Polymetal says buys back electronic shares for conversion

MOSCOW, Dec 12 (PRIME) -- Polymetal has bought back an 8.2% stake of voting shares under a program of swapping electronic shares for documentary ones, the company said in a statement on Monday.

In October, Polymetal’s shareholders approved conversion for some investors affected by the E.U. sanctions on the National Settlement Depository.

The company said that the shares it bought would not represent voting rights and would be held on the treasury accounts of the company. Polymetal will annul the shares if sanctions are eased.

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