In the light of recent developments, and in the interests of preserving shareholder value, the Board and the Special Committee have decided to consider all possible options available for divestment of JSC Polymetal and its subsidiaries.
The Company’s Board comprises:
- Non-executive Chair,
- 1 executive Director,
- 7 non-executive Directors.
Excluding the Chair, six members of the Board are independent non-executive Directors.
The Company’s corporate governance framework safeguards against any conflict of interest, including the complete independence of the Audit and Risk, Nomination and Remuneration Committees and disclosure of any related party transactions in the financial statements, as well as preventing any individual from having unfettered powers of decision-making.
The Company considers that the Board and its Committees have the appropriate balance of skills, experience, independence and knowledge of the Company to enable them to discharge their respective duties and responsibilities effectively. All Directors have access to the advice and services of the Company Secretary, and are able to take independent professional advice, if necessary, at the Company’s expense.
The Board has approved the division of responsibilities between the Chair and the Group CEO and defined the role of the The Senior Board Independent Director.