></span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><br/><span style="font-family:Arial; font-weight:bold; color:#404040">Panmure</span><span style="font-family:Arial; font-weight:bold; color:#404040"> Gordon </span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040"><person>Charles Lesser</person> </span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#333333"><person>James Stearns</person></span></p> </td> <td style="width:20.14%; border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">+44 20 7425 8000</span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">&#160;</span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">&#160;</span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">&#160;</span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">+44 20 7886 2500</span></p> </td> <td style="width:24.64%; border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; font-weight:bold; color:#404040"><org value="ACORN:3023315330" idsrc="xmltag.org" >RBC Europe Limited</org></span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">Marcus Jackson</span></p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040"><person>Jamil Miah</person></span></p> </td> <td style="width:30.6%; border-top:0.75pt solid #a9a9a9; border-bottom:0.75pt solid #a9a9a9; padding:2.48pt 5.4pt; vertical-align:top"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:11pt"><span style="font-family:Arial; color:#404040">+44 20 7653 4000</span></p> </td> </tr></tbody></table><p style="margin-top:0pt; margin-bottom:0pt; page-break-inside:avoid; font-size:9pt"><span style="font-family:Arial; font-weight:bold; color:#333333">&#160;</span></p> <p style="margin-top:0pt; margin-bottom:0pt; page-break-inside:avoid; font-size:9pt"><span style="font-family:Arial; font-weight:bold; color:#333333">FORWARD-LOOKING STATEMENTS</span></p> <p style="margin-top:6pt; margin-bottom:6pt; text-align:justify; font-size:9pt"><span style="font-family:Arial; color:#333333">THIS RELEASE MAY INCLUDE STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, &quot;FORWARD-LOOKING STATEMENTS&quot;. THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS RELEASE. THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS &quot;TARGETS&quot;, &quot;BELIEVES&quot;, &quot;EXPECTS&quot;, &quot;AIMS&quot;, &quot;INTENDS&quot;, &quot;WILL&quot;, &quot;MAY&quot;, &quot;ANTICIPATES&quot;, &quot;WOULD&quot;, &quot;COULD&quot; OR &quot;SHOULD&quot; 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-</span><span style="font-family:Arial; color:#333333">LOOKING STATEMENTS INVOLVE KNOWN AND <person>UNKNOWN RISKS</person>, UNCERTAINTIES AND OTHER IMPORTANT FACTORS BEYOND THE COMPANY&apos;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&apos;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. THERE ARE MANY FACTORS THAT COULD CAUSE THE COMPANY&apos;S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS. THE COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING</span><span style="font-family:Arial; color:#333333">&#160;</span><span style="font-family:Arial; color:#333333">STATEMENTS</span><span style="font-family:Arial; color:#333333">&#160;</span><span style="font-family:Arial; color:#333333">CONTAINED</span><span style="font-family:Arial; color:#333333">&#160;</span><span style="font-family:Arial; color:#333333">HEREIN TO REFLECT ANY CHANGE IN THE COMPANY&apos;S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS ARE BASED</span></p> <p style="margin-top:12pt; margin-bottom:12pt; page-break-after:avoid; font-size:11pt"><span style="font-family:Arial; color:#333333">&#160;</span></p> </div> </div> <br/><hr/></td> </tr></table><table><tr><td align="left" valign="top" nowrap="nowrap"/> <td align="left" valign="top"/> </tr><tr><td align="left" valign="top" nowrap="nowrap">ISIN:</td> <td align="left" valign="top">JE00B6T5S470</td> </tr><tr><td align="left" valign="top" nowrap="nowrap">Category Code:</td> <td align="left" valign="top">MSCL</td> </tr><tr><td align="left" valign="top" nowrap="nowrap">LSE Ticker:</td> <td align="left" valign="top">POLY</td> </tr><tr><td align="left" valign="top" nowrap="nowrap">Sequence No.:</td> <td align="left" valign="top">14977</td> </tr><tr><td align="left" valign="top" nowrap="nowrap">EQS News ID:</td> <td align="left" valign="top">848359</td> </tr></table><br/><table border="0" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top" colspan="2"/> </tr></table><table border="0"><tr><td align="left" valign="top" colspan="2">&#160;</td> </tr><tr><td align="left" valign="top">End of Announcement</td> <td align="left" valign="top"><org>EQS News Service</org></td> </tr></table><table border="0" width="600" cellpadding="0" cellspacing="0"><tr><td> <hr/></td> </tr></table><p> </p> <img src="https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=show_t_gif&amp;application_id=848359&amp;application_name=news&amp;site_id=acquiremedia_html" alt="fncls.ssp?fn=show_t_gif&amp;application_id=848359&amp;application_name=news&amp;site_id=acquiremedia_html" width="0" height="0" border="0"/></body></html>
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