Nordgold Publishes 2013 Integrated Report
Amsterdam, Netherlands, April 22, 2014 - Nord Gold N.V. (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified, pure-play gold producer strategically focused on emerging markets, is pleased to announce that its Integrated Report for the year ended December 31, 2013, which includes Financial Statements, Annual Report and Sustainability Report, is now available on the Company's website at www.nordgold.com
Nordgold has submitted the 2013 Integrated Report to the UK National Storage Mechanism and the Irish Stock Exchange.
Nordgold’s dividend policy is to target a payout ratio of 30% of the pro-forma underlying profit attributable to shareholders. The application of this policy would have generated a payout of US$29.3 million for the year ended December 31, 2013. As Nordgold has already declared and paid US$29.7 million in interim dividends to shareholders in respect of 2013, the Board of Directors has decided not to recommend any further or final dividend for the year ended December 31, 2013 at the Annual General Meeting.
Nordgold also announces that, having served a number of years as Chief Financial Officer and member of the Board of the Company, Mr. Sergey Zinkovich has notified the Company that he has decided to step down from the Board in order to take up another executive appointment and will resign from Nordgold with effect from May 14, 2014.
The Board would like to thank Sergey for the outstanding contribution he has made to Nordgold since the company was established in 2007 and wish him every success in his future career.
Whilst the Board is seeking to make a permanent appointment, Mr. Dmitry Guzeev, who is currently the Head of Corporate Reporting at Nordgold, will be appointed Acting Chief Financial Officer of Nordgold, as of May 14, 2014.
Dmitry joined Nordgold in July 2013. Prior to joining Nordgold, Dmitry was the Head of Corporate Reporting of SIBUR, Russia’s largest gas processing business and a leader in the Russian petrochemicals industry, where he established and developed the IFRS function and was a leading IFRS expert supporting complex corporate transactions. He also gained previous experience with Deloitte and Arthur Andersen. Dmitry holds a Degree in International Economics from the State Finance Academy (Russia).
Nordgold (LSE: NORD) is a pure-play emerging-markets gold producer established in 2007. The Company has expanded rapidly through acquisitions and organic investment, achieving a rate of growth unmatched in the industry during that period. In 2013 Nordgold’s gold production was 924.4 koz, up from 717 Koz in 2012.
The company operates 9 active mines and has one development project, 5 advanced exploration projects and a diverse portfolio of early exploration projects and licenses in Russia, Kazakhstan, Burkina Faso, Guinea and French Guiana. Nordgold employs about 10,000 people.