Ferrexpo PLC Notice of AGM, Annual Report and Final Dividend (7102V)

TIDMFXPO

RNS Number : 7102V

Ferrexpo PLC

16 April 2021

16 April 2021

Ferrexpo plc

("Ferrexpo", "the Company" or the "Group")

Notice of Annual General Meeting, 2020 Annual Report and Proposed Final Dividend for 2020

Notice of Annual General Meeting 2021 and Publication of 2020 Annual Report and Accounts

Ferrexpo announces that it has today published its Annual Report and Accounts for the year ended 31 December 2020 (the "2020 Annual Report") and Notice of Annual General Meeting ("AGM") to be held on 27 May 2021.

The 2020 Annual Report and Notice of AGM 2021 are available to view on our website at www.ferrexpo.com and have been posted to shareholders.

In accordance with Listing Rule 9.6.1R, a copy of the 2020 Annual Report and Notice of AGM 2021 will be uploaded to the National Storage Mechanism and will shortly be available for viewing at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

Arrangements for AGM in light of COVID-19

Ferrexpo is closely monitoring the situation in relation to the COVID-19 pandemic, including government measures, and will continue to do so in the lead up to the AGM.

Updates on the status of the AGM and any changes to the proceedings of the meeting will be published at www.ferrexpo.com .

Proposed Final Dividend for 2020

The Board of Directors ("Board") of Ferrexpo is pleased to propose a final ordinary dividend for the 2020 financial year end of 13.2 US cents per share (final ordinary dividend for 2019: 3.3 US cents per share), for approval by shareholders at the Group's AGM on 27 May 2021. The dividend proposed today reflects the current strength of the Group's balance sheet, robust iron ore prices and pellet premiums. Total dividends announced and proposed in respect of 2020 are therefore 85.8 US cents per share (2019: 19.8 US cents per share), with this increase in shareholder returns indicative of the ongoing strength of the Group's operations and balance sheet, resilience of the business throughout the global COVID-19 pandemic and broader iron ore market conditions.

After deducting special interim dividends announced in 1Q 2021, under the revised terms of the Group's major bank debt facility, the remaining total available distributable reserves in 2021, subject to relevant thin capitalisation rules and company law distribution requirements, will be the equivalent of approximately 29.9 US cents per share [1] .

If approved by shareholders at the AGM , payment of the final ordinary dividend will be made on 1 July 2021 to those shareholders on the register at the close of business on 18 June 2021. Dividends will be paid in UK Pounds Sterling, with an election to receive in US Dollars.

For further information, please contact:

 
   Ferrexpo: 
   Rob Simmons         [e-mail]    [phone] 
   Tavistock: 
   Jos Simson 
    Emily Moss                                  [phone] 
    Gareth Tredway   [e-mail]    [phone] 
 

Notes to Editors:

Ferrexpo 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 40 years. In 2020, the Group produced 11.2 Mt of iron ore pellets, a 7% increase on the prior year. The Company is ranked as the world's 3(rd) largest exporter of pellets to the global steel industry with a market share of approximately 9%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com.

[1] Based on the Group's current total issued share capital (excluding treasury shares) of c.588.6 million shares.

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April 16, 2021 02:00 ET (06:00 GMT)