Ferrexpo PLC Independent Review Update (2741T)
19 3월 2019 - 4:02PM
UK Regulatory
TIDMFXPO
RNS Number : 2741T
Ferrexpo PLC
19 March 2019
19 March 2019
Ferrexpo plc
("Ferrexpo", the "Group" or the "Company")
Independent Review Update and Delay to Publication of FY2018
Results
As announced on 4 February 2019, the Group has established an
independent review committee (the "Independent Review Committee" or
"IRC") to conduct a comprehensive independent review in relation to
the Group's charitable donations to Blooming Land.
The work of the independent review remains ongoing, and the
Independent Review Committee is working with its advisers in the UK
and Ukraine, including BDO.
In addition to discrepancies within the copy bank statements
provided by Blooming Land, the preliminary work of BDO has
identified a number of discrepancies on the application of funds by
Blooming Land and its sub-funds, which indicates that the funds may
not all have been used for their stated purpose.
Given the above developments, and the ongoing work of the IRC
and its advisers, the Group has decided to delay the publication of
its FY 2018 results.
The Group intends to announce its FY 2018 results on or before 3
April 2019.
The Board is committed to understanding the full extent of these
issues and, in the interests of transparency and governance,
keeping shareholders updated, as appropriate.
This announcement contains inside information in relation to the
Company. The person responsible for making this notification is
Brian McLelland, Interim Company Secretary.
For further information contact:
Ferrexpo:
Ingrid McMahon
Head of Investor Relations
+44 207 389 8304
Maitland:
James Isola
+44 207 379 5151
Partner
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine. It has been mining, processing and selling high quality
iron ore pellets to the global steel industry for 40 years.
Ferrexpo's resource base is one of the largest iron ore deposits in
the world. In 2018, the Group produced 10.6 million tonnes of
pellets, a 2% increase compared to 2017, ranking it as the 3rd
largest exporter of pellets to the global steel industry with a
market share of approximately 8%. Ferrexpo has a diversified
customer base supplying steel mills in Austria, Germany, Japan,
South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey
and Vietnam. Ferrexpo has a premium listing 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 news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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