{"id":83187,"date":"2018-06-18T21:28:07","date_gmt":"2018-06-18T21:28:07","guid":{"rendered":"http:\/\/www.bnreport.com\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/"},"modified":"2018-06-18T21:28:07","modified_gmt":"2018-06-18T21:28:07","slug":"under-fire-petropavlovsk-board-receive-support-from-advisory-groups","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/","title":{"rendered":"Under fire Petropavlovsk board receive support from advisory groups"},"content":{"rendered":"

<\/p>\n

The embattled board of gold miner Petropavlovsk has received support from two influential advisory groups in the face of shareholder attempts to oust it.<\/p>\n

The board has been backed by advisory groups ISS and Glass Lewis which recommend that shareholders vote for the existing board and oppose the attempts to remove it.<\/p>\n

Last month, shareholders called Cabs Platform and Slevin, which together hold 9.11 per cent of the business, called the return of former directors Pavel Maslovskiy, Roderic Lyne and Robert Jenkins.<\/p>\n

Read more<\/strong>: Petropavlovsk's second largest shareholder warns against boardroom overhaul<\/a><\/p>\n

In its report Glass Lewis criticised what it called the \u201cdissidents\u201d for a lack of concrete arguments for ejecting the current board, noted the short-term nature of their investment and queried the lack of transparency as to who the ultimate controllers of Cabs and Slevin are.<\/p>\n

The dissidents argue that the current board has underperformed with Petropavlovsks share price stagnating despite strong market growth in gold.<\/p>\n

ISS said: \u201cThe arguments put forward by the requisitioning shareholders, Cabs and Slevin, in their brief letter to the board lack substance. The fact that the requisitionists have not disclosed their beneficial owners also raises significant concerns about their true intentions.\u201d<\/p>\n

Read more<\/strong>: Petropavlovsk row heats up as employees voice support for old guard<\/a><\/p>\n

Lyne, the dissidents chairman of choice, said: \u201cThe proxy agencies have not yet spoken to the proposed board, which has plans to restore effective leadership and momentum to Petropavlovsk and develop the companys long term future. They should have a complete picture before making their final recommendations. The proposed management team and requisition shareholders stand ready to talk to them at any time. The key is to deliver better value to the shareholders and assure the companys future\u201d<\/p>\n

Separately, reports in the Russian media this weekend suggested that Petropavlovsk was looking to sell a key processing plant and development project.<\/p>\n

The pressure oxidation plant (Pox) is due to go into operation later this year.<\/p>\n

Chief executive Roman Deniskin denied any plans to sell the assets.<\/p>\n

Read more<\/strong>: Major shareholder accuses Petropavlovsk board of 'totally opaque' mentality<\/a><\/p>\n

\u201cPox is not for sale. I and the board have been very clear about our strategy to build value for all stakeholders \u2013 namely to harness the considerable value of our asset portfolio. Having recently visited our operations last week, I can confirm that commissioning of Pox remains on track and within budget for Q4 2018, which will allow Petropavlovsk to monetise our considerable refractory reserve base, and produce low cost gold ounces on a long term and sustainable basis,\u201d he said.<\/p>\n

