Petropavlovsk : TR1

6 July 2017 Petropavlovsk PLC TR 1

Petropavlovsk PLC (the "Company") announces that it has been notified yesterday by Mr. Peter Hambro, former Chairman, of the information set out in the attached TR1.

Mr. Hambro was party to a put and call option over 131,830,466 Ordinary Shares of £0.01 in the Company (the "Shares") and also had the ability to exercise voting rights over these Shares (the "Option"). The Option has lapsed on 30 June 2017, with neither party choosing to exercise their put and call. The voting rights that Mr. Hambro had over the Shares also lapsed on that date. Mr. Hambro wished to inform the Company that he is in discussions regarding the entry into a new option agreement consisting of a put, call and voting rights in respect of Petropavlovsk shares.

Commenting on the statement Dr. Pavel Maslovskiy, CEO, said:

"I am honoured that the co-founder of Petropavlovsk and my business partner of many years Mr. Hambro intends to maintain his investment in the Company. We are grateful for his continued support and faith in the business."

About Petropavlovsk

Petropavlovsk is one of Russia's leading gold mining companies. As at 31 December 2016, the Company had produced approximately 6.4Moz of gold.

Petropavlovsk is in the construction phase of a state of the art pressure oxidation facility to process the Company's substantial refractory resource base. The Company's combined 3,600km2 license holding has untapped resource potential. The Company is a leading employer and contributor to the development of the local economy in the Amur region, Russian Far East, where it has operated since 1994.

Petropavlovsk is a shareholder (31.1%) of IRC Limited and is the guarantor of the US$340 million project finance facility (US$234 million principal outstanding, as at 31 December 2016). IRC is a vertically integrated iron ore producer and developer in the Russian Far East and North Eastern China. IRC is listed on the Hong Kong Stock Exchange (Ticker: 1029.HK).

Petropavlovsk is listed on the Main Market of the London Stock Exchange (Ticker POG:LN)

Enquiries

For more information, please visit www.petropavlovsk.net and www.ircgroup.com.hk or contact:

Petropavlovsk PLC Alya Samokhvalova Grace Hanratty

[phone]

[e-mail]

Maitland Neil Bennett James Isola

[phone]

[e-mail]

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:			Petropavlovsk PLC Company number: 4343841
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii: Expiry of option providing control over voting rights					X
3. Details of person subject to the notification obligationiv
Name			Peter Hambro
City and country of registered office (if applicable)			London, c/o Peter Hambro Limited, 10-11 Grosvenor Place, SW1X 7HH
4. Full name of shareholder(s) (if different from 3.)v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reachedvi:			30 June 2017
6. Date on which issuer notified (DD/MM/YYYY):			5 July 2017
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)	Total of both in % (8.A + 8.B)	Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached	Below 3%	Below 3%	Below 3%	Below 3%

Position of previous notification (if applicable)

Below 3%

4.02%

4.64%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)	Number of voting rightsix		% of voting rights
	Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)	Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)	Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)	Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
GB0031544546	Below 3%	Nil	Below 3%	Nil
SUBTOTAL 8. A	Below 3%		Below 3%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial	Expiration	Exercise/	Number of voting rights	% of voting rights
			that may be acquired if
instrument	datex	Conversion Periodxi	the instrument is
			exercised/converted.
SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration datex	Exercise/ Conversion Period xi	Physical or cash settlementxii	Number of voting rights	% of voting rights

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii				X
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)
Namexv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional informationxvi

Mr. Hambro, the person subject to the notification obligation, only held a notifiable obligation in view of the existence of the option over Petropavlovsk shares which has now expired and to the expiry of which this notification relates. Now that the option has expired Mr. Hambro no longer has a notification obligation.