Business
Related Party Transaction
Related Party Transaction.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n \nRNS Number : 2107Q Ferrexpo PLC 28 August 2014 \n \n\n28 August 2014\nFerrexpo plc\n(\"Ferrexpo\", the \"Group\" or the \"Company\")\n \nRelated Party Transaction\n \nFerrexpo today announces that Ferrexpo Yeristovo Mining (FYM), a subsidiary of the Group, has agreed to acquire in two separate transactions a two kilometre railway line and an associated power line from LLC Vorskla Steel, a company controlled by Ferrexpo's majority shareholder Kostyantin Zhevago. \n \nThe transactions reduce FYM's cost to access the local rail network and have been concluded following an independent review in accordance with the Listing Rule 11.1.10 R (2)(b). The cash consideration (excl. VAT) for each transaction respectively is UAH 5,819,952 and UAH 545,531 (USD 418,976 and USD 39,273 at prevailing exchange rates).\n \nThe announcement is made in accordance with the requirement in Listing Rule 11.1.10 R (2)(c).\n \n \nFor further information contact:\n \n\n\n\n\nFerrexpo:\n\n\n\n\n\n\n\nIngrid McMahon\n\n\n+44 207 389 8304\n\n\n\n\n\n\n\n\n\n\n\n\nMaitland:\n\n\n\n\n\n\n\nPeter Ogden\n\n\n+44 207 379 5151\n\n\n\n\nLiz Morley\n\n\n\n\n\n\n\n \n \nNotes to Editors:\n \nFerrexpo 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 over 35 years. Ferrexpo's resource base is one of the largest iron ore deposits in the world. The Group is the 5th largest supplier of pellets to the global steel industry and the largest exporter of pellets from the CIS. In 2013, it produced 10.8 million tonnes of pellets, a 12% increase compared to 2012. Ferrexpo has a diversified customer base supplying steel mills in Austria, Slovakia, the Czech Republic, Germany and other European states, as well as in China, India, Japan, Taiwan and South Korea. Ferrexpo is listed on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCDMGZRVRGGDZG\n ","length":4598,"tagName":"div"}]