Mining company Ferrexpo plc with major assets in Ukraine is aware of the detention in France of its non-executive director and majority shareholder Konstantin Zhevago, but the company understands that it is caused by matters unrelated to Ferrexpo.
“Ferrexpo’s board of directors is trying to clarify the situation and will inform the market as necessary,” the company said in a statement.
As reported, the detention of Zhevago in French Courchevel for further extradition to Ukraine became known in the afternoon of December 28.
“To date, at the request of investigators of the State Bureau of Investigation (GBI) managed to detain Konstantin Zhevago in Courchevel. You know that he is the subject of several criminal proceedings with the GBI. Now the documents for his extradition are being prepared,” Tetyana Sapyan, the GBI communications adviser, said on the air of the Ukrainian TV marathon.
According to the stock exchange’s website, immediately after the news broke, the shares fell lightning fast by 4.4 pence to 168.5 pence and are now trading at 163.3 pence, about 5.5% lower than before the news of the detention.
Ferrexpo’s share price has dipped as low as 96p in the past 52 weeks amid news of production stoppages due to power supply problems caused by Russian shelling of the energy infrastructure, as well as the general global iron ore market situation.
The company’s shares were also down to 96 p. p. on the news of the production stoppages due to energy supply problems caused by Russian shelling of the energy infrastructure, as well as taking into account the global situation on the iron ore market.
