StockMarketWire.com - Ferrexpo said a Ukrainian court had frozen its stake in Ferrexpo Poltava Mining amid a corruption probe into Kostyantin Zhevago, who temporarily stepped down as the company's chief executive last year.
The court had placed a restriction covering 50.3% of the shares in Ferrexpo Poltava Mining, but the restriction did not affect ownership of the shares but prohibited their transfer, the company said.
'Ferrexpo believes that an appeal should be successful given the advice received that the order has no proper or reasonable basis under Ukrainian law,' it added.
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