DJ Polymetal: Vesting of the 2017 performance share plan awards
Polymetal International plc (POLY) Polymetal: Vesting of the 2017 performance share plan awards 23-Apr-2021 / 09:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- Release time IMMEDIATE LSE, MOEX, AIX: POLY / ADR: AUCOY Date 23 April 2021 Polymetal International plc
Vesting of the 2017 performance share plan awards
Polymetal announces that 2017 share awards under the Company's Performance Share Plan ("PSP"), part of the Company's Long-Term Incentive Plan, have vested.
During the four-year performance period ending 19 April 2021 for the PSP awards made in 2017, Polymetal achieved a positive absolute Total Shareholder Return ("TSR") of 105.0% and outperformed a median TSR of 25.4% of the FTSE Gold Mines Index constituents. As a result, Polymetal ranked 6th by TSR out of 45 index participants.
Accordingly, the 2017 performance share awards have vested with 103.0% of the total awards being granted, which includes 86.9% vesting percentage based on the TSR performance and additional share awards for the dividend equivalent paid during the 4-year performance period.
1,575,196 ordinary shares were issued and distributed to 259 participants of the PSP on 21 and 22 April 2021, representing 0.33% of the Company's increased share capital. The newly issued shares have a market value of USUSD34.7 million, based on the closing price as of 20 April 2021.
"2020 was an exceptional year with massive challenges requiring outstanding performance to stay on track. Polymetal is proud to reward 259 employees whose dedication and competence drove sector-leading shareholder returns", said Vitaly Nesis, Group CEO of Polymetal.
Performance Share Plan
Under the PSP, awards are released following a four-year performance period (with an additional mandatory holding period of one year following vesting), subject to certain performance measures being met. The vesting of awards is based on the Company's TSR measured against the TSR of the FTSE Gold Mines Index constituents, as well as the Company's absolute TSR over the same performance period. The vesting conditions were set as follows: - 0% vests for below median performance; - 20% vests at median performance; - 100% vests at top decile performance and above; and - Straight line vesting in between median and top decile. - No award vests if an absolute TSR is negative even if performance is above median.
No consideration is payable for the vesting of the awards by the beneficiaries. In certain cases of Good Leaver Circumstances, the award will usually vest as normal in accordance with the terms of the award. Alternatively, the Board may determine that the award will vest immediately. For more details on the PSP, please see Polymetal's 2020 Annual Report and Accounts available on the Company's website at www.polymetalinternational.com. Further to the 2017 award vesting, shares transferred to the Group CEO and Persons Discharging Managerial Responsibilities ("PDMRs") are presented in the table below:
Number of Additional share awards for Shares granted Total shareholding of employee
Name Position shares vested dividend equivalents under 2017 PSP following vesting of 2017 award
award
Vitaly Nesis Director 41,059 7,605 48,664 3,387,400
Vitaly PDMR 14,739 2,730 17,469 93,207
Savchenko
Sergey PDMR 11,608 2,150 13,758 87,763
Trushin
Roman PDMR 11,609 2,150 13,759 76,349
Shestakov
Pavel Danilin PDMR 13,687 2,535 16,222 114,022
Igor Kapshuk PDMR 9,354 1,733 11,087 72,561
Valery PDMR 13,644 2,527 16,171 291,632
Tsyplakov
Maxim Nazimok PDMR 13,515 2,503 16,018 75,349
Further to the 2017 award vesting, outstanding awards under the PSP are:
Name Position Outstanding awards under 2017 2017 PSP awards Total number of outstanding awards under
-2021 PSP release the PSP
Vitaly Nesis Director 219,225 47,249 171,976
Vitaly PDMR 96,960 16,961 79,999
Savchenko
Sergey Trushin PDMR 77,456 13,358 64,098
Roman PDMR 76,670 13,359 63,311
Shestakov
Pavel Danilin PDMR 79,096 15,750 63,346
Igor Kapshuk PDMR 61,449 10,765 50,684
Valery PDMR 79,012 15,701 63,311
Tsyplakov
Maxim Nazimok PDMR 78,898 15,552 63,346
Applications have been submitted to the London Stock Exchange and UKLA on the official list and awarded shares are expected to be admitted to trading on the London Stock Exchange on 27 April 2021. The total issued share capital of the Company will comprise 473,556,152 ordinary shares of no par value, each carrying one vote.
About Polymetal
Polymetal International plc (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-10 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.
Enquiries
Media Investor Relations
Polymetal ir@polymetalinternational.com
FTI Consulting
Evgeny Monakhov +44 20 7887 1475 (UK)
Leonid Fink +44 20 3727 1000
Timofey Kulakov
Viktor Pomichal
Kirill Kuznetsov +7 812 334 3666 (Russia)
Joint Corporate Brokers
Morgan Stanley & Co. International plc +44 20 7425 8000
Andrew Foster
RBC Europe Limited
Richard Brown
Marcus Jackson +44 20 7653 4000
Panmure Gordon Jamil Miah
Daniel Norman
+44 20 7886 2500
John Prior
Forward-looking statements
This release may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or "should" or similar expressions or, in each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the company's control that could cause the actual results, performance or achievements of the company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the company's present and future business strategies and the environment in which the company will operate in the future. Forward-looking statements are not guarantees of future performance. There are many factors that could cause the company's actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. The company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Notification of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with them
23 April 2021
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name
Vitaly Nesis
2 Reason for the notification
a) Position/status
Director
b) Initial notification /Amendment
Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Full name of the entity
Polymetal International plc
b) Legal Entity Identifier Code
213800JKJ5HJWYS4GR61
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument,
type of instrument
a)
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