Ferrexpo AG launches legal proceedings (1906U)
19 12월 2011 - 4:00PM
UK Regulatory
TIDMFXPO
RNS Number : 1906U
Ferrexpo PLC
19 December 2011
19 December 2011
Ferrexpo plc
("Ferrexpo", the "Group" or the "Company")
Ferrexpo AG launches legal proceedings in the UK relating to the
Ferrexpo Poltava Mining shareholder dispute
As noted in the Group's IPO and Eurobond prospectuses, there is
a dispute with Gilson Investments Limited and other related
companies ("Gilson and co.") in the Ukrainian courts which
commenced in 2005.
Ferrexpo plc wishes to announce that its wholly owned Swiss
subsidiary, Ferrexpo AG, has launched legal proceedings against
Gilson and co. in the UK High Court, in order to take an active
step outside the Ukraine to resolve this long-running dispute. The
initial hearing, which is due to take place in early February 2012,
will be on jurisdictional issues.
The board of directors of Ferrexpo has received legal advice
that the Ukrainian proceedings are without merit.
The Company will update the market as necessary.
For further information, please contact:
Ferrexpo:
Ingrid McMahon +44 207 389 8304
Pelham Bell Pottinger
Mark Antelme +44 207 861 3894
Lorna Spears +44 207 861 3883
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine. It is principally involved in the production and export
of high quality iron ore pellets, which are used in the manufacture
of steel. Ferrexpo's resource base is one of the largest iron ore
deposits in the world. Its current producing asset, FPM, produced
approximately 10 million tonnes of iron ore pellets in 2010 making
it the largest exporter of pellets in the CIS. The Company has a
diversified customer base supplying steel mills in Austria, Serbia,
Slovakia, Czech Republic, Germany and other European states, as
well as in China, India, Japan, and other Asian countries. Ferrexpo
is listed on the main market of the London Stock Exchange under the
ticker FXPO. For further information, please visit
www.ferrexpo.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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