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EN+ Group PLC   -  ENPL   


Released 14:54 18-May-2018

RNS Number : 6211O
EN+ Group PLC
18 May 2018




18 May 2018 - En+ Group plc (the "Company", "En+ Group" or together with its subsidiaries "the Group") announces that:

At the Company's Board of Directors (the "Board") meeting held this morning, the Board unanimously endorsed the Independent Chairman's proposals and strategy ("the Barker Plan") to have sanctions imposed on the Company by the Office of Foreign Assets Control (OFAC) lifted (and with it sanctions on the Company's subsidiaries, including UC Rusal Plc ("Rusal") and JSC Eurosibenergo) by severing the control of the Company by its ultimate controlling shareholder and a non-executive director, Mr. Oleg Deripaska. The Barker Plan seeks to both reduce Mr. Deripaska's shareholding below 50% and to end his influence over the Board through the appointment of a majority of independent directors.


Following the Board meeting, the Chairman formally accepted both Mr. Oleg Deripaska's resignation as a director of the Company, with immediate effect and his undertaking not to seek re-election as a director of Rusal, at the forthcoming Annual General Meeting.


Under the terms of the shareholders' agreement between EN+ Group Limited, Glencore International AG, SUAL Partners Ltd. and Onexim Holdings Limited dated 22 January 2010, Lord Barker of Battle, in his capacity as the Chairman, will propose that Mr. Philippe Mailfait, currently an independent director of En+ Group will replace Mr. Oleg Deripaska on the Board of Directors of Rusal.


For further information, please visit or contact:


For media:


For investors:

Tel: +7 495 642 79 37


Tel: +7 (495) 642 7937




All announcements and press releases published by the Company are available on its website under the link:



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.




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