Ferrexpo AG Court Appeal Ruling

RNS Number : 1645B

Ferrexpo PLC

06 October 2020

 

Ferrexpo plc

Ferrexpo AG Court Appeal Ruling

6 October 2020

Ferrexpo plc

("Ferrexpo" or the "Company")

 Ferrexpo AG Court Appeal Ruling

On 19 June 2020, the Company announced that a district court in Kyiv placed a restriction covering 50.3% of the shares in Ferrexpo Poltava Mining (FPM) held by Ferrexpo AG Switzerland, the sole shareholder in FPM. The Company understands that the Kyiv Court of Appeal has now dismissed Ferrexpo AG's appeal against the above court order.

This announcement means that the restriction covering 50.3% of the shares in FPM remains effective. The restriction does not affect ownership of the shares in FPM, but prohibits their transfer. Furthermore, Ferrexpo AG has no intention, and never has had any intention, to transfer its shareholding in FPM. Ferrexpo's operations remain unaffected and continue as normal.

This restriction is similar to the restriction that the Company announced on 31 January 2020 and that was subsequently cancelled by the Kyiv Court of Appeal on 2 June 2020.

Ferrexpo is considering its options regarding further legal action against the restriction with its advisers.

For further information, please contact:

Ferrexpo:
Rob Simmons	[e-mail]		[phone]
Maitland/AMO:
James Isola	[e-mail]		[phone]

Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for over 40 years. In 2019, the Group produced 10.5 million tonnes of pellets ranking it as the world's 3^rd largest exporter of pellets to the global steel industry with a market share of approximately 8%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com

 

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