Ferrexpo denies yesterday’s news on the buyback

Following the yesterday’s article on the intention of Ferrexpo (FXPO LN) to conduct a buyback of its shares, today Kommersant posted an article citing the company’s representative Gavin Mackay who said that Ferrexpo does not intend to buy back its shares. Mr. Mackay noted that the issue of authorizing a company to do a buyback of 10% of the company’s shares was included in the May 19 AGM’s agenda. However, this is a regular practice in every UK-registered company, and this does not mean that Ferrexpo will use this option, according to Mr. Mackay. See our yesterday’s flash note for more details.