TIDMTSG
RNS Number : 1672B
Trans-Siberian Gold PLC
08 June 2021
8 June 2021
Trans-Siberian Gold plc
("TSG", the "Company" or the "Group")
Directorate Changes
Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold
producer in Russia, announced on 18 March 2021 a recommended
pre-conditional mandatory cash offer (the "Offer") to be made by
Horvik Limited ("Horvik") for the Company and that Horvik had
agreed to acquire 44,558,918 ordinary shares in TSG, representing
approximately 51.2 per cent. of TSG's issued share capital
(excluding shares held in treasury and shares to be issued pursuant
to the LTIP (defined below)), from a group of TSG's shareholders
(the "Acquisition").
Horvik announced completion of the Acquisition on 26 May 2021,
as a result of which the awards granted under the Company's two
Long Term Incentive Plans (the "LTIP"), as described in the
Company's announcement dated 29 April 2021, (the "LTIP Awards"),
vested under the change of control provisions in the LTIP rules.
After t he Company's transfer of 4,787,816 ordinary shares out of
treasury to settle the LTIP Awards, Horvik's interest in the
Company now represents approximately 48.6 per cent. of TSG's issued
share capital (excluding shares held in treasury).
On 28 May 2021 TSG reported that Charles Ryan, Florian Fenner
and Robert Sasson had resigned from the Company's board with effect
from Horvik's completion of the Acquisition. The Company is now
pleased to announce that Lou Naumovski has been appointed as TSG's
interim Chairman to succeed Charles Ryan.
Under the Relationship Agreement entered into by Horvik and the
Company on 18 March 2021, Horvik has the right to nominate between
one and three directors to the TSG board commensurate with its, and
its associates, aggregate TSG shareholdings, the thresholds being
20 per cent., 40 per cent. and 50 per cent.
The Company is now pleased to announce the appointment to the
TSG board of Vladislav Sviblov and Anton Glazunov (the "New
Directors") as non- executive directors.
Brief biographies
Vladislav Vladimirovich Sviblov
Vladislav Sviblov is the ultimate beneficial owner of Horvik. He
is a Russian entrepreneur and the sole or main shareholder of some
major mining and industrial assets, including Highland Gold Mining,
one of Russia's leading gold mining companies, Ozernaya Mining
Company which develops mining assets in Buryatia, including Ozernoe
polymetallic deposit and ECOPOLIS Corporation, a Russian market
leader in recycling and utilization of electronic equipment. Mr
Sviblov is currently the CEO of Highland Gold and Ozernaya Mining
Company. Mr Sviblov has been investing in mining projects in
Russia, Kazakhstan and South America since 2017, following a
successful 16-year career at two of Russia's largest property
developers - Rosbuilding and PIK Group. Mr Sviblov is a 2002
graduate of the Moscow State University of Economics, Statistics
and Informatics with a degree in finance and credit, and earned a
PhD in economics in 2006.
Anton Vladimirovich Glazunov
Anton Glazunov currently serves as Deputy CEO for Strategy and
Development of Highland Gold Mining, one of Russia's leading gold
mining companies, which he joined in 2020. Mr Glazunov previously
held the same position in Ozernaya Mining Company which develops
mining assets in Buryatia, including Ozernoe polymetallic deposit,
and before that worked as an investment manager and project
director at private equity fund CFC Management and as an investment
manager at Auriant Mining AB, a Russia-focused gold producer. Mr
Glazunov is a graduate of the Moscow-based Higher School of
Economics with a BSc in economics.
Additional Information
The following additional information is provided in accordance
with AIM Rule 17 and Schedule Two, paragraph (g) of the AIM Rules
for Companies.
Details of the names of companies and partnerships (excluding
directorships of the Company) of which the New Directors are or
have been members of the administrative, management or supervisory
bodies or partners at any time in the five years preceding the date
of this document are set out below:
Vladislav Vladimirovich Sviblov (aged 41)
Current directorships: Highland Gold Mining Limited, Stanmix
Holding Limited, Ozernaya Mining Company LLC,
Ozernaya Mining Company JSC, Talinskoe LLC, FORTIANA JSC, JSC "Corporation ECOPOLIS", "RDM" LLC.
Previous directorships held in the last 5 years: East Siberia
Mining Company LLC, Ermakovskoe LLC, InvestEvroCompany LLC, PIK
Group PJSC and OAO Donskoy Factory of Radiocomponents.
Shareholding in the Company: 48.6% (indirectly through Horvik
Limited)
Anton Vladimirovich Glazunov (aged 30)
Current directorships: Highland Gold Mining Limited, Ozernaya
Mining Company JSC, JSC 'Corporation ECOPOLIS' and JSC
Novo-Shirokinsky Rudnik.
Previous directorships held in the last 5 years: Ozernaya Mining
Company LLC, Nagora Holding LLC, Nagora Shakhstroy LLC, Nagora
Mining LLC and NPO Cargo Technologies LLC.
Shareholding in the Company: None.
ENDS
Contacts:
TSG
Stewart Dickson +44 (0) 7799 694195
Canaccord Genuity Limited
(Nominated Adviser & Joint Corporate Broker)
Henry Fitzgerald-O'Connor / James Asensio +44 (0) 20 7523 8000
Panmure Gordon (UK) Limited
(Joint Corporate Broker)
John Prior / Hugh Rich / Ailsa MacMaster +44 (0) 20 7886 2500
Hudson Sandler
(Financial Public Relations)
Charlie Jack / Katerina Parker / Elfie
Kent +44 (0) 207 796 4133
About TSG
TSG is focused on low cost, high grade mining operations and
stable gold production from its 100% owned Asacha Gold Mine in Far
East Russia. The Company also holds the licence for the development
and exploration of the Rodnikova deposit, one of the largest gold
fields in South Kamchatka.
Additional information is available from the Company's website:
www.trans-siberiangold.com
Disclaimer
This announcement contains "forward-looking statements" - that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks", "should" or "will". Forward-looking statements by their
nature address matters that are, to different degrees, uncertain.
For the Company, uncertainties arise from the behaviour of
financial and metals markets, fluctuations in interest and/or
exchange rates and metal prices; and from numerous other matters of
national, regional and global scale, including those of a
political, economic, business, competitive or regulatory nature.
These uncertainties may cause the Group's actual future results to
be materially different from those expressed in such
forward-looking statements.
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END
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