12 March 2024
Ferrexpo plc
("Ferrexpo", the "Company" or the "Group")
Updates Regarding Full Year 2023 Financial Results and Ukrainian Subsidiary
Ferrexpo plc (LSE: FXPO), advises that following discussions with its auditors, and in consideration of potential proceedings in Ukraine with regard to the Company's subsidiary, Ferrexpo Poltava Mining, as announced on 11 March 2024, the Company has decided that more time is needed to finalise its full year financial results. The Company will make further announcements relating to the finalisation and release of the full year financial results as appropriate.
Separately, the anticipated hearing at the Commercial Court in Poltava Oblast (the "Court") today, as noted on 11 March 2024, to consider the application from LLC PCC "Kysen" ("Kysen") has been postponed. At the present time, the date of the rescheduled Court hearing is not known. The Company is continuing to explore options to settle the Kysen debt or agree an extension of payment terms.
For further information please contact:
| Ferrexpo: | ||
| Nick Bias | n.bias@ferrexpo.ch | +44 (0)20 7389 8305 |
| | | +44 (0)7733 177 831 |
| | | |
| Tavistock: | | |
| Jos Simson | ferrexpo@tavistock.co.uk | +44 (0)20 7920 3150 |
| Gareth Tredway | | +44 (0)7785 974 264 |
About Ferrexpo:
Ferrexpo is a Swiss headquartered iron ore company, with assets in Ukraine, and a premium listing on the London Stock Exchange, and part of 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. Before Russia's invasion of Ukraine in February 2022, the Group was the world's third largest exporter of pellets to the global steel industry. The Group has a customer base comprising of premium steel mills around the world. For further information, please visit www.ferrexpo.com.
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