Ferrexpo to Hold Annual Shareholders' Meeting on June 29

02.06.2026    15:22

Ferrexpo plc, a mining company with its main assets in Ukraine, has announced that it will hold its annual shareholders' meeting on June 29 of this year.

According to the company’s announcement, the total number of shares whose holders are entitled to vote at the meeting is 598,137,142 ordinary shares.

It is specified that only one class of shares is in circulation, with each share carrying one vote; therefore, the total number of voting rights exercisable at the meeting is 598,137,142.

This information from Ferrexpo is provided in accordance with Section 311A of the UK Companies Act 2006.

In a letter from the company’s interim acting chairman, Lucio Genovese, on behalf of the board of directors of Ferrexpo plc to the shareholders, it is specified that the nineteenth annual general meeting will take place at 11:00 a.m. on June 29, 2026, at the offices of Herbert Smith Freehills Kramer LLP, Exchange House, Primrose Street, London, EC2A 2EG.

He urged shareholders to participate in the meeting by submitting their votes by proxy prior to the start of the AGM or by voting online prior to the start of the AGM. Shareholders are advised to appoint the Chairman of the meeting as their proxy. To vote by proxy, you must complete, sign, and return the appropriate proxy form. The deadline for receiving proxy appointments and votes is 11:00 a.m. on June 25, 2026.

Voting on all resolutions will be conducted by a show of hands, and the voting results will be announced via the Regulatory Information Service and published on the Group’s website as soon as possible after the general meeting.

Genovese notes that the company aims to raise at least $100 million, which is needed to finance the Ferrexpo Group’s operations over the next 18 months. The Group’s operations have been significantly impacted since the start of Russia’s full-scale invasion of Ukraine in 2022, leading to a reduction in operational activities and periods of complete suspension of operations. This has significantly impacted the group’s revenue.

In addition, he says, the decision by Ukraine’s tax authorities to suspend VAT refunds starting in March 2025, amounting to approximately $90 million, has further significantly impacted the group’s liquidity. The company intends to complete the equity offering as soon as possible and is actively working toward this goal. However, it is not yet in a position to officially launch the equity offering.

"Until the share-based financing is ready to launch, the company cannot publish its audited financial results for the year ended December 31, 2025, on a going concern basis, as the company and its auditors require sufficient assurance regarding the commencement and successful completion of the share-based financing before signing off on the financial statements. Due to the delay in the equity offering and given the reliance on the commencement of the equity offering to publish the audited financial statements for the year ended December 31, 2025, on a going concern basis, the company is unable to finalize the audited annual report and financial statements for the year ended December 31, 2025, but is committed to doing so as soon as possible," the CEO stated in his address.

According to him, this general meeting of shareholders is being held solely to address routine matters, namely the re-election of directors and the renewal of authorizations granted for the market purchase of treasury shares and the convening of general meetings with 14 days’ notice. All directors will resign at the 2026 general meeting of shareholders and will seek re-election by the shareholders, with the exception of Mr. Vitaliy Lisovenko, who, as previously announced, will resign from his position as a member of the company’s board of directors upon the conclusion of the general meeting.

According to the information, the meeting proposes, in particular, to re-elect Stuart Brown, Mykola Kladiev, Lucio Genovese, and Fiona Macaulay as members of the board of directors.

As reported, Ferrexpo is delaying the publication of its audited report for 2025.

It was also reported that the London Stock Exchange (LSE) suspended trading in Ferrexpo shares, while the company warned shareholders twice in the second half of April about the suspension of its listing and trading due to its inability to publish its annual report on time. Most recently, on April 28, Ferrexpo noted that it had received indicative, non-binding expressions of interest from institutional investors in a potential capital raise of more than $100 million, on which the publication of the report also depends, but that it would not be able to do so by the end of April.

Ferrexpo owns a 100% stake in Yeristovsky GOK LLC, 99.9% in Bilanivsky GOK LLC, and 100% of the shares in Poltava GOK PJSC.

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