Mining company Ferrexpo Plc with main assets in Ukraine is aware that Kostiantyn Zhevaho, its non-executive director and majority shareholder, has been detained in France, but the company understands that this is in relation to matters unrelated to Ferrexpo.

"The Board of Directors of Ferrexpo is seeking to clarify the situation and will update the market as appropriate," the company said in a report on the stock exchange.

As reported, the detention of Zhevaho in French Courchevel with a view to subsequent extradition to Ukraine became known on the afternoon of December 28.

According to information on the website of the exchange, immediately after the news broke, the shares fell 4.4 pence at lightning speed to 168.5 pence, and now they are trading at a rate of 163.3 pence, which is about 5.5% lower than before the news about detention.

Over the past 52 weeks, Ferrexpo's share price has also fallen further to 96 pence amid news of a halt in production due to power supply problems caused by Russian shelling of energy infrastructure, as well as taking into account the general global situation in the iron ore market.

Quotes reacted weakly to news in the middle of November about searches at the company's enterprises in Poltava region on charges of understating the royalty for the use of subsoil by UAH 10 billion, remaining at the level of about 142-143 pence.

However, in general, the value of Ferrexpo fell by 45% over the year, including 33.5% since the beginning of the war.