Response to letter from CABS Platform Limited ("CABS") and Slevin Ltd ("Slevin")
The Company has received letters from CABS, dated 13 June 2018, and from Slevin, dated 11 June 2018, in response to the letters sent by the Company dated 8 June 2018 requesting that CABS and Slevin rectify deficiencies in their responses dated 20 May 2018 and 1 June 2018, respectively and reveal to the Company any agreements or arrangements that exist in relation to the exercise of the voting rights of the Company.
CABS is a 4.55% shareholder in Petropavlovsk PLC which together with Slevin, a 4.55% shareholder have requisitioned resolutions at the Company's AGM. The proposed resolutions are to remove the entire Board, which is compliant with the UK Corporate Governance Code, and elect three former directors which the Board considers are not independent.
The letters reveal that the natural persons, shell companies and trusts behind CABS and Slevin are located or registered in Liechtenstein, British Virgin Islands (Tortola), Cyprus, Latvia, Russia, West Indies (Nevis and Anguilla) and Gibraltar.
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