Polyus Finance Plc
Polyus Finance Plc: Establishment of a COVID-19 Fund
DGAP-News: Polyus Finance Plc
/ Key word(s): Miscellaneous
Press Release 26 March 2020 PJSC Polyus Establishment of a COVID-19 Fund PJSC Polyus (LSE, MOEX – PLZL) (“Polyus”, the “Company”), in cooperation with the Far East Development Fund (“FEDF”), will co-found a fund to finance activities aimed at preventing the spread of COVID-19 in the Russian Far East. The size of the fund is expected to reach RUB 1 billion, reflecting donations from different parties. FEDF and Polyus will donate a total of RUB 250 million under the first tranche which will be used to finance initiatives to help prevent the spread of the virus. A portion of the first tranche will be allocated to the Magadan region and Yakutia, Polyus’ principal regions of operations in the Russian Far East, and will be utilized for the procurement of personal protective devices and medical equipment for local hospitals. The remaining portion of the first tranche will be directed to all other regions of the Far Eastern Federal District. It is expected that the remaining RUB 750 million will be raised from non-budgetary sources. Other large companies operating in the region or carrying out investment programmes in the Far East have been invited to participate in the programme. Pavel Grachev, Chief Executive Officer of PJSC Polyus, commented: “It is critical that everyone comes together to fight the global pandemic. As one of the largest companies operating in the Far East, it is Polyus’ duty to prepare the region for a possible COVID-19 outbreak. The safety of thousands of our employees and their families is our absolute priority. In cooperation with our partners in the Far East and at the federal level, we will do everything we can to help the region overcome this challenge.” Alexei Chekunkov, Chief Executive Officer of the Far East Development Fund, commented: “It is crucial that private businesses, state institutes and regional authorities combine their efforts to protect the life and health of our citizens. We hope that other companies will join this initiative. I am sure that acting together, we can handle any difficulties”, commented Alexey Chekunkov, CEO of the Russian Far East Development Fund. Polyus Polyus is the largest gold producer in Russia and one of the top five gold miners globally with the lowest cost position. Based on its 2018 Ore Reserves and Mineral Resources, the Polyus group ranks the third by attributable gold reserves among the world’s largest gold mining companies. The Polyus group’s principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
26.03.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Polyus Finance Plc |
16 Berkeley Street | |
W1J 8DZ London | |
United Kingdom | |
Phone: | +44 (0)203 907 4050 |
E-mail: | sergei.nossoff@pgil.co.uk |
Internet: | http://polyus-finance.polyus.com/ |
ISIN: | XS1533922933 |
WKN: | A19CYF |
Listed: | Regulated Unofficial Market in Stuttgart; London |
EQS News ID: | 1008581 |
End of News | DGAP News Service |