|Bid||6.8500 x 3224000|
|Ask||6.8800 x 694800|
|Day's range||6.7700 - 6.9500|
|52-week range||6.2500 - 9.0000|
|PE ratio (TTM)||6.86|
|Forward dividend & yield||N/A (N/A)|
|1y target est||0.12|
Pavel Maslovskiy, one of the founders of Petropavlovsk (POG.L), hopes to return as CEO later this year in the latest twist in a long-running battle for control at the Russian gold miner. Maslovskiy stepped down last year after a shareholder revolt ousted another co-founder, British businessman Peter Hambro. Kazakh entrepreneur Kenges Rakishev, who is now the company's largest shareholder after buying a stake from Russian billionaire Viktor Vekselberg in December, also wants Maslovskiy back at the helm.
The battle for some of Russia’s richest gold mines has an unusual cast of characters: the scion of one of Europe’s great banking families, a Kazakh tycoon with his own cryptocurrency, hedge fund D.E. Shaw, and mystery shareholders. For the second time in a year, the company is in the middle of a shareholder coup to throw out the board and revive its fortunes. A decade ago, Petropavlovsk was worth $3 billion and was mentioned as a future member of the benchmark FTSE 100 Index, but sinking gold prices and management missteps reduced it to a penny stock.
Two Petropavlovsk shareholders want to bring long-time chief executive and co-founder Pavel Maslovskiy back to the board, the Russian gold miner said on Wednesday. CABS Platform Ltd and Slevin Ltd, which together hold a 9.11 percent stake in Petropavlovsk (LSE: POG.L - news) , requested that all existing directors are removed and former CEO Maslovskiy is brought back to the board at the next shareholders meeting, Petropavlovsk said. Petropavlovsk named Roman Deniskin as CEO in February, following Maslovskiy's resignation last year after a clash with shareholders over control of the company, which also resulted in the departure of another co-founder, Peter Hambro.
Russian gold miner Petropavlovsk named Roman Deniskin as its chief executive on Thursday, following the resignation last year of its long-time CEO and co-founder. The appointment comes less than a month after Kazakh businessman Kenges Rakishev, who owns a 22 percent stake in Petropavlovsk (LSE: POG.L - news) , told Reuters that he wanted to bring back co-founder Pavel Maslovskiy as CEO. Maslovskiy resigned in July at a time of a shareholder row over control of the gold mining company, which also resulted in the departure of another co-founder Peter Hambro.
Kazakh businessman Kenges Rakishev, who owns just over a fifth of Russian miner Petropavlovsk (POG.L), said the company should sell its 31.1 percent stake in Hong Kong-listed iron ore company IRC to focus exclusively on gold. Rakishev, who bought a 22 percent stake in Petropavlovsk in December, has said his near-term focus is on bringing back former CEO Pavel Masklovskiy to continue work on a project to boost the company's output. After that, he would seek acquisitions, not just in Russia, but in central Asia, and he said shareholder value would be increased if Petropavlovsk sold its stake in IRC, which has a market capitalisation of around $200 million.
Kazakh businessman Kenges Rakishev, who owns just over a fifth of Russian miner Petropavlovsk (LSE: POG.L - news) , said the company should sell its 31.1 percent stake in Hong Kong-listed iron ore company IRC (HKSE: 1029-OL.HK - news) to focus exclusively on gold. Rakishev, who bought a 22 percent stake in Petropavlovsk in December, has said his near-term focus is on bringing back former CEO Pavel Masklovskiy to continue work on a project to boost the company's output. After that, he would seek acquisitions, not just in Russia, but in central Asia, and he said shareholder value would be increased if Petropavlovsk sold its stake in IRC, which has a market capitalisation of around $200 million.
Russian billionaire Viktor Vekselberg's Renova Group has sold its stake in Russian gold producer Petropavlovsk, Renova spokesman Andrey Shtorkh told Reuters on Wednesday. "The deal is closed, we are ...
Shares (Berlin: DI6.BE - news) in Russian-focused gold miner Petropavlovsk (LSE: POG.L - news) fell on Tuesday after the company reported a rise in first-half profit as analysts said it was too soon to tell what difference changes at the top would make. Petropavlovsk returned to profit in 2016 after restructuring to tackle its debts, but faced further turmoil this year as rebel shareholders ousted founder Peter Hambro in June and voted in new board members, citing corporate governance failures. Petropavlovsk reported a 30 percent increase in first-half earnings before interest tax, depreciation and amortisation (EBITDA) on Tuesday, and said it continued to work on strengthening its capital structure.
Shareholders voted for four new board members at Russian-focused gold miner Petropavlovsk on Thursday, ousting Peter Hambro who has run the company since he founded it in 1994. Rebel shareholders, holding around 40 percent of the company, backed nominees to replace four out of six of the board at Petropavlovsk (LSE: POG.L - news) , including Hambro, Hambro said.
There is no legal requirement for a formal takeover bid for Russian-focused gold miner Petropavlovsk (LSE: POG.L - news) and three out of four board nominees put forward by rebel shareholders are independent, Britain's Takeover Panel said on Thursday. The watchdog assessed resolutions from shareholders seeking to overhaul the Petropavlovsk board at its annual meeting next week and sought to determine whether they were acting in concert. Peter Hambro, who has headed Petropavlovsk since he founded it in 1994, questioned whether the shareholders seeking change were acting together to pursue "a takeover by stealth", avoiding paying the premium a formal takeover would require.
A leading adviser on Wednesday lent its weight to calls from dissident shareholders to remove Peter Hambro from the board of London-listed Petropavlovsk , the Russian-focused gold miner he founded in 1994. Dissident shareholders together holding an almost 40 percent stake have backed nominees to replace four out of six directors at Petropavlovsk (LSE: POG.L - news) , including Hambro. In an initial report, shareholder advisor ISS advised against supporting any of the dissident proposals, but on Wednesday it issued revised recommendations, saying it had received additional information.
Shareholder advisory group ISS on Wednesday changed its recommendation ahead of Petropavlovsk's annual general meeting next week, saying shareholders should oppose the reappointment of Peter Hambro, who ...
Shareholders DE Shaw, M&G (Shanghai: 603899.SS - news) and Sothic said in a statement on Wednesday London-listed gold miner Petropavlovsk (LSE: POG.L - news) 's board needs an overhaul, but they have no intention of taking control of the company. Shareholders, including M&G and Sothic, have put forward resolutions ahead of the company's annual general meeting next week aimed at replacing Chairman Peter Hambro, who set up the Russian-focused miner in 1994. Three shareholder advisors - PIRC, Glass Lewis and ISS (LSE: 0QRS.L - news) have all said they recommend opposing the changes.
Advisor PIRC has recommended investors oppose a plan to overhaul the board at London-listed miner Petropavlovsk's June 22 annual general meeting. Three top shareholders have put forward resolutions aimed ...
Investors in London-listed gold miner Petropavlovsk should reject a plan to overhaul the board at the company's annual general meeting next week, leading shareholder voting advisors said. Three top shareholders, who together own more than 30 percent of Petropavlovsk, have put forward resolutions aimed at replacing Chairman Peter Hambro, who set up the Russian-focused miner in 1994.
Leading shareholder proxy voting advisor ISS said investors should reject a plan to overhaul the board of London-listed gold miner Petropavlovsk at the company's annual general meeting on June 22. Three ...
Peter Hambro, who has headed Russian-focused gold miner Petropavlovsk (LSE: POG.L - news) for decades, is seeking to fend off a shareholder revolt led by Russian billionaire Viktor Vekselberg, whom Hambro accuses of pursuing "a takeover by stealth". After nearly a quarter of a century at the helm of a company he founded in 1994, Hambro says he has begun addressing the succession issue and would consider selling at the right price.