FXPO Ferrexpo Plc

TIDMFXPO

RNS Number : 2107Q

Ferrexpo PLC

28 August 2014

28 August 2014

Ferrexpo plc

("Ferrexpo", the "Group" or the "Company")

Related Party Transaction

Ferrexpo today announces that Ferrexpo Yeristovo Mining (FYM), a subsidiary of the Group, has agreed to acquire in two separate transactions a two kilometre railway line and an associated power line from LLC Vorskla Steel, a company controlled by Ferrexpo's majority shareholder Kostyantin Zhevago.

The transactions reduce FYM's cost to access the local rail network and have been concluded following an independent review in accordance with the Listing Rule 11.1.10 R (2)(b). The cash consideration (excl. VAT) for each transaction respectively is UAH 5,819,952 and UAH 545,531 (USD 418,976 and USD 39,273 at prevailing exchange rates).

The announcement is made in accordance with the requirement in Listing Rule 11.1.10 R (2)(c).

For further information contact:

 
 Ferrexpo: 
 Ingrid McMahon    +44 207 389 8304 
 
 Maitland: 
 Peter Ogden       +44 207 379 5151 
 Liz Morley 
 

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 35 years. Ferrexpo's resource base is one of the largest iron ore deposits in the world. The Group is the 5(th) largest supplier of pellets to the global steel industry and the largest exporter of pellets from the CIS. In 2013, it produced 10.8 million tonnes of pellets, a 12% increase compared to 2012. Ferrexpo has a diversified customer base supplying steel mills in Austria, Slovakia, the Czech Republic, Germany and other European states, as well as in China, India, Japan, Taiwan and South Korea. Ferrexpo is listed on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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