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Ferrexpo plunges as two directors and auditor Deloitte quit over charity scandal

Mining News - Published on Mon, 29 Apr 2019

Image Source: Reuters
Shares in Ferrexpo plunged after its auditor Deloitte resigned over a spat about donations to a charitable foundation and two non-executive directors Mary Reilly and Bert Nacken said they will step down at the AGM on June 7. Around GBP 449 million was wiped off the value of the iron ore miner, with the stock down 28.4% or 76.3p at 192.6p.

Ferrexpo has been facing a scandal in Ukraine over alleged suspicious payments to a charity called Blooming Land, which it is claimed has links to the miner’s owner Kostyantin Zhevago.

Source :

Posted By : Rabi Wangkhem on Mon, 29 Apr 2019
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