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26 March 2024
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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:
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Ferrexpo:
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Nick Bias
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n.bias@ferrexpo.ch
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+44 (0)20 7389 8305
+44 (0)7733 177 831
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Tavistock:
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Jos Simson
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ferrexpo@tavistock.co.uk
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+44 (0)20 7920 3150
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Gareth Tredway
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+44 (0)7785 974 264
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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.
