EVRAZ Plc Considers Itself Not Connected With Russia Under Regulations

EVRAZ plc (EVR.IL) issued an update in light of recent developments in Ukraine. The company said it does not consider itself to be an entity owned by, or acting on behalf or at the direction of, any persons connected with Russia. The company has not issued any transferable securities or money-market instruments since 12:01 a.m. on 1 March 2022.

The company noted that in the event that it becomes an entity owned by, or acting on behalf or at the direction of, a person connected with Russia under the regulations, any further share issuance may be subject to the UK sanctions regime and hence may result in a suspension of the company's listing on the London Stock Exchange's Main Market for listed securities.

EVRAZ said although the imposition of international sanctions against Russia and the restrictions imposed by Russia are creating certain frictions in supply, logistics and financial flows, to date there has been no material direct impact on day-to-day operations, trading or the financial position of EVRAZ.

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