FERREXPO

A freighter carrying Ferrexpo pellets was struck by Russian drones in Ukrainian waters of the Black Sea, killing one crew member and damaging the ship. Ongoing drone and missile attacks have led charterers to cancel booked capacity; Ferrexpo expects to be unable to load ships via this route temporarily. The company has about 189,000 tonnes of finished pellets ready for shipment (including damaged cargo) with production and delivery costs of roughly USD 20 million and anticipates impacts on liquidity; it currently expects cash to be sufficient until the end of August 2026, depending on iron ore prices, costs and resolution of the damage. Ferrexpo has informed insurers, is assessing salvage under difficult conditions and plans a planned equity raise of at least USD 100 million to strengthen working capital. » Altro su de.investing.com

Ferrexpo has scheduled its annual general meeting for 29 June 2026. The meeting will consider only limited routine items on the agenda, such as the re-election of directors and authorisation for a share buyback. The audited annual report for the year ended 31 December 2025 is not yet available; delays to a planned capital raise and an ongoing bookbuilding process currently prevent preparing the accounts on a going-concern basis. Consequently, resolutions on the annual accounts, the appointment of auditors and the remuneration report will be tabled at a separate general meeting at a later date. Vitalii Lisovenko will not stand for re-election and will leave the board after the meeting. » Altro su de.investing.com

Ferrexpo reports available cash of US$35 million and net cash of about US$22–25 million as of 31 March, saying this level of funding is only sufficient until at least the end of June 2026. Operations in Ukraine were suspended in January and have been partially resumed; the company has cut costs and deferred investments. Ferrexpo is reviewing financing options, including a capital increase, but warns that continued withholding of VAT refunds and unresolved financing could have materially adverse consequences; the 2025 annual accounts are to be published by 30 April. » Altro su de.investing.com