Russia’s Nordgold postpones LSE delisting to Mar 16 from Thu

MOSCOW, Mar 6 (PRIME) -- Gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, has postponed delisting from the London Stock Exchange (LSE) to March 16 from Thursday to synchronize the delisting with closing of a buyback offering, the company said in a statement on Monday.

Nordgold may acquire global global depositary receipts (GDRs) from minority shareholders for U.S. $118 million, or $3.45 per security, with its own funds in the framework of the planned delisting, CEO Nikolai Zelensky said earlier.

Capital of Nordgold consists of 370.396 million common shares with a face value of 1 euro each. GDRs cover 51.336 million shares, of which majority shareholders own 17.006 million shares. This means that Nordgold can buy back up to 34.329 million shares, or 9.27% of the charter capital.

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