Ferrexpo PLC Ferrexpo AG Court Appeal Ruling (1645B)
06 10월 2020 - 3:01PM
UK Regulatory
TIDMFXPO
RNS Number : 1645B
Ferrexpo PLC
06 October 2020
Ferrexpo plc
Ferrexpo AG Court Appeal Ruling
6 October 2020
Ferrexpo plc
("Ferrexpo" or the "Company")
Ferrexpo AG Court Appeal Ruling
On 19 June 2020, the Company announced that a district court in
Kyiv placed a restriction covering 50.3% of the shares in Ferrexpo
Poltava Mining (FPM) held by Ferrexpo AG Switzerland, the sole
shareholder in FPM. The Company understands that the Kyiv Court of
Appeal has now dismissed Ferrexpo AG's appeal against the above
court order.
This announcement means that the restriction covering 50.3% of
the shares in FPM remains effective. The restriction does not
affect ownership of the shares in FPM, but prohibits their
transfer. Furthermore, Ferrexpo AG has no intention, and never has
had any intention, to transfer its shareholding in FPM. Ferrexpo's
operations remain unaffected and continue as normal.
This restriction is similar to the restriction that the Company
announced on 31 January 2020 and that was subsequently cancelled by
the Kyiv Court of Appeal on 2 June 2020.
Ferrexpo is considering its options regarding further legal
action against the restriction with its advisers.
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Maitland/AMO:
James Isola jisola@maitland.co.uk +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 over 40 years. In
2019, the Group produced 10.5 million tonnes of pellets ranking it
as the world's 3(rd) 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, Vietnam and America. 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
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END
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October 06, 2020 02:01 ET (06:01 GMT)
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