Share Prices & Company Research

Market News

06 Oct 2020 | 09:06

Ferrexpo's Ukrainian appeal dismissed by Kyiv district court

(Sharecast News) - Iron ore company Ferrexpo has seen a district court in Kyiv place a restriction covering more than half of the Swiss firm's shares in Ferrexpo Poltava Mining. The Kyiv Court of Appeal dismissed Ferrexpo AG's appeal against the court order covering 50.3% of its stake in the Ukrainian subsidiary on Monday.

While the restriction does not affect ownership of the shares in Ferrexpo Poltava, it does prohibit their transfer. However, Ferrexpo said its Swiss parent had no intention to transfer its shareholding in FPM and stated that operations remained unaffected despite the ruling and continued as normal.

Ferrexpo added that it was considering its options regarding further legal action against the restriction.

In terms of recent trading, Ferrexpo said third-quarter operations were only minimally impacted by the Covid-19 pandemic, with pellet production down 12% to 2.5m tonnes in the period.

Pellet production for the nine months ended 30 September was up 3% year-on-year at 8.1m tonnes.

As of 0905 BST, Ferrexpo shares were down 5.27% at 164.83p.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 15th January 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.