Please note that https://solidcore-resources.com/ is the only official URL of Solidcore Resources plc.
Other websites, even if they resemble the official ones and/or contain full or a part of the Company’s name in their URL, do not relate to Solidcore Resources plc or its subsidiaries.
Apart from the shares, the Company has not issued any other publically traded securities or financial instruments including tokens.
Solidcore Resources plc does not have any official accounts in social media except of LinkedIn. Any statements purportedly provided on behalf of a company is deliberate misrepresentation.
Sanctions impact on business
Solidcore Resources is not subject to any sanctions. On 11 March 2024, the Company has completed the divestment of Solidcore Group’s Russian business by way of disposal of 100 per cent of the Solidcore share capital.
Shareholder information
The information could be found at the link. The nominal value of the issued share capital is calculated as the product of the issued share capital and the nominal value of one share.
Company’s shares are listed on Astana International Exchange (ticker: CORE, ISIN: JE00B6T5S470).
On 24 June 2024, the Company has served an application to delist the Company’s shares from the Moscow Exchange. Relevant press-release can be found at the link.
As of today, AIX remains as the Company’s primary stock exchange.
It is ordinary shares of Solidcore Resources plc (ticker: POLY, ISIN: JE00B6T5S470). They are not related to the previously divested JSC Polymetal. Shares of JSC Polymetal are not publicly traded and are not related to Solidcore after the divestment of Russian business.
AIX Registrar maintains the name, address and holding details for all Solidcore shareholders. If you have a query about your physical share certificates or nominee holding please contact AIX Registrar at registrar@aix.kz.
In order to buy shares, you will need to contact your chosen brokerage firm with access on AIX, open an account with them and choose the shares you would like to invest in.
No. If you would like to purchase shares, please, contact your brokerage firm.
On 2 November 2011, Solidcore Resources with its former name of Polymetal International plc was admitted to trading on the Official List of the London Stock Exchange raising US$ 763m from the IPO.
On 29 August 2023, the Company’s shares were delisted from LSE following the Company’s redomiciliation to Kazakhstan. Relevant press-release can be found at the link.
On 17 June 2013, Solidcore became the first foreign issuer of shares to be included to MICEX index (MOEX).
On 24 June 2024, the Company served an application to delist the Company’s shares from the Moscow Exchange. Relevant press-release can be found at the link.
In April 2019, Solidcore was listed on the Astana International Exchange (“AIX”) in Kazakhstan. As of today, AIX remains as the Company’s primary stock exchange.
Detailed information of Solidcore’s shareholder structure can be found at the link.
ADR programme was terminated. The Depositary, BNY Mellon, has closed its books for all transactions including conversion.
Termination notice: https://www.adrbnymellon.com/files/ad1135307.pdf
Securities and dividends
The Company has only one type of listed securities — ordinary shares.
In June 2024, after careful investigation, the Company’s management and Board came to the decision that no dividend should be proposed until Ertis POX construction is completed, which is expected to be in the first half of 2028.
As of today, Solidcore does not have a dividend policy. New dividend policy will be adopted after full-ramp of Ertis POX. The decision is formed with the aim of de-risking the business during the construction of Ertis POX.
Solidcore’s last dividend was the interim dividend for the 1H 2021 paid on 30 September 2021 in the amount of US$ 0.45 per share.
Shareholders must declare income on foreign shares and pay income tax themselves. Some brokers, however, withhold income tax when transfer dividends to a shareholder account. The availability of this option must be confirmed with your own broker.
On 3 June 2022, the EU imposed sanctions on NSD, which effectively blocked the operations between Euroclear and NSD. As a result of such sanctions, prior to the First Exchange Offer, Shareholders holding approximately 22% of the Company’s issued share capital were unable to take part in any corporate actions of the Company and/or receive dividends (the “Affected Shares”). This prevented the Company from being able to carry out certain corporate actions with the involvement of a significant part of its shareholder base.
Approximately 14% of the Company’s Shares were not eligible to participate in the First Exchange Offer although were affected, and therefore continue to be impacted by the restrictions imposed even though the shareholders themselves might not be subject to an asset freeze insofar as the Company is aware.
