Business
Pledge of shares
Pledge of shares.
About this update from Evraz Plc
[{"type":"text","content":"\n \nRNS Number : 0275E Evraz Plc 03 May 2013 \n \n\nANNOUNCEMENT OF PLEDGE OF SHARES\n \n3 May 2013 - EVRAZ plc (LSE: EVR) has been informed of a potential pledge of EVRAZ's shares by the majority shareholder Lanebrook Limited (\"Lanebrook\") under an agreement executed by Lanebrook.\n \nUnder this agreement, EVRAZ plc shares may on occasion be used as temporary collateral. The total maximum amount of EVRAZ's shares that can be used as collateral is the lower of 7% of total issued ordinary shares of EVRAZ or the number of EVRAZ's shares equating to an aggregate value of US$130 million at the then-prevailing market price and exchange rate.\n \nNo transfer of title of property on EVRAZ's shares is expected as a result of this pledge agreement.\n \nFurther announcements will be made should the shares be used as collateral.\n \n###\n \nFor further information:\n \nMedia Relations: \nOleg Kuzmin\nVP, Corporate Communications\nLondon: +44 207 832 8998 Moscow: +7 495 937 6871\[email protected]\n \nInvestor Relations:\nSergey Belyakov\nDirector, Investor Relations\nLondon: +44 207 832 8990 Moscow: +7 495 232 1370\[email protected]\n \n \nEVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top steel producers in the world based on crude steel production of 15.9 million tonnes in 2012. In 2012 EVRAZ sold 15.3 million tonnes of steel products. A significant portion of the company's internal consumption of iron ore and coking coal is covered by its mining operations. The company's consolidated revenues for the year ended 31 December 2012 were US$14,726 million, and consolidated EBITDA amounted to US$2,012 million. \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCEXLFBXEFLBBB\n ","length":3592,"tagName":"div"}]