REG - Ferrexpo plc - Ukrainian Subsidiary Corporate Rights Restrictions

FerrexpoAnnouncement

26/03/2024 07:15

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RNS Number : 3010I  Ferrexpo PLC  26 March 2024

 

 

 26 March 2024

 

Ferrexpo plc

("Ferrexpo" or the "Group")

 

Restrictions on certain corporate rights in Ukrainian subsidiaries

Ferrexpo plc (LSE: FXPO), a premium iron ore pellet producer and supplier to
the global steel industry, announces that it has been notified of a court
order in the Ukrainian Register of Court Decisions, that imposes restrictions
on certain corporate rights in all of the Group's Ukrainian subsidiaries.
These restrictions are imposed on 49.5% of the shares in the Group's Ukrainian
subsidiaries except for TIS-Ruda LLC and Nova Logistics LLC, where the
collective restriction is 24.7% and 25.2% respectively (the "Restrictions").

The Restrictions do not affect ownership of the shares but prohibit their
transfer and restrict certain rights attached to the shares, including the
right to vote.

The Group confirms that it has no intention, and never has had any intention
of transferring shares in its subsidiaries.

It is understood that the Restrictions are part of an ongoing series of legal
proceedings against Mr Kostyantin Zhevago relating to Bank Finance &
Credit and are not related to the Ferrexpo Group.

The Group is currently analysing the potential legal and other remedies
available and intends to vigorously defend its rights.

Ferrexpo's operations remain unaffected.  A further announcement will be made
as appropriate.

Previously announced share freezes

The Restrictions are separate to those under the share freezes previously
announced on 7 March 2023 and on 21 September 2023. Further updates will be
made as 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)20 7389 8305

                                           +44 (0)7733 177 831
 Tavistock:
 Jos Simson      ferrexpo@tavistock.co.uk  +44 (0)20 7920 3150
 Gareth Tredway                            +44 (0)7785 974 264

 

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. Before Russia's invasion of Ukraine in February 2022, the Group was
the world's third largest exporter of pellets to the global steel industry.
The Group has a 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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