Update on shareholder dispute

RNS Number : 7748A

Ferrexpo PLC

04 April 2012

 



4 April 2012

Ferrexpo plc ("Ferrexpo")

Update on shareholder dispute

Ferrexpo announces today that it has received judgement on its jurisdictional proceedings in the UK in relation to a long standing shareholder dispute at Ferrexpo Poltava Mining (as announced on 19 December 2011). The judge has applied a stay of proceedings in the UK while the case continues in Ukraine.

The board of directors of Ferrexpo has received legal advice that the Ukrainian proceedings are without merit.

Ferrexpo:
Ingrid McMahon Emma Villiers	[phone] [phone]
Pelham Bell Pottinger
Charles Vivian	[phone]
Lorna Spears	[phone]

Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It is principally involved in the production and export of high quality iron ore pellets, which are used in the manufacture of steel. Ferrexpo's resource base is one of the largest iron ore deposits in the world. Its current producing asset, FPM, produced approximately 10 million tonnes of iron ore pellets in 2010 making it the largest exporter of pellets in the CIS. The Company has a diversified customer base supplying steel mills in Austria, Serbia, Slovakia, Czech Republic, Germany and other European states, as well as in China, India, Japan, and other Asian countries. Ferrexpo is listed 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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