PROSPERITY-CAPITAL
23.7.2020 09:02:12 CEST | Business Wire | Press release
Prosperity Capital Management (“Prosperity”), a leading Russia-focused asset manager controlling approximately 20 per cent of the outstanding share capital of Petropavlovsk PLC (“the Company”), announces that it has made a submission to The Takeover Panel regarding a potential breach of Rule 9 of the Takeover Code (the "Code") by Everest Alliance Limited, JSC Uzhuralzoloto Group of Companies (“UGC”) and a number of other shareholders (together the “Concert Parties”) who collectively own more than 30% of the Company’s outstanding share capital.
Prosperity believes that the Concert Parties have acted together to seek control of the Company’s board and its management.
Prosperity’s submission to The Takeover Panel is made in the context of Petropavlovsk’s upcoming Extraordinary General Meeting (“EGM”), where the Concert Parties have sought to remove all directors appointed by other shareholders at the EGM and to appoint two new directors to add to the four that they appointed at the Company’s Annual General Meeting on 30 June 2020.
The submission is also made in connection with UGC’s recently announced intention to convert its Petropavlovsk’s convertible bonds into shares, increasing the Concert Parties’ shareholding.
Prosperity believes that the Concert Parties’ actions create significant risk for Petropavlovsk’s shareholders by seeking in effect to take over the Company without launching a formal bid or paying a control premium and by putting its Premium Listing status at risk.
Due to concerns about the potential harm that these actions will cause Petropavlovsk and its shareholders, Prosperity are nominating a number of candidates to be added to the Board at the Company’s forthcoming EGM with the intention of stabilising, strengthening, and improving its independence.
About Prosperity Capital Management
Founded in 1996, Prosperity Capital Management is a leading Russia-focused asset manager controlling assets of around USD 4 billion on behalf of pension funds, endowments, foundations, family offices, sovereign wealth funds and high net worth individuals from across Europe, North America, Middle East and Australasia. The firm employs a long-term, fundamental value, active and engaged shareholder approach to access the public equity investment opportunity amongst Russian and Former Soviet Union companies.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200723005166/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CAIRDAC Announces the Appointment of Raymond W. Cohen as Chairman of its Board of Directors24.9.2026 09:49:00 CEST | Press release
CAIRDAC, SA, a pre-revenue stage medtech company developing a leadless, self-powered cardiac pacemaker (Autonomous Leadless Pacing System), today announced the appointment of Raymond W. Cohen as chairman of its board of directors. “We are thrilled to welcome Mr. Cohen to the CAIRDAC board of directors,” said Edouard Fonck, Chief Executive Officer of CAIRDAC, “Ray’s extensive track record in leading, scaling and exiting medical technology companies will, no doubt, be invaluable as we advance this exciting project.” Mr. Cohen, an accredited public company director and accomplished medical technology executive, has over four decades of medtech industry experience. He was the co-founder and CEO of Axonics, Inc. (Nasdaq: AXNX) a global leader in implantable neuromodulation devices that completed its initial public offering in 2018. Under his leadership, Axonics was recognized as the fastest-growing technology company in North America generating over $1.2 billion in revenue in the four years
Glass Lewis and Clarity AI Join Forces to Integrate Sustainability, Governance and Stewardship24.9.2026 09:30:00 CEST | Press release
Integrated platform will connect investment and stewardship decisions through trusted data, AI analytics, and technology Glass Lewis and Clarity AI today announced their combination, merging Clarity AI’s advanced technology, deep sustainability data, AI analytics, and strong European market presence with Glass Lewis’ global expertise across corporate governance, proxy voting and investment stewardship. The strategic combination significantly expands the firms’ ability to serve European institutional investors and companies through enhanced local market expertise, broader sustainability capabilities and faster product development that addresses Europe’s evolving regulatory and stewardship requirements. The integrated platform fills a solutions gap as institutional investors increasingly seek to bring together investment analysis, sustainability, governance, engagement and voting rather than manage them through separate systems, datasets and workflows. At the same time, companies are con
Wolters Kluwer integrates Libra AI workflows into monKEY for Belgian tax professionals24.9.2026 09:00:00 CEST | Press release
The add-in of Libra by Wolters Kluwer brings AI capabilities directly into monKEY’s trusted tax research environment and marks an important milestone in further expanding Libra’s presence across different customer segments Wolters Kluwer Legal & Regulatory today announced the integration of Libra AI workflows in monKEY, its research platform for tax professionals in Belgium. The add-in of Libra by Wolters Kluwer enables customers to directly access Libra’s AI capabilities from the trusted research environment in monKEY, combining generative AI with tax research based on long-trusted expert content. “By integrating Libra into monKEY, we are taking another important step towards connected, AI-powered workflows for our customers,” said Rimco Spanjer, Vice President & Managing Director, Wolters Kluwer Legal & Regulatory Benelux. “We are bringing together the power of AI and the trusted, up-to-date tax content professionals rely on every day. This helps them reach relevant insights faster w
SES Advances Satellite Manufacturing Facility in Luxembourg24.9.2026 08:50:00 CEST | Press release
New facility marks a major milestone in SES' transformation and redefinition of traditional space industry models, designed to accelerate innovation, optimization of supply chain, and expansion of SES’s solutions portfolio SES, a space solutions company, has commenced construction of a new satellite manufacturing facility in Kockelscheuer, Luxembourg, marking a major milestone in the company’s vertical integration and business model evolution. The facility will enhance SES’ ability to design, develop and manufacture critical satellite technologies, accelerating the deployment of next-generation satellite networks and secure communications solutions. It will also help create a hub for innovation and enable SES partners and ecosystem with opportunities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260923560183/en/ SES Advances Satellite Manufacturing Facility in Luxembourg The new facility in Kockelscheuer is at the center o
NTT DOCOMO BUSINESS Launches “Pro”, a New docomo business SIGN® Offering for Large-Scale Global Connected Products24.9.2026 04:00:00 CEST | Press release
Enhanced Operational Capabilities Through Centralized IoT Connectivity Management, Plus Support for the SGP.32 eSIM Standard NTT DOCOMO BUSINESS, Inc. (formerly NTT Communications Corporation) announced today the launch of "Pro," a new offering in the docomo business SIGN®1 lineup, an IoT-focused Network as a Service (NaaS) with built-in security features. Designed to support the large-scale and global deployment of connected products, “Pro” helps customers manage and operate tens of thousands of IoT connections. The service will be available from March 2027. This new offering addresses the challenges of achieving more advanced operational management through the centralized management of domestic and international IoT connectivity, operational automation, and system integration, while also enhancing security. It will reduce the operational burden on customers while supporting the continued delivery of value through connected products and services. 1. Background In recent years, against
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom