REG - Ferrexpo plc - Transfer of Treasury Shares & Total Voting Rights

FerrexpoAnnouncement

10/03/2023 07:00

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RNS Number : 5118S  Ferrexpo PLC  10 March 2023

 

 

 

10 March 2023
 
 

Ferrexpo plc

("Ferrexpo" or the "Company" or the "Group")

Transfer of Treasury Shares to Employee Benefit Trust and Total Voting Rights

Ferrexpo plc (LSE: FXPO), a producer and exporter of high grade iron ore
pellets to the global steel industry, with operations in central Ukraine,
hereby notifies that, following a Board Resolution dated 20 January 2023, the
Company transferred 9,513,000 shares from treasury (the "Shares") to the
Group's Employee Benefit Trust ("EBT") on 9 March 2023, at a price of 140.3
pence per share, being the closing share price of the Company's ordinary
shares on the London Stock Exchange on 8 March 2023.  The transfer of shares
announced today will serve to establish the Group's newly formed EBT to
satisfy employee incentive awards granted pursuant to the Company's employee
share schemes.

No new shares have been issued, with the Company utilising shares that have
been held in treasury since a buyback of shares that was completed in
September 2008.

In accordance with standard market practice for UK listed companies, the Group
has provided a non-interest bearing loan to the EBT to fund the acquisition
price of the Shares.

The Company announces that, as at 9 March 2023, following the transfer of the
Shares, the Company's issued share capital consists of 613,967,956 ordinary
shares of 10 pence each of which 15,830,814 ordinary shares are held in
treasury.

The total number of shares with voting rights in the Company at the above date
was 598,137,142 and this figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.

The Company notes that, as a result of the transfer of the Shares by the
Company to the EBT, the interest of the Group's largest shareholder,
Fevamotinico S.a.r.l ("Fevamotinico"), in the voting rights of the Company is
now 49.5%.

This announcement is made in accordance with the requirements of Listing Rule
12.6.4R and DTR 5.6.1AR.

For further information, please contact:

 Ferrexpo:
 Rob Simmons      r.simmons@ferrexpo.ch (mailto:r.simmons@ferrexpo.ch)        +44 207 389 8305
 Tavistock:
 Jos Simson       ferrexpo@tavistock.co.uk (mailto:ferrexpo@tavistock.co.uk)  +44 207 920 3150

 Emily Moss                                                                   +44 7788 554 035

 Gareth Tredway

 

About Ferrexpo:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). 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 the Group's iron ore pellets are 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, and in 2022 the Group produced 6.1 million tonnes of iron ore pellets, despite the war in Ukraine. Historically, Ferrexpo has been the world's third largest exporter of pellets to the global steel industry, recently having a market share of approximately 9% in 2021. The Group has a global customer base comprising of premium steel mills around the world, which includes steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. For further information, please visit
www.ferrexpo.com (http://www.ferrexpo.com)
.

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