30th Sep 2019 09:19
(Alliance News) - Ferrexpo PLC on Monday confirmed that Kostyantin Zhevago, its chief executive and major shareholder, has not received a Ukrainian notice of suspicion.
Ferrexpo noted allegations made on "social media" that Zhevago has been served with a notice of suspicion regarding an investigation in Ukraine relating to one of the businesses he owned until 2015. Zhevago "strongly denies any allegations of wrongdoing", the company added.
"Additionally the public dissemination of such untrue information in the media violates his rights and legitimate interests as a citizen of Ukraine, and causes direct reputational and economic damage to the businesses where Mr Zhevago is a shareholder," said Ferrexpo.
In a separate matter, Ferrexpo late last month had said it is possible payments made to a charity were used inappropriately, but stressed no directors of the company are involved. Ferrexpo set up an independent committee to look into allegations payments made by the company to Ukrainian charity Blooming Land were misused.
The independent committee was set up after the firm's auditor Deloitte LLP resigned in April, saying Ferrexpo had refused to set up an independent investigation into the matter in January.
Shares in the iron ore pellet producer were down 0.4% at 161.75 pence in London on Monday morning.
By Lucy Heming; [email protected]
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