OREANDA-NEWS. June 14, 2012. Further to its announcement of 17 May 2012, Polyus Gold International Limited (LSE - PLGL, OTC (US) - PLZLY, "PGIL" or the "Company"), the largest gold producer in Russia, wishes to provide an update on the timetable for its intended application for Admission of the entire ordinary share capital of the Company (including those underlying the Company's existing Level 1 Global Depository Receipts ("GDRs")) (the "Shares") to the premium listing segment of the Official List maintained by the U.K. Listing Authority (the "UKLA") and to trading on the main market of the London Stock Exchange ("Admission").  As previously announced, Admission is expected to occur on 19 June 2012, reported the press-centre of PGIL.

On 13 June 2012, all electronic executions on the International Order Book will settle on T+4 basis rather than on standard settlement. Furthermore, all trades electronically executed on the International Order Book between 13 June and 18 June 2012 will settle in Shares following Admission and not in GDR form.

As of close of business on 8 June 2012, 185,074,149 GDRs were held in DTC (excluding the number of GDRs held in the participant accounts of Euroclear Bank S.A./N.V. ("Euroclear") or Clearstream Banking, societe anonyme ("Clearstream"), respectively). To date, elections to receive 127,020,451 ordinary shares have been received from holders of GDRs held in DTC. As noted in the Form of Election and Delivery Instruction, effective upon Admission, the PGIL GDR program will be subject to a cap of 4.99% of PGIL's issued share capital, or 151,304,283 GDRs.

Expected Timetable
Key Date (1) Event
12 June 2012 Deadline for submission of Form of Election and Delivery Instruction deadline (5:00 p.m. EST).

Close of business 12 June 2012 - Admission GDR holders in Euroclear and Clearstream, as applicable, may transfer only from one Euroclear account to another Euroclear account or one Clearstream account to another Clearstream account.  Settlement outside of or into Euroclear or Clearstream, as applicable, will be blocked.  Any delivery out of or receipt into Euroclear or Clearstream still unsettled at close of business on 12 June 2012 will be cancelled.

If pro-ration occurs, settlement within DTC will be blocked.  GDR holders in DTC will have to make their own arrangements for settlement.

13 June 2012 All electronic executions on the International Order Book will settle on T+4 basis rather than on standard settlement. All trades electronically executed on the International Order Book between 13 June and 18 June 2012 will settle following Admission in Shares using the new security ISIN (JE00B5WLXH36) and not in GDR form.

15 June 2012 Record Date for GDR cancellation at close of business. Final day for delivery of GDRs between Euroclear and Clearstream accounts, respectively.

18 June 2012 Settlement within Euroclear and Clearstream will be blocked. 

18 June 2012 Cancellation of GDRs of certain holders for underlying shares.  Mandatory exchange becomes effective if the number of GDRs in the Level 1 GDR Programme exceeds 4.99% of the Company's total issued share capital.

19 June 2012 Expected Admission of Shares and cancellation of listing of GDRs.
 
1. Dates are indicative and subject to change.  In particular, there can be no assurance that Admission will occur, and Admission remains subject to UKLA approval.

Enquiries:

Investor contact
Mikhail Seleznev, Director Investor Relations and Capital Markets
+44 (0) 208 528 14 50 ir@polyusgold.com

Media contact
Sergey Lavrinenko, Director Communications
+44 (0) 208 528 10 20 lavrinenkosn@polyusgold.com