The Board of Ferrexpo is aware of allegations made on social media that the Group's CEO and majority shareholder, Kostyantin Zhevago, has been served with a notice of suspicion regarding an investigation in Ukraine relating to one of the businesses he owned until 2015.
Mr Zhevago strongly denies any allegations of wrongdoing.
Mr Zhevago has informed the Board of Ferrexpo that he has not received a notice of suspicion in accordance with Ukrainian law. Additionally the public dissemination of such untrue information in the media violates his rights and legitimate interests as a citizen of Ukraine, and causes direct reputational and economic damage to the businesses where Mr Zhevago is a shareholder. This undermines the international authority and economy of the country of Ukraine and jeopardizes the future implementation of major investment projects in Ukraine.
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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 40 years. Ferrexpo's resource base is one of the largest iron ore deposits in the world. In 2018, the Group produced 10.6 million tonnes of pellets, a 2% increase compared to 2017, ranking it as the 3rd largest exporter of pellets to the global steel industry with a market share of approximately 8%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com
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