Ferrexpo PLC Response to allegations made on social media (0511O)
30 September 2019 - 8:02AM
UK Regulatory
TIDMFXPO
RNS Number : 0511O
Ferrexpo PLC
30 September 2019
30 September 2019
FERREXPO plc
("Ferrexpo" or the "Group")
Response to allegations made on social media
The Board of Ferrexpo is aware of allegations made on social
media that the Group's CEO and majority shareholder, Kostyantin
Zhevago, has been served with a notice of suspicion regarding an
investigation in Ukraine relating to one of the businesses he owned
until 2015.
Mr Zhevago strongly denies any allegations of wrongdoing.
Mr Zhevago has informed the Board of Ferrexpo that he has not
received a notice of suspicion in accordance with Ukrainian law.
Additionally the public dissemination of such untrue information in
the media violates his rights and legitimate interests as a citizen
of Ukraine, and causes direct reputational and economic damage to
the businesses where Mr Zhevago is a shareholder. This undermines
the international authority and economy of the country of Ukraine
and jeopardizes the future implementation of major investment
projects in Ukraine.
For further information contact:
Ferrexpo:
Ingrid McMahon +44 207 389 8304
Maitland/AMO:
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,
Vietnam and America. 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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END
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