Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Petropavlovsk Plc (POG)

  Print      Mail a friend       Annual reports

Friday 10 September, 2010

Petropavlovsk Plc

Update proposed listing non-p

RNS Number : 4750S
Petropavlovsk PLC
10 September 2010



This announcement does not constitute or form part of any offer or invitation for the sale or purchase of any shares or other securities in, or any underlying assets of, IRC Limited or any of its subsidiaries in the United States, United Kingdom, Hong Kong, Russia or in any other jurisdiction whatsoever.


10 September 2010




Progress of proposed listing of Non-Precious Metals Division in Hong Kong


London, 10 September 2010 - The Board of Petropavlovsk PLC ("Petropavlovsk", or the "Company" or, together with its subsidiaries, the "Group") is pleased to announce that it has reached an advanced stage in its preparations for a possible Hong Kong IPO of the Group's Non-Precious Metals Division and has decided, subject to final approval from the Listing Committee of The Stock Exchange of Hong Kong Limited ("HKEx") and market conditions, to proceed with an IPO of the Group's Non-Precious Metals Division on the HKEx.


As part of the proposed listing process, the Non-Precious Metals Division has been re-organised under a new subsidiary, IRC Limited ("IRC"). Subject to the listing proceeding, it is expected that IRC will become the listed entity on the HKEx during October 2010.


The Non-Precious Metals Division comprises a mining business which is focused on exploring for, developing and operating industrial commodity projects in the Russian Far East and the north-eastern region of China. Its business includes the Group's interests in the mining and processing projects at Kuranakh, Kimkan & Sutara ("K&S"), Garinskoye, Kostenginskoye, Garinskoye Flanks and Bolshoi Seym, the Vanadium Pentoxide joint venture, the Titanium Sponge project as well as supporting the bridge and seaport infrastructure projects, and its interest in the Giproruda Technical Institute. 


The Board has considered a number of financing options and possible locations for a listing of IRC and has concluded that a listing on the Main Board of HKEx is the most appropriate and desirable. The decision reflects the location of IRC's asset portfolio as well as proximity to IRC's target customers, equipment suppliers and sources of capital.


IRC will be headquartered in Hong Kong and will have an independent Board of Directors and management team.  Jay Hambro and Yury Makarov have stood down from their positions of Chief Investment Officer and Group Head, Non Precious Metals at Petropavlovsk, respectively, and have assumed the roles of Executive Chairman and Chief Executive Officer of IRC, respectively. Raymond Woo, formerly a Director at a major international investment bank in Hong Kong, has been appointed as Chief Financial Officer of IRC.


In June 2010, Petropavlovsk announced an investment in the Group's Non-Precious Metals Division by funds managed by GEMS Ltd. and CEF, the latter of which is a joint venture between the Canadian Imperial Bank of Commerce and Cheung Kong (Holdings) Ltd.  Subject to the listing proceeding and in order to expedite the process, it is expected that, at the time of the listing, GEMS's and CEF's shareholding in IRC will be purchased by the Company, that at least the majority of investors will instead participate as lead investors in the IPO process and that they will invest in aggregate their original investment amount at the IPO price.


Peter Hambro, Chairman of Petropavlovsk PLC, said:


"With the progress we have made towards funding our larger projects, while producing and delivering our first iron concentrate from Kuranakh, a listing of IRC in Hong Kong is an important and significant further step for Petropavlovsk and for IRC."


The listing of IRC is subject to, among other things, the final approval from the Listing Committee of HKEx and the final decisions of the boards of Directors of the Company and IRC.  There is no assurance that the listing will proceed or as to when it will take place.  Further updates on this process will be provided as appropriate.


Petropavlovsk PLC                      

+44 (0) 20 7201 8900

Alya Samokhvalova

Rachel Tuft


Merlin, London

+44 (0) 20 7726 8400

David Simonson

Fiona Crosswell


Kreab Gavin Anderson, Hong Kong

+852 2523 7189

Richard Barton (+852 9308 1056)

Joshua Goldman-Brown (+852 9687 9197)

Grace Zhang (+852 6746 8971)



The material set forth herein is for informational purposes only and does not constitute an offer of securities for sale in the United States or any other jurisdiction in which such an offer or solicitation is unlawful.  The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state, and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws.  No public offering of securities will be made in the United States. Some statements contained in this release or referred to in it are, or may be, forward-looking statements. Actual results may differ from those expressed in such statements, depending on a variety of factors.

In connection with the listing, the price of IRC shares may be stabilised in accordance with the Securities and Futures (Price Stabilizing) Rules (Cap. 571W of the Laws of Hong Kong).  Details of any intended stabilisation and how it will be regulated under the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) will be contained in the prospectus to be published by IRC.

This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t