Solidcore (formerly known as Polymetal) final exchange offer and mandatory buyback of blocked shares
Subject to approvals by the General Meeting, which will be held on 29 July 2025, the Solidcore will conduct a final exchange offer for shares administered in Russia infrastructure with Euroclear in the chain of custody and establish a framework which will allow the Solidcore to execute a mandatory buyback of all shares which continue to be held in Euroclear at US$ 2.57 per share.
Persons holding their shares in Euroclear through non-sanctioned broker(s) or depositories outside of Russia and who have not yet transferred them to AIX (Astana International Exhibition) are urged by Solidcore to do so no later than 31 October 2025 to prevent being subjected to a mandatory buyback. European shareholders may consider opening an account with Freedom Finance, the Kazakh Halyk Bank, or other brokers with AIX access in order to transfer their shares to AIX infrastructure.
Shareholders holding their shares through the National Settlement Depository (NSD) or indirectly under Euroclear through other Russian depositories will be given the opportunity to exchange their shares for AIX-issued shares on a one-for-one basis under the final exchange offer. The exchange offer will be available after the approval at the General Meeting on 29 July 2025. Eligible Shareholders should complete transfers of their shares to the Company’s account by 31 October 2025.
If the resolutions are passed at the general meeting and shareholders holding their shares through Euroclear do not exchange their shares under the final exchange offer prior to its expiry, or do not transfer their shares to AIX by the relevant deadlines, they may be subject to the mandatory buyback, if and when the board of Solidcore implements this process.
Detailed information can be found in the circular that has been published on the website of Solidcore: https://www.solidcore-resources.com/en/corporate-action/
Persons holding their shares in Euroclear through non-sanctioned broker(s) or depositories outside of Russia and who have not yet transferred them to AIX (Astana International Exhibition) are urged by Solidcore to do so no later than 31 October 2025 to prevent being subjected to a mandatory buyback. European shareholders may consider opening an account with Freedom Finance, the Kazakh Halyk Bank, or other brokers with AIX access in order to transfer their shares to AIX infrastructure.
Shareholders holding their shares through the National Settlement Depository (NSD) or indirectly under Euroclear through other Russian depositories will be given the opportunity to exchange their shares for AIX-issued shares on a one-for-one basis under the final exchange offer. The exchange offer will be available after the approval at the General Meeting on 29 July 2025. Eligible Shareholders should complete transfers of their shares to the Company’s account by 31 October 2025.
If the resolutions are passed at the general meeting and shareholders holding their shares through Euroclear do not exchange their shares under the final exchange offer prior to its expiry, or do not transfer their shares to AIX by the relevant deadlines, they may be subject to the mandatory buyback, if and when the board of Solidcore implements this process.
Detailed information can be found in the circular that has been published on the website of Solidcore: https://www.solidcore-resources.com/en/corporate-action/