REG - Evraz Plc - Update on certain matters

EvrazAnnouncement

09/03/2022 07:16

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220309:nRSI1217Ea&default-theme=true

RNS Number : 1217E  Evraz Plc  09 March 2022

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

FOR IMMEDIATE RELEASE

9 March 2022

 

EVRAZ plc ("EVRAZ" or the "Company") - Update on certain matters

 

EVRAZ is deeply concerned and saddened by the Ukraine-Russia conflict and
hopes that a peaceful resolution will be found soon. In light of recent
developments in Ukraine and the ever-developing regulatory environment both
inside and outside of Russia, the Company wishes to provide an update.

 

The Russia (Sanctions) (EU Exit) Regulations 2019

 

The Company wishes to confirm the following points:

 

·    For the purposes of The Russia (Sanctions) (EU Exit) Regulations 2019
(the "Regulations"), the Company does not consider itself to be an entity
owned by, or acting on behalf or at the direction of, any persons connected
with Russia and thereby caught by such legislation. In relation to certain
shareholders of the Company (namely, Mr Roman Abramovich, Mr Alexander Abramov
and Mr Alexander Frolov), the Company cannot be certain as to whether such
individuals are "connected with Russia" for the purposes of paragraph 16(4D)
of the Regulations, but has reached the above view based on the information it
has previously been provided with. Nevertheless, the Company can confirm that
it has not granted any loans or credits to such individuals after 12:01a.m. on
1 March 2022, nor dealt directly or indirectly with a transferable security or
money-market instrument issued after 12:01a.m. on 1 March 2022; and

 

·    The Company has not issued any transferable securities or
money-market instruments since 12:01a.m. on 1 March 2022.

 

The Company will continue to monitor its position on the above points and, in
the event that its analysis changes at any time, will make an announcement via
RIS to inform the market before issuing any securities in the future. The
Company notes that in the event that it becomes an entity owned by, or acting
on behalf or at the direction of, a person "connected with Russia" under the
Regulations, any further share issuance may be subject to the UK sanctions
regime and hence may result in a suspension of the Company's listing on the
London Stock Exchange's Main Market for listed securities.

 

Operations of the Company

 

Although the imposition of international sanctions against Russia and the
restrictions imposed by Russia are creating certain frictions in supply,
logistics and financial flows, to date there has been no material direct
impact on day-to-day operations, trading or the financial position of EVRAZ.
The Company will continue to keep EVRAZ shareholders updated in accordance
with its legal and regulatory obligations.

 

Demerger of coal assets

 

Further to the Company's previous announcements regarding the potential
demerger of its coal assets consolidated under PJSC Raspadskaya (the
"Potential Demerger"), the Board of Directors of EVRAZ (the "Board") continues
to monitor the implementation of the Potential Demerger in accordance with the
anticipated timetable detailed in the shareholder circular published by the
Company on 15 December 2021 (the "Shareholder Circular") and the Company's
announcement on 1 February 2022.

 

The Board continues to believe that the separation of the two businesses, as
described in the Shareholder Circular, will serve the long-term interests of
EVRAZ's shareholders, employees, clients and other stakeholders and continues
to support the Potential Demerger.

 

The Board will keep the implementation of the Potential Demerger under review
and will update EVRAZ shareholders, including in relation to the expected
timetable, through further announcements as appropriate. In the meantime,
EVRAZ shareholders should continue to return their RASP Shares Information
Form (as defined in the Shareholder Circular) to the Company's registrar by 15
March 2022 in accordance with the instructions set out in the Shareholder
Circular.

 

Continuing obligations

 

The Board continues to be very mindful of its statutory and fiduciary duties
in reaching its decisions, as well as the Company's legal and regulatory
obligations. The Board continues to closely monitor the situation in Ukraine,
as well as the sanctions and restrictions imposed, and will keep shareholders
updated accordingly.

 

 

 

For further information:

 

EVRAZ
plc
        Moscow Tel: +7 495 232 1370

Investor
relations
        London Tel: +44 207 290 1095

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct 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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDFIFLEVEIAIIF