The Ukrainian court has imposed restrictions on the corporate rights of all Ukrainian subsidiaries of Ferrexpo plc mining company as part of an ongoing series of legal proceedings against Ferrexpo's largest owner Kostiantyn Zhevaho regarding his bank Finance and Credit, the company reported with reference to the court ruling in the Ukrainian register of court decisions.

“These restrictions are imposed on 49.5% of the shares of the Ukrainian subsidiaries of the group, with the exception of TIS-Ruda LLC and Nova-Logistics LLC, where the collective restriction is 24.7% and 25.2%, respectively,” Ferrexpo said.

According to it, the restrictions do not affect the ownership of shares, but prohibit their transfer and limit certain rights associated with the shares, including voting rights.

The restrictions introduced are different from the restrictions associated with the stock freeze, which were previously announced on March 7, 2023 and September 21, 2023, the company also noted.

Ferrexpo states that it does not have, and has never had, the intention to transfer shares of its subsidiaries, it said. The group is currently reviewing possible legal and other means available and intends to vigorously defend its rights, the statement said.

It also states that Ferrexpo's operations continue unchanged and further announcements will be made as necessary.