Evraz Plc Update on certain matters (1217E)
09 March 2022 - 6:15PM
UK Regulatory
TIDMEVR
RNS Number : 1217E
Evraz Plc
09 March 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION.
FOR IMMEDIATE RELEASE
9 March 2022
EVRAZ plc ("EVRAZ" or the "Company") - Update on certain
matters
EVRAZ is deeply concerned and saddened by the Ukraine-Russia
conflict and hopes that a peaceful resolution will be found soon.
In light of recent developments in Ukraine and the ever-developing
regulatory environment both inside and outside of Russia, the
Company wishes to provide an update.
The Russia (Sanctions) (EU Exit) Regulations 2019
The Company wishes to confirm the following points:
-- For the purposes of The Russia (Sanctions) (EU Exit)
Regulations 2019 (the "Regulations"), the Company does not consider
itself to be an entity owned by, or acting on behalf or at the
direction of, any persons connected with Russia and thereby caught
by such legislation. In relation to certain shareholders of the
Company (namely, Mr Roman Abramovich, Mr Alexander Abramov and Mr
Alexander Frolov), the Company cannot be certain as to whether such
individuals are "connected with Russia" for the purposes of
paragraph 16(4D) of the Regulations, but has reached the above view
based on the information it has previously been provided with.
Nevertheless, the Company can confirm that it has not granted any
loans or credits to such individuals after 12:01a.m. on 1 March
2022, nor dealt directly or indirectly with a transferable security
or money-market instrument issued after 12:01a.m. on 1 March 2022;
and
-- The Company has not issued any transferable securities or
money-market instruments since 12:01a.m. on 1 March 2022.
The Company will continue to monitor its position on the above
points and, in the event that its analysis changes at any time,
will make an announcement via RIS to inform the market before
issuing any securities in the future. The Company notes that in the
event that it becomes an entity owned by, or acting on behalf or at
the direction of, a person "connected with Russia" under the
Regulations, any further share issuance may be subject to the UK
sanctions regime and hence may result in a suspension of the
Company's listing on the London Stock Exchange's Main Market for
listed securities.
Operations of the Company
Although the imposition of international sanctions against
Russia and the restrictions imposed by Russia are creating certain
frictions in supply, logistics and financial flows, to date there
has been no material direct impact on day-to-day operations,
trading or the financial position of EVRAZ. The Company will
continue to keep EVRAZ shareholders updated in accordance with its
legal and regulatory obligations.
Demerger of coal assets
Further to the Company's previous announcements regarding the
potential demerger of its coal assets consolidated under PJSC
Raspadskaya (the "Potential Demerger"), the Board of Directors of
EVRAZ (the "Board") continues to monitor the implementation of the
Potential Demerger in accordance with the anticipated timetable
detailed in the shareholder circular published by the Company on 15
December 2021 (the "Shareholder Circular") and the Company's
announcement on 1 February 2022.
The Board continues to believe that the separation of the two
businesses, as described in the Shareholder Circular, will serve
the long-term interests of EVRAZ's shareholders, employees, clients
and other stakeholders and continues to support the Potential
Demerger.
The Board will keep the implementation of the Potential Demerger
under review and will update EVRAZ shareholders, including in
relation to the expected timetable, through further announcements
as appropriate. In the meantime, EVRAZ shareholders should continue
to return their RASP Shares Information Form (as defined in the
Shareholder Circular) to the Company's registrar by 15 March 2022
in accordance with the instructions set out in the Shareholder
Circular.
Continuing obligations
The Board continues to be very mindful of its statutory and
fiduciary duties in reaching its decisions, as well as the
Company's legal and regulatory obligations. The Board continues to
closely monitor the situation in Ukraine, as well as the sanctions
and restrictions imposed, and will keep shareholders updated
accordingly.
For further information:
EVRAZ plc Moscow Tel: +7 495 232 1370
Investor relations London Tel: +44 207 290 1095
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