REG - Evraz Plc - Demerger Update

EvrazAnnouncement

08/02/2022 16:05

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RNS Number : 0695B  Evraz Plc  08 February 2022

EVRAZ plc

FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION

8 February 2022

EVRAZ plc ("EVRAZ" or the "Company")

Demerger Update

Further to the Company's announcement on 15 December 2021 regarding the
potential demerger of its coal assets consolidated under PJSC Raspadskaya (the
"Demerger"), the Company today announces that the Capital Reduction has been
confirmed by the UK Court.

The Capital Reduction will become effective upon the Court order being
registered by the Registrar of Companies, which is expected to take place
during the course of this week. The Company notes that, once the Capital
Reduction has become effective, the Company will have sufficient distributable
reserves to effect the Demerger. Further to the Company's announcement on 1
February 2022 that 848,188,421 deferred shares of US$9.66766321843 each (the
"Capital Reduction Shares") were issued by the Company, such Capital Reduction
Shares will be cancelled once the Capital Reduction becomes effective. The
timetable set out in that announcement remains the expected timetable in
relation to the Demerger.

Defined terms used but not defined in this announcement have the meanings set
out in the Shareholder Circular published by the Company on 15 December 2021.
The Shareholder Circular includes details on the steps EVRAZ Shareholders are
advised to take to receive the RASP Shares to which they will be entitled
following the Demerger, which will include opening or otherwise holding an
account with a direct or indirect participant of a clearing institution
eligible to receive RASP Shares (such as Euroclear, Clearstream or the NSD),
and providing the details of such account to the Company's registrar by no
later than 15 March 2022. The Shareholder Circular also includes details on
the Share Sale Facility.

 

 For further enquiries:
 Irina Bakhturina (Investor Relations)  +44 207 290 1095   / +7 495 232 1370
 Maria Starovoyt (Media Relations)      +44 207 290 1096   / +7 495 937 6871

 

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