Evraz Plc EXERCISE OF PUT OPTION IN RESPECT OF YGOK SHARES (1574U)
March 27 2019 - 6:00AM
UK Regulatory
TIDMEVR
RNS Number : 1574U
Evraz Plc
27 March 2019
EXERCISE OF PUT OPTION IN RESPECT OF YUZHNIY GOK SHARES
EVRAZ plc ("EVRAZ", the "Company" and together with its
subsidiaries, the "Group") announces today that Evraz Group S.A.
("EGSA"), its fully owned subsidiary, decided to execute the put
option in respect of Yuzhniy GOK shares ("Transaction").
Transaction Highlights
According to the put option agreement, EGSA will sell 17,002,250
shares in PJSC "Yuzhniy GOK" to Lanebrook Limited ("Lanebrook") for
US$32,304,275.
17,002,250 shares represent approximately 1% ownership interest
in Yuzhniy GOK.
Transaction allows the Company to sell a minority stake in the
non-core asset on favorable terms.
Pursuant to UK Listing Authority ("UKLA") Listing Rule 11.1.4R,
Lanebrook Limited is classified as a related party of EVRAZ, due to
its direct shareholders also being substantial shareholders in the
Company. The Transaction, therefore, constitutes a smaller related
party transaction as defined under UKLA Listing Rule 11.1.10R and
EVRAZ has accordingly obtained a written confirmation from a
sponsor that the terms of the transaction are fair and reasonable
as far as shareholders of EVRAZ are concerned.
Background
Lanebrook Limited and EGSA have entered into Put Option
Agreement dated 8 December 2017 for 100% of the Nafkratos Limited
shares whereby Lanebrook has irrevocably granted to EGSA a put
option, exercisable by EGSA and permitting EGSA to sell to
Lanebrook, and to require Lanebrook to purchase 100% of Nafkratos
Limited shares.
For further information:
Media Relations:
London: +44 207 832 8998
Moscow: +7 495 937 6871
media@evraz.com
Investor Relations:
London: +44 207 832 8990
Moscow: +7 495 232 1370
ir@evraz.com
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END
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