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Ilyashev & Partners Secured the Lifting of the Arrest Imposed on 50.3% of Shares of Poltava Mining

News date: 1 December 2020

Ilyashev & Partners Law Firm has successfully challenged the arrest of 50.3% of shares of Ferrexpo Poltava Mining (PrJSC Poltava Mining), owned by Ferrexpo AG Switzerland.

On 30 November 2020, the Investigating Judge of Pecherskyi District Court of Kyiv, having considered the motion filed in the interests of Ferrexpo AG – the owner of the arrested property – satisfied it and lifted the arrest imposed in the criminal proceedings upon the participation interest in the amount of 50.3% of the authorized capital of PrJSC Poltava Mining. The court decision entered into force and is not subject to appeal.

PrJSC Poltava Mining is the largest Ukrainian exporter of iron ore pellets to Europe. It has a full technological cycle: from the raw ore mining to the production of iron ore pellets.

Ferrexpo Group specializes in the iron ore extraction by open-pit mining, as well as the production of iron ore pellets used in steel production. Ferrexpo’s resource base is one of the largest iron ore deposits in the world. The main production capabilities of the company are located in Ukraine: Ferrexpo AG owns 99.11% of shares of Poltava Mining, 100% of Yeristovo Mining and 99.9% of Belanovo Mining. Ferrexpo shares are listed on the main stock market of the London Stock Exchange. In the UK the company is included in the FTSE 250 Index.