Message From My Stockbroker14 Aug 2025 17:12
"EVRAZ Plc has announced that on 22 July 2025, a Russian court suspended its rights to control one of its main Russian assets, JSC Evraz NTMK, under the Economically Significant Organizations (ESO) Law, with immediate effect. EVRAZ plc has stated that it intends to appeal this decision.
As a result, EVRAZΒs Russian steel operations are expected to be consolidated into a new public company, PJSC Evraz, which is anticipated to list on the Moscow Exchange (MOEX) in the first half of 2026.
EVRAZ plc shareholders may be given the option to apply for shares in PJSC Evraz. However, for non-Russian investors, such shares would be issued into restricted Type ΒCΒ accounts in Russia. These accounts do not permit access, trading, or dividend payments, and there is no guarantee of future value or liquidity.
At present, it is not confirmed whether the conversion will be mandatory or optional for non-Russian holders. Further updates will be provided once the company releases more detailed information.
To view the announcement, please copy and paste the following link into your web browser:
https://www.evraz.com/en/news-and-media/press-releases-and-news/the-suspension-of-evraz-plc-corporate-rights-under-the-law-on-economically-significant-organizations/"
What does that mean for us shareholders in the UK?