On 23 November 2023, the Board announced its intention to conduct second exchange offer. The Second Exchange Offer invites Shareholders whose rights are affected by the sanctions imposed on National Settlement Depository (“NSD”) and other Russian depositories, subject to fulfilling eligibility criteria, to tender their Eligible Shares for exchange in consideration for the issue of Exchange Shares on a one-for-one basis.
Please note that the last date to tender Eligible Shares is 30 September 2024.
More details on the Exchange Offer could be found in the press release here.
You can continue to trade on MOEX if a broker allows so, although you are not able to take part in corporate actions (see above).
The Board and the management strongly believe that share buy-backs are presently inappropriate given short-term liquidity challenges, grave business uncertainties, and NSD challenges outlined above which make it impossible to offer buyback on equal terms to the Astana International Exchange and the Moscow exchange.
Strategy
On 11 June 2024, Solidcore announced its new post-rebranding strategy. More details can be found at the link.
The company’s geographical area of interest is Central Asia, Saudi Arabia and Oman.
Solidcore’s policy is based on a no-hedge strategy. The company prefers to have full exposure to the upside in metal price.
ESG
Solidcore annually discloses qualitative and quantitative information on ESG in the Sustainability Chapter of Integrated Report which is prepared in accordance with the GRI SRS and SASB Standard and is aligned with TCFD recommendations. Our recent sustainability disclosure and all related data on Solidcore’s assets in Kazakhstan are assured by Ernst & Young Advisory LLP.
In the Integrated Annual Report 2023, sustainability-related information is presented for the entire Group as it stood prior to disposal of Russian assets in March 2024 with detailed sustainability figures for Solidcore’s assets in Kazakhstan presented in the Sustainability data annex.
For detailed historical quantitative data on the sustainability performance of Solidcore Resources plc and its current asset portfolio, you can also download our Sustainability Datapack.
All of the above can be found in the Data Center via the link.
Our Code of Conduct, as well as Human Rights, Community Engagement, Environmental, Climate, Health and Safety, Anti-Bribery and other policies are available at our website.
We have identified key impact areas of mining and we are working to maximise our positive and minimise any negative impacts, aligning them to the UN Sustainable Development Goals and setting targets to measure our progress. Explore our Impact and the UN SDGs Report via the link.
To date, there have been no environmental accidents involving tailings facilities at the Company’s operations. Our investigations confirmed that any emergency failure at our dams would have no impact on settlements, buildings, structures or facilities where communities or employees may be present.
To eliminate any environmental risks related with tailings, each TSF undergoes rigorous daily monitoring and inspection, including checks on pipelines, pump stations, water levels and dams. Management reviews their current state monthly, while government agencies regularly assess compliance with safety regulations.
We are dedicated to ensuring that all our operations related to TSFs comply with the Global Industry Standard on Tailings Management (GISTM), and highly value the initiatives of the Global Tailings Management Institute in enhancing environmental sustainability and advocating for best practice within the mining industry. In accordance with the GISTM, we have implemented a Tailings and Hydraulic Facilities Management Policy and appropriate internal standards across all our facilities with TSFs, incorporating the fundamental principles outlined by GISTM. Additionally, we conduct annual reporting with detailed information on the status of our TSFs, which is available in our Integrated Report 2023.
Evaluation of climate risks is an integral part of our strategy and decision-making across project life cycles, from scoping to operations and reclamation. The risk analysis complies with recent TCFD guidance, and includes three climate scenarios that correspond to the baseline goals of the Paris Agreement.
The key physical risks for Solidcore associated with heat or cold waves, hurricanes and water scarcity. We are particularly attentive to these risks and, to address them, we have adopted a comprehensive Climate Action Plan covering all our assets in Kazakhstan. At the same time, climate risks associated with permafrost are currently not relevant for Solidcore due to the disposal of Russian business and all the permafrost-located assets.
As of the end of 2023 and in the short term, the current impact of climate-related issues on the financial position of the Company, based on the results of scenario analysis, is assessed as insignificant and does not exceed 1% of Adjusted EBITDA.
For more information on our relevant climate-related risks and Climate Action Plan, please see our recent Integrated Report.