Business Wire

Prosperity Capital Management Welcomes Glass Lewis’ Voting Recommendations to Petropavlovsk Shareholders

Share

Prosperity Capital Management (“Prosperity”), a leading Russia-focused asset manager that controls approximately 20 per cent of the outstanding share capital of Petropavlovsk PLC (“the Company”), today commented on the voting recommendations made by independent proxy advisor Glass Lewis in advance of the Company’s extraordinary general meeting to be held on 10 August. Glass Lewis’ analysis recommends that Petropavlovsk shareholders:

  • VOTE FOR the six highly qualified director nominees nominated by Prosperity represented by Resolutions 1-6;
  • VOTE AGAINST the election of Everest Alliance Limited’s (“Everest”) nominees represented by resolutions 7-8; and
  • VOTE AGAINST Resolution 18 which proposes to remove any director who may be appointed since July 9, 2020 until the conclusion of the requisitioned general meeting - this would include the six nominees proposed by Prosperity

Prosperity is pleased that Glass Lewis recognises the importance of reconstituting the Petropavlovsk Board with a majority of independent directors as well as the risks posed to shareholders by Everest’s proposed candidates and Resolution 18. Like ISS, the recommendations by Glass Lewis demonstrate that Petropavlovsk and its shareholders deserve a fair say in ensuring Petropavlovsk has a strong, independent and balanced Board that can create sustainable value.

Based on these recommendations, Prosperity affirms that this vote is about providing unaffiliated minority shareholders with adequate information to make an informed decision with respect to the future of their company. It is critical that shareholders follow Glass Lewis’ recommendations and VOTE FOR Resolutions 1 - 6 and VOTE AGAINST Resolutions 7, 8 and 18 at the EGM to protect against a potential creeping takeover by affiliated parties and to maintain a strong and professional Board that is able to resist any inappropriate pressure to sell the company on the cheap. The ongoing development of Petropavlovsk and any bid for the Company should be considered independently, in the interests of all shareholders and certainly not by a small board aligned to a potential suitor.

For more information, including instructions on how to vote your shares, please visit www.Stop-Takeover-Of-POG.com.

-Ends-

About Prosperity Capital Management

Founded in 1996, Prosperity Capital Management is a leading Russia-focused asset manager controlling assets of around USD 4 billion on behalf of pension funds, endowments, foundations, family offices, sovereign wealth funds and high net worth individuals from across Europe, North America, Middle East and Australasia. The firm employs a long-term, fundamental value, active and engaged shareholder approach to access the public equity investment opportunity amongst Russian and Former Soviet Union companies.

Contact information

Investor contact
Georgeson
Nicholas Laugier
Nicholas.Laugier1@georgeson.com

Nina Atkinson
nina.atkinson@georgeson.com

Media contact
Kepler Communications
Charlotte Balbirnie
CBalbirnie@keplercomms.com
+44 7989 528421

Michael Henson
MHenson@keplercomms.com
+44 7551 720441

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Taulia’s Darcy Douglas Named One of the Top Women in Supply Chain23.9.2020 20:30:00 EESTPress release

Taulia, the leader in working capital technology solutions, has today announced Darcy Douglas, VP of Professional Services, has been listed as a recipient of Supply & Demand Chain Executive’s first Women in Supply Chain award. The award recognizes female leaders in the supply chain industry who have demonstrated a commitment to excellence in their respective roles and also supporting other women to develop their careers and skills. Darcy has been at Taulia for ten years and her leadership has helped the company grow from a small start-up to an established market leader in the supply chain finance industry. During her time at Taulia, Darcy has spearheaded the creation of three leadership and professional development programs that help Taulians boost their skills and enhance their careers. Specifically, Darcy created the Leadership Initiative for Taulia (LIFT) program for women, which includes a mentoring program, education classes, and other activities, to inspire development and leader

DC Secretary Announces Proposed Amendments to DC Rules23.9.2020 18:22:00 EESTPress release

DC Administration Services, Inc., in its capacity as DC Secretary, has today published to the DC website proposed amendments to the Deliverable Obligation and External Review provisions of the DC Rules. Any Eligible Market Participant may provide comments on the proposed amendments to the DC Rules until 5:00pm EDT Tuesday, September 29, 2020. The proposed amendments to the DC Rules, together with additional information about the Determinations Committees and what they do can be found at the Determinations Committees website: https://www.cdsdeterminationscommittees.org/. Other inquires may be directed to Mark Ferraris at mark.ferraris@citadelspv.com View source version on businesswire.com: https://www.businesswire.com/news/home/20200923005724/en/ Contact information Mark Ferraris mark.ferraris@citadelspv.com

