EN+ GROUP PLC Board resignations
28 January 2019 — EN+ GROUP PLC (the “Company”, “En+ Group” or, together with its subsidiaries the “Group”), (LSE: ENPL; MOEX: ENPL), a leading international vertically integrated aluminium and power producer, announces the following.
As previously announced, on 27 January the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the Treasury has removed the Company and its subsidiaries from the SDN List with effect from 27 January 2019. The removal by OFAC of the Company and its subsidiaries from the SDN List was subject to and conditional upon the satisfaction of a number of conditions including changing the composition of the Board and of the board of directors of UC Rusal plc so that they are composed of a majority of independent directors.
In this regard, Timur Valiev, Alexander Krovushkin, Mikhail Likhotnikov, Konstantin Molodkin, Alexander Shistko, Yuri Dvoryanskiy and Denis Kholodilov have all resigned from the board of directors of the Company (the “Board”) with immediate effect.
This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.