Evraz Plc Demerger Update (0695B)
February 08 2022 - 11:00AM
UK Regulatory
TIDMEVR
RNS Number : 0695B
Evraz Plc
08 February 2022
EVRAZ plc
FOR IMMEDIATE RELEASE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
8 February 2022
EVRAZ plc ("EVRAZ" or the "Company")
Demerger Update
Further to the Company's announcement on 15 December 2021
regarding the potential demerger of its coal assets consolidated
under PJSC Raspadskaya (the "Demerger"), the Company today
announces that the Capital Reduction has been confirmed by the UK
Court.
The Capital Reduction will become effective upon the Court order
being registered by the Registrar of Companies, which is expected
to take place during the course of this week. The Company notes
that, once the Capital Reduction has become effective, the Company
will have sufficient distributable reserves to effect the Demerger.
Further to the Company's announcement on 1 February 2022 that
848,188,421 deferred shares of US$9.66766321843 each (the "Capital
Reduction Shares") were issued by the Company, such Capital
Reduction Shares will be cancelled once the Capital Reduction
becomes effective. The timetable set out in that announcement
remains the expected timetable in relation to the Demerger.
Defined terms used but not defined in this announcement have the
meanings set out in the Shareholder Circular published by the
Company on 15 December 2021. The Shareholder Circular includes
details on the steps EVRAZ Shareholders are advised to take to
receive the RASP Shares to which they will be entitled following
the Demerger, which will include opening or otherwise holding an
account with a direct or indirect participant of a clearing
institution eligible to receive RASP Shares (such as Euroclear,
Clearstream or the NSD), and providing the details of such account
to the Company's registrar by no later than 15 March 2022. The
Shareholder Circular also includes details on the Share Sale
Facility.
For further enquiries:
Irina Bakhturina (Investor +44 207 290 1095 / +7 495 232
Relations) 1370
+44 207 290 1096 / +7 495 937
Maria Starovoyt (Media Relations) 6871
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END
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February 08, 2022 11:00 ET (16:00 GMT)
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