OREANDA-NEWS. On May 27, 2008 OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia’s leading gold producer, announced that its wholly-owned subsidiary ZAO Polyus consolidated 97,5% of OJSC Matrosov Mine, a license holder for Natalka deposit in Magadan region of Russia, following a voluntary offer to the owners of Matrosov’s ordinary and preference shares, reported the press-centre of Polyus Gold.

Before the offer, ZAO Polyus held 94,8% of the chartered capital of Matrosov Mine, consisting of ordinary and preference registered shares.

On February 22nd, 2008, ZAO Polyus made a voluntary offer to the shareholders of OJSC Matrosov Mine. It was a public offer made to all holders of ordinary and preference registered shares of OJSC Matrosov Mine.

On May 14th, 2008, ZAO Polyus have completed the shares buyout within the voluntary offer. The buyout resulted in a 2,7% increase of ZAO Polyus’ stake in OJSC Matrosov Mine to 97,5%. In total, 9,107 ordinary shares were purchased at 56,396.83 rubles (\\$2,350) per share and 6,922 preference shares at 4.08 rubles (\\$0,17) per share. Therefore, ZAO Polyus’s stake in OJSC Matrosov Mine was raised to over 95%, which entitles the company to compulsory buyout the shares of the remaining shareholders.

ZAO Polyus is planning to start the compulsory share buyout procedure after a fairness opinion on OJSC Matrosov Mine’s share price is done by an independent appraiser.