Omani investor gets representative on Polymetal board of directors

ASTANA. March 29 (Interfax) - Polymetal International plc has welcomed a new addition to its board of directors, Omar Mahmood Mohamed Bahram, who joins as a non-executive director, the gold and silver miner said.

The appointment was proposed by the company's major shareholder Maaden International Investment and approved by the board.

The board now consists of seven members, including five independent non-executive directors, a non-executive director, and an executive director.

Omar Bahram has over 13 years of experience in M&A, transactions and legal advisory. He currently holds the position of the Chief Executive Officer at UzOman Investment Company - Central Asia focused fund of Oman Investment Authority managing a diversified portfolio and private equity investments in the region. Prior to this role, Bahram was a legal advisor at OIA leading major international transaction negotiations, closing and targeting exits to achieve the privatisation strategy goals of OIA.

"We welcome Mr Bahram to the board. His experience in our focus region and support from the major shareholder accompanied by his professional background in corporate development represent an excellent fit for the Board profile. We are looking forward to our effective cooperation in reshaping and implementing the company's strategy," said Evgueni Konovalenko, Senior Independent Non-Executive Director.

After the sale of its Russian business, Polymetal retains its position as the second-largest gold producer in Kazakhstan. Its assets in the country include the operational Kyzyl and Varvara mines, along with the development project, Irtysh MMC. Notably, Polymetal's largest shareholder is a consortium of Omani investors led by the Omani government-owned Mercury Investments International, holding a 23.9% stake with Maaden International Investment being its subsidiary.