Ferrexpo plc (LSE: FXPO), a producer and exporter of high grade iron ore pellets to the global steel industry, provides the following update regarding Non-executive Director Kostyantin Zhevago.
Following yesterday's media reports, the Board of Directors (“Board”) of Ferrexpo has met regularly, considered Mr Zhevago's position as a Director of the Company, received advice from its external advisers, and been in contact with Mr Zhevago’s representatives and family members, to seek to clarify his current situation.
The Company announces that Mr Zhevago will leave the Board of Ferrexpo plc. The Board has been informed that Mr Zhevago is prepared to step down from the Board of Ferrexpo plc immediately. The Board is taking steps to document his resignation formally and will update the market as appropriate.
Link to full PDF version of this release: click here.
For further information, please contact:
Ferrexpo:
Rob Simmons
[email protected]
+44 207 389 8305
Tavistock:
Jos Simson / Emily Moss / Gareth Tredway
[email protected]
+44 207 920 3150 / +44 7785 974 264
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group’s iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore. Ferrexpo’s operations have been supplying the global steel industry for over 50 years and in 2021 the Group produced 11.2 million tonnes of iron ore pellets, placing Ferrexpo as the world’s third largest exporter of pellets to the global steel industry with a market share of approximately 9%. The Group has a global customer base comprising of premium steel mills around the world, which includes steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. For further information, please visit www.ferrexpo.com.