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District court of Kyiv imposed a new restriction for 50.3% of Ferrexpo Poltava Mining

Mining industry / Ukraine
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In Ferrexpo previously believed that the decision of the Kyiv court of appeal is the Supreme court decision in this case and the new restrictions will not.

District court of Kyiv imposed a new restriction for 50.3% of Ferrexpo Poltava Mining

Mining company Ferrexpo former people's Deputy of Ukraine Konstantin Zhevago announced that district court of Kyiv imposed a new restriction for 50.3% stake in Ferrexpo Poltava Mining (FPM), owned by Ferrexpo AG Switzerland, the sole shareholder FPM.

"Ferrexpo AG will appeal the decision of the court in the near future", - stated in message company.

New court ruling similar to a court ruling received by the group on 31 January 2020, which was subsequently reversed by the Appeals court of Kyiv on 2 June 2020. Thus, the Board of Ferrexpo believes that the second appeal should be successful, given that the constraint is appropriate or reasonable grounds in accordance with the legislation of Ukraine.

the Group believes that this limitation is due to the current in Ukraine the issues concerning Konstantin Zhevago and one of the companies he owned until 2015.

"Production activities Ferrexpo remains unchanged, since the freezing of the shares does not affect the ownership of shares, but prohibits their transfer. In addition, Ferrexpo AG does not intend and never intended to transfer his share in the FPM," said the company.

Recall that on 2 June the Kyiv court of Appeals removed restrictions from 50.3% stake in Ferrexpo Poltava Mining (FPM), established in January on the case of former people's Deputy of Ukraine Konstantin Zhevago and the Bank "Finance and Credit".

"the decision of the Kyiv court of appeal is the Supreme court decision in this matter, and, as such, it is the final stage of the appeals process," - thought then in a press-service of Ferrexpo.

In 2015 Zhevago, who at that time was the owner of the Bank "Finance and Credit", concluded with the National Bank of Ukraine (NBU) contract of guarantee on repayment of refinancing loans in several loan agreements, assuming personal liability for the repayment of financial institutions.

In December 2015, the NBU has applied to the court to recover the debt in court. 17 September 2015 the NBU has adopted a decision on the classification of Bank "Finance and Credit" in the category of the insolvent. At the time of this decision, the shareholder of the Bank was Konstantin Zhevago, who indirectly owned shares in 97,67% of the shares.

Ferrexpo is a Swiss iron ore company with assets in Ukraine. The main activity is the manufacture and export of high quality iron ore pellets used in steel production.

PGOK - the underlying asset quoted on the London stock exchange British mining company plc Ferrеxpo: it owns 100% of Ferrexpo AG, which in turn owns 100% of shares in Poltava GOK, 100% of the eristovsky GOK and 99.9% of Belanovsky GOKa.

Group Ferrexpo is the largest producer and exporter of pellets among countries b. Of the Soviet Union. In 2017, the company produced 10.4 million tons of iron ore pellets. The main customers are steel mills from Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, Czech Republic, Turkey, Vietnam and the United States.

Shares Ferrexpo is listed on the main market of the London stock exchange.

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