By KYIV. Jan 3 (Interfax-Ukraine) – Majority shareholder and non-executive director of Ferrexpo mining company Kostiantyn Zhevaho, in respect of whom a French court ruled on extradition arrest last week, is leaving the board of directors of Ferrexpo, but may appoint his representative to the governing body.
"In addition to the company’s announcement dated December 29, 2022, Ferrexpo’s board of directors can confirm that it has received Mr. Zhevaho’s formal resignation, effective December 29, 2022. The company notes that the current relationship agreement with Mr. Zhevaho allows him to appoint a non-executive director to the board as his representative," the company said.
At the same time, it is specified that at present Zhevaho did not use this right after his resignation.
As reported, the detention of Zhevaho in Courchevel in France with a view to subsequent extradition to Ukraine became known on December 28.
The State Bureau of Investigation clarified that as part of the investigation into the criminal proceedings, Zhevaho, a shareholder of Bank Finance and Credit, was notified of suspicion of committing criminal offenses under Part 3 of Article 27, Part 5 of Article 191, Part 3 of Article 209 of the Criminal Code of Ukraine. Suspicions were also brought against a number of top managers of the specified bank.
Ferrexpo is an iron ore company with assets in Ukraine.
Ferrexpo owns 100% of Yeristovo GOK LLC and 99.9% of Belanovo GOK LLC. Prior to the court decision in September 2022, Ferrexpo also owned 100% of the shares of PrJSC Poltava GOK.
