POLYUS BOARD FAILS TO APPROVE TRANSFER OF 'RISKY' EXPLORATION ASSETS TO SUBSIDIARY

摘要

The board of directors of Polyus Gold, Russia's biggest gold producer, could not make a decision concerning the transfer of "risky" exploration projects to subsidiary Polyus Exploration because it lacked a quorum. "This step was essentially approved by the board of directors when the business plan was considered. Certain legal steps were mapped out within the context of these decisions, one of which was put up for a vote at this board meeting. But the decision was not made because of the lack of a quorum," Polyus CEO Yevgeny Ivanov told Interfax on November 22.