Ferrexpo PLC Notice of AGM, Annual Report and Final Dividend (7102V)
16 April 2021 - 4:00PM
UK Regulatory
TIDMFXPO
RNS Number : 7102V
Ferrexpo PLC
16 April 2021
16 April 2021
Ferrexpo plc
("Ferrexpo", "the Company" or the "Group")
Notice of Annual General Meeting, 2020 Annual Report and
Proposed Final Dividend for 2020
Notice of Annual General Meeting 2021 and Publication of 2020
Annual Report and Accounts
Ferrexpo announces that it has today published its Annual Report
and Accounts for the year ended 31 December 2020 (the "2020 Annual
Report") and Notice of Annual General Meeting ("AGM") to be held on
27 May 2021.
The 2020 Annual Report and Notice of AGM 2021 are available to
view on our website at www.ferrexpo.com and have been posted to
shareholders.
In accordance with Listing Rule 9.6.1R, a copy of the 2020
Annual Report and Notice of AGM 2021 will be uploaded to the
National Storage Mechanism and will shortly be available for
viewing at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
.
Arrangements for AGM in light of COVID-19
Ferrexpo is closely monitoring the situation in relation to the
COVID-19 pandemic, including government measures, and will continue
to do so in the lead up to the AGM.
Updates on the status of the AGM and any changes to the
proceedings of the meeting will be published at www.ferrexpo.com
.
Proposed Final Dividend for 2020
The Board of Directors ("Board") of Ferrexpo is pleased to
propose a final ordinary dividend for the 2020 financial year end
of 13.2 US cents per share (final ordinary dividend for 2019: 3.3
US cents per share), for approval by shareholders at the Group's
AGM on 27 May 2021. The dividend proposed today reflects the
current strength of the Group's balance sheet, robust iron ore
prices and pellet premiums. Total dividends announced and proposed
in respect of 2020 are therefore 85.8 US cents per share (2019:
19.8 US cents per share), with this increase in shareholder returns
indicative of the ongoing strength of the Group's operations and
balance sheet, resilience of the business throughout the global
COVID-19 pandemic and broader iron ore market conditions.
After deducting special interim dividends announced in 1Q 2021,
under the revised terms of the Group's major bank debt facility,
the remaining total available distributable reserves in 2021,
subject to relevant thin capitalisation rules and company law
distribution requirements, will be the equivalent of approximately
29.9 US cents per share [1] .
If approved by shareholders at the AGM , payment of the final
ordinary dividend will be made on 1 July 2021 to those shareholders
on the register at the close of business on 18 June 2021. Dividends
will be paid in UK Pounds Sterling, with an election to receive in
US Dollars.
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Tavistock:
Jos Simson
Emily Moss +44 207 920 3150
Gareth Tredway ferrexpo@tavistock.co.uk +44 778 855 4035
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
2020, the Group produced 11.2 Mt of iron ore pellets, a 7% increase
on the prior year. The Company is ranked as the world's 3(rd)
largest exporter of pellets to the global steel industry with a
market share of approximately 9%. 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.
[1] Based on the Group's current total issued share capital
(excluding treasury shares) of c.588.6 million shares.
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END
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