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Announcement

23 April 2018

Given recent media publications regarding Promyshlenniy Selskhokhozyaistvenniy Bank LLC (“Promselhozbank”) intention to file the bankruptcy petition against FESCO PLC (“Company”, the parent company of FESCO Transportation Group) to the Moscow Arbitration Court, the Company notes that the claim for its insolvency is groundless.

According to Company’s sources, Promselhozbank does not presently hold any of the Company’s debt securities. Also, Promselhozbank did not required redemption of the BO-01 series bonds or the coupon payment in respect of the bonds earlier. So the Company believes that the intention of the Promselhozbank to file the bankruptcy petition against the Company is legally groundless.
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