Ferrexpo plc (LSE: FXPO), a producer and exporter of high grade iron ore pellets to the global steel industry with operations in central Ukraine, announces that, further to the Company’s announcement dated 20 September 2022, the Supreme Court in Ukraine has ruled in favour of the Company.
The case related to a claim brought by four claimants seeking to invalidate a share purchase agreement concluded back in 2002 in relation to 40.19% of shares in Ferrexpo Poltava Mining, an operating subsidiary in Ukraine.
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For further information, please contact:
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Jos Simson / Emily Moss / Gareth Tredway
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Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group’s iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore. Ferrexpo’s operations have been supplying the global steel industry for over 50 years, and in 2022 the Group produced 6.1 million tonnes of iron ore pellets, despite the war in Ukraine. Historically, Ferrexpo has been the world’s third largest exporter of pellets to the global steel industry, recently having a market share of approximately 9% in 2021. The Group has a global customer base comprising of premium steel mills around the world, which includes steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. For further information, please visit www.ferrexpo.com.