Ferrexpo PLC

Legal Proceedings Report • Mar 26, 2024

National Storage Mechanism | Additional information

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 .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCQKABQABKKANB