Ferrexpo PLC Independent Review Update (6240U)
01 April 2019 - 8:01AM
UK Regulatory
TIDMFXPO
RNS Number : 6240U
Ferrexpo PLC
01 April 2019
1 April 2019
FERREXPO plc
("Ferrexpo" or the "Group")
Independent Review Update and Delay to Publication of FY 2018
Results
Further to the announcement of 19 March 2019, Ferrexpo announces
that the publication of its full year results for the financial
year ended 31 December 2018 will be on or before 25 April 2019.
The work of the Group's Independent Review Committee (IRC) is
ongoing. The IRC requires more time to be in a position to make
appropriate disclosures in the 2018 financial statements.
The IRC is looking into donations made by Ferrexpo to the
Blooming Land Charity and can report that it has made progress in
receiving explanations regarding the differences contained on the
bank statements (see announcement dated 4 February 2019 for further
background).
The IRC has also received third party evidence (including
governmental confirmations) to explain some of the possible
discrepancies in the application of funds by Blooming Land as per
the announcement made on 19 March 2019.
The IRC is undertaking further work to corroborate the above
explanations and evidence. At the current time, the Board cannot
guarantee that the review will be complete by the publication of
its full year results, or will complete favourably.
This announcement contains inside information in relation to the
Company. The person responsible for making this notification is
Brian McLelland, Interim Company Secretary.
For further information contact:
Ferrexpo:
Ingrid McMahon +44 207 389 8304
Maitland:
James Isola +44 207 379 5151
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 40 years.
Ferrexpo's resource base is one of the largest iron ore deposits in
the world. In 2018, the Group produced 10.6 million tonnes of
pellets, a 2% increase compared to 2017, ranking it as the 3rd
largest exporter of pellets to the global steel industry with a
market share of approximately 8%. Ferrexpo has a diversified
customer base supplying steel mills in Austria, Germany, Japan,
South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey
and Vietnam. 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
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contact rns@lseg.com or visit www.rns.com.
END
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