20th Jun 2019 09:00
(Alliance News) - Evraz PLC on Thursday said senior company executives have completed the previously announced 1.7% stake sale in the company.
The Russian steelmaker said Non-Executive Chair Alexander Abramov, Chief Executive Officer Alexander Frolov, Non-Executive Director Eugene Shvidler and Chelsea football club owner Roman Abramovich have collectively sold 24.9 million shares at 635 pence each, equating to GBP158.1 million in total.
Shares in Evraz were down 5.3% at 640.20 pence each on Thursday morning.
The company was not a party to the share sale and will not receive any proceeds from the placing.
Abiglaze Ltd, which is related to Chair Abramov, sold 8.3 million shares or 0.6% stake; Crosland Global Ltd - related to Chief Executive Frolov - sold 4.2 million shares, or 0.3% stake; Toshi Holdings, connected to Director Shvidler, sold 1.2 million shares, or 0.1%; and Greenleas International, which is related to businessman Abramovich, sold 11.3 million shares or 0.8% stake.
Following the sale, Abiglaze, Crosland Global, Greenleas International and Toshi Holdings will continue to hold 19.4%, 9.7%, 28.8% and 2.8% stake in Evraz, respectively. The investors are subject to a lock-up of 60 days with the banks, with customary exceptions, in respect of their remaining shareholding.
Citigroup Global Markets Ltd, Credit Suisse Securities Europe Ltd and UBS Europe SE acted as the joint global coordinators and joint bookrunners in respect of the share placing.
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