Evraz Plc DEMERGER UPDATE -- PROJECT CANCELATION (9654G)
April 01 2022 - 6:26AM
UK Regulatory
TIDMEVR
RNS Number : 9654G
Evraz Plc
01 April 2022
DEMERGER UPDATE - PROJECT CANCELATION
1 April 2022 - EVRAZ plc (the "Issuer", the "Company") informs
that further to the Company's announcement on 11 March 2022
regarding the suspension of the process of the demerger of its coal
assets consolidated under PJSC Raspadskaya (the "Demerger"), the
Company wishes to provide an update.
As explained in the Circular to shareholders published on 15
December 2021 (the "Demerger Circular"), completion of the Demerger
was subject to the satisfaction of certain conditions. The General
Meeting of the Company held on 11 January 2022 approved the
Demerger which was conditional on the approval of the directors of
the Company. EVRAZ Shareholders voted in favour of the Resolutions
having considered the risks and uncertainties described in Part IV
(Risk Factors) of the Demerger Circular.
In light of the unprecedented sanctions against Russia and
Russian special economic measures in response to sanctions, which
were outside of control of the Company, execution of the
transaction became technically impossible and the decision has been
taken not to proceed with the Demerger.
As a result, EVRAZ Shareholders registered on the EVRAZ Share
Register at the Demerger Record Time will not receive their RASP
Shares, the RASP Group will not separate from the EVRAZ Group and
will continue to form a part of the EVRAZ Group.
As long as the RASP Group remains a part of the EVRAZ Group, the
Company's shares will also represent an interest in the RASP Group
subject to the Company's listing of shares being restored.
Terms used and not defined in this announcement bear the
meanings given in the Demerger Circular.
###
For further information:
Investor Relations:
+7 495 232 1370
+44 207 290 1095
ir@evraz.com
Media Relations:
+7 495 937 6871
+44 207 290 1096
media@evraz.com
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END
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April 01, 2022 06:26 ET (10:26 GMT)
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