MIRIS: Green Growth in the Midst of a Pandemic23.9.2020 17:19:00 EESTPress release

In March 2020, also Norway ran out of infection control equipment. In this critical phase, MIRIS, a top tier technology green real estate company, initiated a collaboration with China Development Integration Limited (CDIL), a major EPC integration corporation in the Silk Road initiative. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200923005669/en/ From left to right: Henrik Berg Klemmetsen, Magdalena Urbanik, Danny Wong, Andy Lai , Davis Chiu Xinwen Chang and Jan Gunnar Mathisen. Frame: Edmund Amir. (Photo: Business Wire) The two companies have a relationship with regards to building a large-scale smart city in Europe, and MIRIS realized the possibility of a cooperation with CDIL and its resources to ensure supply of high quality infection control equipment. Together they fulfilled significant contracts regarding infection control equipment for several countries, including Norway. In a market described as the "Wild West",

CORRECTING and REPLACING SES Becomes Microsoft Azure Orbital Founding Connectivity Partner23.9.2020 16:38:00 EESTPress release

Second paragraph of release dated September 22, 2020 should read: The first MEO and Earth Observation gateways will be located in the United States; in Phoenix, Arizona and Quincy, Washington respectively. (instead of ... located in Phoenix, Arizona, United States and Quincy, Western Australia respectively). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200922005927/en/ SES Becomes Microsoft Azure Orbital Founding Connectivity Partner (Photo: Business Wire) The updated release reads: SES BECOMES MICROSOFT AZURE ORBITAL FOUNDING CONNECTIVITY PARTNER SES’s proven low-latency MEO managed services to be part of Microsoft’s new multi-orbit satellite connectivity integrated with Azure, promising optimized cloud application performance for O3b mPOWER customers SES today announced it has joined as the medium Earth orbit (MEO) connectivity partner for Microsoft Azure Orbital, Microsoft’s new managed service enabling network operator

CORRECTING and REPLACING SES Advances Digital Transformation with Cloud-First Strategy, Expanded Agreement23.9.2020 16:36:00 EESTPress release

Eighth paragraph of release dated September 22, 2020 should read: The two companies will make joint investments in Azure Orbital ground stations for the MEO and Earth Observation segments that SES will deploy and manage based on its industry expertise, with the first Earth Observation gateway being located at Quincy, Washington in the United States. (instead of ... with the first Earth Observation gateway being located at Quincy, Western Australia.). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200922005930/en/ SES Advances Digital Transformation with Cloud-First Strategy, Expanded Agreement (Photo: Business Wire) The updated release reads: SES ADVANCES DIGITAL TRANSFORMATION WITH CLOUD-FIRST STRATEGY, EXPANDED AGREEMENT Multi-year agreement with Microsoft includes Azure Orbital integration, SES’s expanded use of Azure and joint development of new video and data connectivity services SES today announced plans to significan

Former World Head of State to Address Attendees at Everbridge’s COVID-19: Road to Recovery (R2R) Symposium, Joining Dr. Anthony Fauci, Sir Richard Branson, and Dr. Sanjay Gupta as Keynotes, October 14-15, 202023.9.2020 16:29:00 EESTPress release

Everbridge, Inc. (NASDAQ: EVBG), the global leader in critical event management (CEM), today announced that a former World Head of State will address attendees to its Autumn 2020 “COVID-19 R2R: The Road to Recovery” virtual leadership summit to be held October 14-15, 2020, covering the path forward amid the COVID-19 pandemic. The addition of a former World Head of State represents the latest in a top-tier line-up of leading experts and C-level executives who will share their perspectives on best practices for the safe reintegration of people back to work, campuses and public spaces; the restoration of revenue-generating operations; and the protection of citizens on a countrywide scale amid the coronavirus pandemic. Keynote speakers include presidential advisor and Director of the National Institute of Allergy and Infectious Diseases (NIAID) at the U.S. National Institutes of Health (NIH) Dr. Anthony Fauci, Virgin Group Founder Sir Richard Branson, and renowned neurosurgeon and CNN Chie

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom