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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Petropavlovsk PLC    POG   GB0031544546

PETROPAVLOVSK PLC (POG)
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Petropavlovsk and IRC Granted Payment Waiver by Lender

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06/20/2018 | 08:55am CEST

By Oliver Griffin

Petropavlovsk said on Wednesday that Industrial & Commercial Bank of China Ltd. (1398.HK) has granted it and its investee company IRC waivers from an obligation to comply with certain financial covenants.

The Russian gold mining company said that ICBC agreed to waive payments owed by Kimkano-Sutarsky Mining and Beneficiation Plant LLC, a wholly owned subsidiary of IRC, relating to its $340 million financing agreement with the Chinese bank.

Petropavlovsk said the waivers will be effective on fulfillment of certain unspecified conditions precedent, and will continue until Dec. 31, 2018.

The company said it is now working with IRC and all the involved parties to ensure that the conditions precedent are fulfilled.

Further announcements will be made in due course, Petropavlovsk said.

Write to Oliver Griffin at oliver.griffin@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
GOLD 0.23% 1202.2 Delayed Quote.-8.00%
INDUSTRIAL AND COMMERCIAL BANK OF CHINA 0.93% 5.43 End-of-day quote.-13.06%
IRC LIMITED 11.11% 0.1 End-of-day quote.-62.26%
PETROPAVLOVSK PLC 5.00% 6.3 Delayed Quote.-18.71%
PLATINUM 0.41% 818.36 Delayed Quote.-14.34%
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Financials ($)
Sales 2018 452 M
EBIT 2018 102 M
Net income 2018 69,0 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 5,52
P/E ratio 2019 2,76
Capi. / Sales 2018 0,61x
Capi. / Sales 2019 0,43x
Capitalization 274 M
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Mean consensus HOLD
Number of Analysts 4
Average target price 0,13 $
Spread / Average Target 62%
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Managers
NameTitle
Pavel A. Maslovskiy Chief Executive Officer & Director
Robert John Garton Jenkins Non-Executive Chairman
Dmitry Chekashkin Chief Operating Officer
Alexey Dubynin Chief Financial Officer
Roderic Lyne Director
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