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GV Gold Announces the New Composition of the Board of Directors and the Dividends for 2020

GV Gold (Vysochaishy, PJSC), together with its subsidiaries (hereinafter referred to as “GV Gold”, “Vysochaishy” or the “Company”), one of Russia’s largest and fastest-growing gold mining companies, at its Annual General Shareholders Meeting held on June 30, 2021, approved the renewed composition of the Board of Directors.

The new composition of the Board is as follows:

Sergey V. Dokuchaev  —  Chairman of the Board

Natalia V. Opaleva  —  Member of the Board

Valerian A. Tikhonov  —  Member of the Board

German R. Pikhoya  —  Member of the Board

Nikolay V. Gavrilov — Independent Director

Sergey G. Popov — Independent Director

Lou Naumovski — Independent Director

Alexey D. Gnedovskiy  —  Independent Director

Vladislav I. Barshinov  —  CEO

Consequently, the Board consists of nine members, including four independent directors. The CEO of GV Gold Vladislav I. Barshinov joined the Board.

Within the framework of the Annual General Shareholders Meeting, the Annual Report and the annual financial statements of the Company for 2020, the Regulations on the Board of Directors, as well as the Company’s external auditor – Pricewaterhousecoopers Audit, were approved.

Besides, the Annual General Shareholders Meeting also made a decision to distribute RUB 7.2 B in the form of the dividends for 2020, including RUB 2.7 B from the net profit of the financial year of 2020 and RUB 4.5 B from the undistributed profit of the previous periods. Taking into account the dividends for 6m 2020 and 9m 2020 in the amount of RUB 81.842 per one ordinary share or RUB 4.5 B paid earlier, in July 2021 the shareholders will be paid RUB 48.532 per one ordinary share or RUB 2.7 B. Additional decision on payment of the dividends for Q1 2021 in the amount of RUB 16.706 per one ordinary share or RUB 919 M was made as well.

Company Profile

GV Gold (Vysochaishy, PJSC) is one of the largest and fastest growing Russian gold mining companies. It develops open pit deposits and washes gold at the country’s largest alluvial deposit. In 2020, its assets produced 272 koz of gold.

GV Gold’s key operating assets are located in the Irkutsk Region and the Republic of Sakha (Yakutia). The Company operates four mines with a total capacity of 10.5 Mtpa of ore and holds 38 mining and exploration licenses.

GV Gold boasts an extensive resource base, with JORC reserves and resources estimated at 5.3 Moz and 10.8 Moz, respectively.