REG - Ferrexpo plc - Response to SBI Statement

FerrexpoAnnouncement

05/03/2025 07:00

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RNS Number : 3614Z  Ferrexpo PLC  05 March 2025

 

5 March 2025

 

 

FERREXPO Plc

("Ferrexpo" or the "Group")

 

Response to SBI Statement

 

 

Ferrexpo Plc (LSE: FXPO) notes the statement released on 4 March 2025 by the
State Bureau of Investigation in Ukraine (SBI) stating that the Pecherskyi
District Court of Kyiv has granted a request of the Prosecutor General's
Office of Ukraine to transfer 49.5% of the corporate rights of Ferrexpo
Poltava Mining to Ukraine's Asset Recovery and Management Agency ("ARMA"). The
statement also makes reference to the transfer to ARMA of corporate rights in
a further 15 undisclosed legal entities.

The SBI statement notes that the transfer of the corporate rights of Ferrexpo
Poltava Mining is in connection with on-going legal cases in Ukraine relating
to the alleged embezzlement of funds from Bank Finance & Credit, a
Ukrainian bank previously owned by Mr Zhevago which was declared insolvent in
2015. Bank Finance & Credit has never been part of the Ferrexpo Group.

The Group reiterates that Mr Zhevago does not own any shares in Ferrexpo
Poltava Mining, which is in fact 100% owned by Ferrexpo AG (incorporated in
Switzerland), which is in turn 100% owned by Ferrexpo Plc.

No Ferrexpo Group company has received any official documentation or requests
from the Ukrainian authorities with regards to the decision of the Pecherskyi
District Court of Kyiv and have not seen a copy of the court decision. The
details of the court decision are therefore unclear at this stage and the
Company is working with its legal advisors to further understand the
situation.

The operations of the Group remain unaffected. Further updates will be made on
the situation as and when appropriate. This announcement contains inside
information. The person responsible for the release of this announcement is
Mark Gregory, Group Company Secretary.

 

For further information, please contact:

 Ferrexpo:
 Nick Bias        n.bias@ferrexpo.ch        +44 (0)7733 177 831
 Tavistock:
 Jos Simson       ferrexpo@tavistock.co.uk  +44 (0)207 920 3150

 Gareth Tredway                             +44 (0)7785 974 264

 

Notes to Editors:

About Ferrexpo: Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine and a listing in the equity shares commercial companies category on
the London Stock Exchange (ticker FXPO) and a constituent of the FTSE 250 and
FTSE4Good indices. The Group produces high grade iron ore pellets, which are a
premium product for the global steel industry and enable reduced carbon
emissions and increased productivity for steelmakers when converted into
steel, compared to more commonly traded forms of iron ore. Ferrexpo's
operations have been supplying the global steel industry for over 50 years.
Before Russia's full-scale invasion of Ukraine in February 2022, the Group was
the world's third largest exporter of pellets. The Group has a global customer
base comprising of premium steel mills around the world. For further
information, please visit www.ferrexpo.com (http://www.ferrexpo.com/) .

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