Nordgold Alexey Mordashov suspends buyback and dividend payments in connection with change of jurisdiction



Nordgold at the end of June 2016 has completed the change of jurisdiction from the Netherlands to the UK. This change of jurisdiction will require further optimization of the internal company structure in order to comply with the UK legislation associated with the payment of dividends, with the result that the company did not declare dividends for the second quarter of 2016 and most likely will not be announced for the third quarter of 2016. This is stated in the message of the company.

Nordgold intends to save money, which could be paid based 5.52 cents per share or per GDR (a total of 20.4 million dollars) for the three months ended June 30, 2016, and return to its policy of quarterly distribution of 30% of normalized net profit attributable to shareholders as soon as it becomes available.

In addition, the company shall suspend the buyback programme of the shares and the GDRs.

Recall that Nordgold, a gold mining company Alexey Mordashov with assets in Russia, Africa, Kazakhstan and America.




Nordgold Alexey Mordashov suspends buyback and dividend payments in connection with change of jurisdiction 31.08.2016

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