Ferrexpo PLC Court Appeal (5481B)
31 1월 2020 - 4:00PM
UK Regulatory
TIDMFXPO
RNS Number : 5481B
Ferrexpo PLC
31 January 2020
31 January 2020
FERREXPO PLC
("Ferrexpo" or the "Group")
Ferrexpo AG Court Appeal
Ferrexpo advises that a Ukrainian court has placed a restriction
covering 50.3% of the shares in Ferrexpo Poltava Mining (FPM) held
by Ferrexpo AG Switzerland, the sole shareholder in FPM. Ferrexpo
AG has appealed this court order.
The restriction does not affect ownership of the shares but
prohibits their transfer. The Group believes this restriction is
temporary and is in connection with ongoing matters in Ukraine
involving Kostyantin Zhevago and one of the businesses he owned
until 2015 (Bank Finance and Credit). Ferrexpo's operations remain
unaffected and continue as normal. Furthermore, Ferrexpo AG has no
intention, and never has had any intention, to transfer its
shareholding in FPM.
The Board of Ferrexpo believes that an appeal should be
successful given the advice received that the order has no proper
or reasonable basis under Ukrainian law.
Once the outcome of this appeal is known Ferrexpo will inform
the market as appropriate.
For further information contact:
Ferrexpo:
Ingrid McMahon +44 207 389 8304
Maitland/AMO:
James Isola +44 207 379 5151
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. In
2019, the Group produced 10.5 million tonnes of pellets ranking it
as the 3rd largest exporter of pellets to the global steel industry
with a market share of approximately 9%. Ferrexpo has a diversified
customer base supplying steel mills in Austria, Germany, Japan,
South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey,
Vietnam and America. Ferrexpo has a premium listing on the main
market of the London Stock Exchange. Since its IPO in 2007, the
Group has paid approximately US$658 million in dividends to
shareholders, invested over US$2.4 billion of capital into its
operations and paid US$761 million in taxes and royalties to the
Ukrainian government. For further information, please visit
www.ferrexpo.com
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contact rns@lseg.com or visit www.rns.com.
END
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