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EVRAZ plc announced on March 11, 2022, that it indefinitely suspended the demerger process of its coal assets, consolidated under PJSC Raspadskaya. The Company cited a need for clarification regarding regulatory restrictions from the Office of Financial Sanctions Implementation (OFSI), HM Treasury, following a Financial Sanctions Notice issued on March 10, 2022, and from Russian authorities regarding shareholder rights.
| Date | 11 Mar 2022 |
| Time | 12:35:46 |
| Category | Corporate updates |
| ID | 5340E |
11 March 2022
EVRAZ plc ("EVRAZ" or the "Company")
Demerger update
EVRAZ announces today that it suspends the process of the demerger of its coal assets consolidated under PJSC Raspadskaya (the "Demerger") indefinitely as the Company anticipates clarification regarding regulatory restrictions, both from the Office of Financial Sanctions Implementation (OFSI), HM Treasury, following the Financial Sanctions Notice issued on March 10th, 2022 and from the Russian authorities on the shareholder rights to dispose of the shares received as part of the demerger process.
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