Ferrexpo PLC Supreme Court Ruling Dismisses Claim Against FXPO (8870W)
20 April 2023 - 4:00PM
UK Regulatory
TIDMFXPO
RNS Number : 8870W
Ferrexpo PLC
20 April 2023
20 April 2023
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Supreme Court Ruling Dismisses Claim Against the Company
Ferrexpo plc (LSE: FXPO), a producer and exporter of high grade
iron ore pellets to the global steel industry with operations in
central Ukraine, announces that, further to the Company's
announcement dated 20 September 2022, the Supreme Court in Ukraine
has ruled in favour of the Company.
The case related to a claim brought by four claimants seeking to
invalidate a share purchase agreement concluded back in 2002 in
relation to 40.19% of shares in Ferrexpo Poltava Mining, an
operating subsidiary in Ukraine.
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 7785 974 264
This announcement contains inside information in relation to the
Company. The person responsible for making this notification is
Mark Gregory, Company Secretary.
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, and in 2022 the Group produced
6.1 million tonnes of iron ore pellets, despite the war in Ukraine.
Historically, Ferrexpo has been the world's third largest exporter
of pellets to the global steel industry, recently having a market
share of approximately 9% in 2021. The Group has a global customer
base comprising of premium steel mills around the world, which
includes steel mills in Austria, Germany, Japan, South Korea,
Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and
America. For further information, please visit www.ferrexpo.com
.
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