Results of the General Meeting of independent shareholders. Disposal of Joint Stock Company EVRAZ Nakhodka Trade Sea Port is approved
EVRAZ plc announces that at the General Meeting of the independent shareholders of the Company held on Tuesday 23 May 2017 at 10.00 am (London time) at the offices of Clifford Chance LLP, 10 Upper Bank Street, London E14 5JJ the ordinary resolution set out in the circular relating to the recommended proposal for the Disposal of Joint Stock Company EVRAZ Nakhodha Trade Sea Port to Lanebrook Limited dated 3 May 2017, was proposed and passed by way of a poll. Completion of the transaction is expected to occur by 15 June 2017.
Publication and Posting of Shareholder Circular
Further to the announcement made earlier today regarding the proposed disposal of Joint Stock Company EVRAZ Nakhodka Trade Sea Port (the “Nakhodka Port”) to Lanebrook Limited, EVRAZ plc (“Evraz”) announces that the shareholder circular (the “Circular”) relating to the disposal of the Nakhodka Port (the “Transaction”) has been approved by the UK Listing Authority.
EVRAZ PLC enters into agreement to dispose of Joint Stock Company Evraz Nakhodka Trade Sea Port to Lanebrook Limited
EVRAZ plc (“EVRAZ”, the “Company” and together with its subsidiaries, the "Group") announces today that it has signed an agreement to dispose of the entire issued share capital of its fully owned subsidiary Joint Stock Company EVRAZ Nakhodka Trade Sea Port (the “Nakhodka Port”) to its majority shareholder Lanebrook Limited (“Lanebrook”) for consideration of US$354.4 million (the “Transaction”). As part of the Transaction, the Company and Nakhodka Port have also entered into a transhipment agreement (the "Transhipment Agreement"), pursuant to which the Group has agreed to supply and Nakhodka Port has agreed to tranship cargoes of coal and metals in specified volumes and at specified tariffs for a period of five years.