Ukrainian pellet producer Ferrexpo Plc said on Tuesday that an appeals court ruled that the 2002 share sale was invalid and that 40.19% of Ferrexpo Poltava Mining (FPM) shares should be transferred to former FPM shareholders.
The company said it was exploring all options, including the right to appeal the decision to Ukraine's Supreme Court.
Four former shareholders of FPM have filed suit to invalidate a 2002 share purchase transaction in which more than 40% of FPM's shares were sold to its former CEO, Konstantin Zhevago, and others
