Given recent media speculation regarding the bankruptcy petition filed against FESCO PLC (“Company”, parent company of FESCO Transportation Group) by Russian Management Company Arsagera ("Arsagera"), the Company reaffirms that such claim is groundless.
To avoid spread of unreliable information about restructuring of the Company’s indebtedness, the Company announces it remains engaged in a constant dialogue with major creditors, including RUB bondholders, and notes progress in the dialogue. The statement on Company’s insolvency is unfunded.
The Company believes it will achieve agreement with key creditors by the middle of the year. The Company remains committed to protecting the interests of all its stakeholders.
Further, the Company does not expect its RUB bonds restructuring to have an adverse impact on its operations and collaboration with its partners, including vendors and clients. The Company continues to do business as usual.