OREANDA-NEWS. On October 09, 2007 JSC “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”), announced the acquisition of 100% of share capital of Polymetal ESOP Limited (registered in accordance with British Virgin Islands legislation, legal address: British Virgin Islands, Tortola Road Town, 173, Kingston Chambers) has been completed, reported the press-centre of Polymetal.

The Russian branch of Banque Societe Generale Vostok (BSGV) took second place, and Fastland company finished third in the competition.

"We conduct a training program for the company's most promising managers as future heads of Inprom's branches, capable of organizing effective work," said Yekaterina Skazhenik, head of the corporate training center.

Polymetal ESOP Limited’s single asset is 5,5 million shares of Polymetal representing approximately 1,76% of the Company’s share capital. These shares were granted by the controlling shareholder after the IPO, to fund one of the broadest-based employee stock option programs in the Russian metals and mining industry, involving more than 250 employees of the Company. Participants of the program received the right to purchase Polymetal’s shares at the price of 1 Russian ruble (approximately US$0,04) per share in equal installments in February 2008, February 2009, and February 2010.

Polymetal views its employees as the Company’s key asset and considers the stock option program to be an important element of its strategy.