Petropavlovsks annual general meeting is due to be held on 29 June.<\/p>\n

<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The embattled board of gold miner Petropavlovsk has received..<\/p>\n","protected":false},"author":1,"featured_media":83188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-83187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nUnder fire Petropavlovsk board receive support from advisory groups - Business News Report<\/title>\n<meta name=\"description\" content=\"The embattled board of gold miner Petropavlovsk has received..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Under fire Petropavlovsk board receive support from advisory groups - Business News Report\" \/>\n<meta property=\"og:description\" content=\"The embattled board of gold miner Petropavlovsk has received..\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/\" \/>\n<meta property=\"og:site_name\" content=\"Business News Report\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-18T21:28:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bnreport.com\/wp-content\/uploads\/2018\/06\/americans-invest-in-gold-1717132-5b27d3fa1f16f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"infopal11\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BNReport\" \/>\n<meta name=\"twitter:site\" content=\"@BNReport\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"infopal11\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/\"},\"author\":{\"name\":\"infopal11\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/19d1c5a2dd7f60584a09de4a7805d68f\"},\"headline\":\"Under fire Petropavlovsk board receive support from advisory groups\",\"datePublished\":\"2018-06-18T21:28:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/\"},\"wordCount\":448,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/americans-invest-in-gold-1717132-5b27d3fa1f16f.jpg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/\",\"name\":\"Under fire Petropavlovsk board receive support from advisory groups - Business News Report\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/americans-invest-in-gold-1717132-5b27d3fa1f16f.jpg\",\"datePublished\":\"2018-06-18T21:28:07+00:00\",\"description\":\"The embattled board of gold miner Petropavlovsk has received..\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/americans-invest-in-gold-1717132-5b27d3fa1f16f.jpg\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/americans-invest-in-gold-1717132-5b27d3fa1f16f.jpg\",\"width\":960,\"height\":600},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629\",\"item\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Under fire Petropavlovsk board receive support from advisory groups\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"name\":\"Business News Report\",\"description\":\"Latest News on the World of Politics & Business\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\",\"name\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"width\":200,\"height\":50,\"caption\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/Business-NewsReport-328225811095934\\\/\",\"https:\\\/\\\/x.com\\\/BNReport\",\"https:\\\/\\\/www.instagram.com\\\/business.newsreport\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/19d1c5a2dd7f60584a09de4a7805d68f\",\"name\":\"infopal11\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/author\\\/infopal11\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Under fire Petropavlovsk board receive support from advisory groups - Business News Report","description":"The embattled board of gold miner Petropavlovsk has received..","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/","og_locale":"en_US","og_type":"article","og_title":"Under fire Petropavlovsk board receive support from advisory groups - Business News Report","og_description":"The embattled board of gold miner Petropavlovsk has received..","og_url":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/","og_site_name":"Business News Report","article_publisher":"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","article_published_time":"2018-06-18T21:28:07+00:00","og_image":[{"width":960,"height":600,"url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2018\/06\/americans-invest-in-gold-1717132-5b27d3fa1f16f.jpg","type":"image\/jpeg"}],"author":"infopal11","twitter_card":"summary_large_image","twitter_creator":"@BNReport","twitter_site":"@BNReport","twitter_misc":{"Written by":"infopal11","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/#article","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/"},"author":{"name":"infopal11","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/19d1c5a2dd7f60584a09de4a7805d68f"},"headline":"Under fire Petropavlovsk board receive support from advisory groups","datePublished":"2018-06-18T21:28:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/"},"wordCount":448,"commentCount":0,"publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2018\/06\/americans-invest-in-gold-1717132-5b27d3fa1f16f.jpg","articleSection":["Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/","url":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/","name":"Under fire Petropavlovsk board receive support from advisory groups - Business News Report","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/#primaryimage"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2018\/06\/americans-invest-in-gold-1717132-5b27d3fa1f16f.jpg","datePublished":"2018-06-18T21:28:07+00:00","description":"The embattled board of gold miner Petropavlovsk has received..","breadcrumb":{"@id":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/#primaryimage","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2018\/06\/americans-invest-in-gold-1717132-5b27d3fa1f16f.jpg","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2018\/06\/americans-invest-in-gold-1717132-5b27d3fa1f16f.jpg","width":960,"height":600},{"@type":"BreadcrumbList","@id":"https:\/\/www.bnreport.com\/en\/under-fire-petropavlovsk-board-receive-support-from-advisory-groups\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629","item":"https:\/\/www.bnreport.com\/en\/"},{"@type":"ListItem","position":2,"name":"Under fire Petropavlovsk board receive support from advisory groups"}]},{"@type":"WebSite","@id":"https:\/\/www.bnreport.com\/en\/#website","url":"https:\/\/www.bnreport.com\/en\/","name":"Business News Report","description":"Latest News on the World of Politics & Business","publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bnreport.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.bnreport.com\/en\/#organization","name":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a","url":"https:\/\/www.bnreport.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","width":200,"height":50,"caption":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","https:\/\/x.com\/BNReport","https:\/\/www.instagram.com\/business.newsreport"]},{"@type":"Person","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/19d1c5a2dd7f60584a09de4a7805d68f","name":"infopal11","url":"https:\/\/www.bnreport.com\/en\/author\/infopal11\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/83187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/comments?post=83187"}],"version-history":[{"count":0,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/83187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media\/83188"}],"wp:attachment":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media?parent=83187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/categories?post=83187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/tags?post=83187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}