Last checked at 18 Dec 2013 07:00
18 December 2013
Ferrexpo plc
("Ferrexpo", the "Group" or the "Company")
Update on Free Float
In order to remain within the FTSE UK Index Series, Ferrexpo is required to increase its free float from 23.3% to at least 25% by 4 March 2014.
The Company has been informed by Fevamotinico S.a r.l., which is ultimately controlled by Kostyantin Zhevago, that it intends to sell approximately 4.1 million shares to reduce its holding from 51% to 50.3% and increase the free float to 24%. The Company has also been informed that BXR Group intends to make disposal of shares sufficient to bring the free float of the Group to the required 25% level before 4 March 2014.
For further information, please contact:
Ferrexpo: | |
Ingrid McMahon | +44 207 389 8304 |
Brunswick Group | |
Carole Cable | +44 207 404 5959 |
Richard Meredith | +44 207 404 5959 |
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for over 35 years. Ferrexpo's resource base is one of the largest iron ore deposits in the world. In 2012, the subsidiary, Ferrexpo Poltava Mining (FPM), produced 9.3 million tonnes of iron ore pellets, while first ore was reached at the new Ferrexpo Yeristovo Mining (FYM) open pit. Ferrexpo was the largest exporter of pellets in the CIS in 2012. The Group has a diversified customer base supplying steel mills in Austria, Slovakia, Czech Republic, Germany and other European states, as well as in China, India, Japan, Taiwan and South Korea. Ferrexpo is listed on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com