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Evraz finds itself unable to gain auditor; shares remain suspended

27th Feb 2023 17:54

(Alliance News) - Evraz PLC on Monday said it has been unable to engage an auditor to review its results for 2022, due to UK sanctions imposed on the firm.

The company, a major manufacturer of Russian steel, said it has asked the secretary of state for guidance but has not received a response yet.

In May 2022, the UK government announced that Evraz had been sanctioned as it operates in sectors of strategic significance to the Russian government.

The asset freeze means no UK citizen or company can do business with them.

The deadline to publish its annual report and audited financial statements for its previous financial year is April 30 and Evraz said it is likely it will not be able to meet this deadline.

Shares in the company remain suspended in London.

By Jeremy Cutler, Alliance News reporter

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