OREANDA-NEWS. October 06, 2011. JSC "Polymetal" (LSE, MICEX, RTS: PMTL) ("Polymetal" or the "Company") announces that the Company's Board of Directors (the "Board") has approved that Mr. Vitaly Nesis, CEO of the Company, can simultaneously hold positions of CEO and Director of Polymetal International Plc, a company incorporated in Jersey, Channel Islands, reported the press-centre of Polymetal.

The Board has also resolved to amend the Company's employee incentive programme (the "Programme") regulations. According to the amended regulations, the Company's employees may become entitled to shares in a new holding company for Polymetal to the extent of their respective share entitlements approved by Polymetal's Board earlier.

POLYMETAL ESOP LIMITED, Polymetal's subsidiary, as an operator of the Programme  will take all necessary actions required for the implementation of the Programme and shall be responsible for day-to-day administration of the Programme, including, inter alia, information and technical support to the participants.

Further details in relation to the Programme can be found in the announcements made by the Company on September 2 and November 9, 2010, and on September 21, 2011.