Business
Circular and Notice of General Meeting
Circular and Notice of General Meeting.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n \n \n 10 May 2022\n \n \n \n Ferrexpo plc\n \n \n \n \n (\"Ferrexpo\" or the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n \n Circular and Notice of General Meeting to approve proposed related party transactions\n \n \n \n \n \n \n Ferrexpo plc (LSE: FXPO), the world's third largest exporter of high grade iron ore pellets to the global steel industry, with operations in central Ukraine, announces that that it has today published a Circular and Notice of General Meeting to approve proposed related party transactions. The General Meeting will be held at 11.15 a.m. on 15 June 2022 (or as soon thereafter as the Annual General Meeting of the Company convened for 11.00 a.m. on that day has been concluded or adjourned).\n \n \n In accordance with Listing Rule 9.6.1R, a copy of the Circular and Notice of General Meeting has been uploaded to the National Storage Mechanism and will shortly be available in unedited full text at\n \n https://data.fca.org.uk/#/nsm/nationalstoragemechanism\n \n . The Circular and Notice of General Meeting will be available to view on the Group's website at \n \n www.ferrexpo.com\n \n .\n \n \n As noted in the Company's full year results announcement published on 22 April 2022, during the financial year 2021, the Board of Ferrexpo (\"Board\") became aware of a technical issue in respect of the interim dividend of 39.6 US cents per Ordinary Share paid on 26 August 2021. When this was identified, the Board decided to perform a thorough review of historic dividend payments and as a result identified a technical issue in respect of all or a portion of certain dividends paid in 2010 and 2011 (together with the 2021 interim dividend, the \"Relevant Distributions\"). The total value of the Relevant Distributions made otherwise than in accordance with the Companies Act 2006 (the \"Act\") is up to US$288,966,000.\n \n \n The Act provides that a public company may pay a dividend out of its distributable profits as shown in the last accounts circulated to members or, if interim accounts are used, those that have been filed at Companies House. The requirement for the relevant accounts to have been filed applies even if the company in question has sufficient distributable profits at the relevant time. In addition to having sufficient distributable profits, the Act provides that a public ...