RE: Can suspended companies pay a divi?10 Mar 2022 14:53
Russian steelmaker Evraz, whose London-listed shares plummeted after Russia invaded Ukraine, said that in the light of sanctions it does not consider itself to be an entity owned by, or acting on behalf or at the direction of, any persons connected with Russia, notably Roman Abramovich who is its biggest shareholder, Alexander Abramov and Alexander Frolov.
The company said that in the event that it becomes an entity owned by, or acting on behalf or at the direction of, a person “connected with Russia” under the regulations, any further share issuance may be subject to the UK sanctions regime and may result in a suspension of its listing on the London Stock Exchange.
“Although the imposition of international sanctions against Russia and the restrictions imposed by Russia are creating certain frictions in supply, logistics and financial flows, to date there has been no material direct impact on day-to-day operations, trading or the financial position of Evraz,” it said in an unscheduled update.
“The company will continue to keep Evraz shareholders updated in accordance with its legal and regulatory obligations.”
It said the proposed demerger of its coal assets is proceeding, though it is keeping the situation under review. It believes it will serve the long-term interests of Evraz’s shareholders, employees, clients and other stakeholders.
It said it is “deeply concerned and saddened” by the Ukraine-Russia conflict and hopes that a peaceful resolution will be found soon.
The company has done everything it can to disconnect itself from the Kremlin. They have solely been suspended due to a major shareholder being sanctioned. Jheez the idiots on here still banging on about dividends... They just cancelled the last dividend and we will be lucky if trading resumes on the LSE. There are much bigger issues than dividends here, fgs!
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