Last checked at 3 May 2013 16:22
ANNOUNCEMENT OF PLEDGE OF SHARES
3 May 2013 - EVRAZ plc (LSE: EVR) has been informed of a potential pledge of EVRAZ's shares by the majority shareholder Lanebrook Limited ("Lanebrook") under an agreement executed by Lanebrook.
Under this agreement, EVRAZ plc shares may on occasion be used as temporary collateral. The total maximum amount of EVRAZ's shares that can be used as collateral is the lower of 7% of total issued ordinary shares of EVRAZ or the number of EVRAZ's shares equating to an aggregate value of US$130 million at the then-prevailing market price and exchange rate.
No transfer of title of property on EVRAZ's shares is expected as a result of this pledge agreement.
Further announcements will be made should the shares be used as collateral.
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For further information:
Media Relations:
Oleg Kuzmin
VP, Corporate Communications
London: +44 207 832 8998 Moscow: +7 495 937 6871
media@evraz.com
Investor Relations:
Sergey Belyakov
Director, Investor Relations
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top steel producers in the world based on crude steel production of 15.9 million tonnes in 2012. In 2012 EVRAZ sold 15.3 million tonnes of steel products. A significant portion of the company's internal consumption of iron ore and coking coal is covered by its mining operations. The company's consolidated revenues for the year ended 31 December 2012 were US$14,726 million, and consolidated EBITDA amounted to US$2,012 million.