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EN+ Group PLC   -  ENPL   

Doc re. (Extension of licenses: 13E, 14B and 16B)

Released 07:00 15-Oct-2018

RNS Number : 9641D
EN+ Group PLC
12 October 2018

OFAC extends the authorisation date of General Licenses 13E, 14B and 16B to 12 December 2018

12 October 2018 - EN+ GROUP PLC (the "Company" or the "Group") (LSE: ENPL, MOEX: ENPL) announces that on 12 October 2018, the Office of Foreign Assets Control ("OFAC") of the Department of the Treasury of the United States of America extended the expiration date of certain general licenses related to the Company and United Company RUSAL PLC ("RUSAL"). These new General Licenses 13E, 14B, and 16B amend their previous versions by extending the expiration dates to 12 December 2018 ( for transactions related to the Company, RUSAL and their subsidiaries.

Following several months of intense work, Lord Barker of Battle, the Independent Chairman of the Group, has formally presented OFAC with a comprehensive plan to effect both a change of control and corporate governance reform.

However, it should be noted that there is no formal agreement with OFAC and there remains a significant amount of work to be done.

Lord Barker of Battle, independent Chairman, commented:

 "We believe we now have a strong proposal before OFAC. There are as yet no guarantees of success, but I am increasingly optimistic that we can achieve the outcome that so many workers, shareholders and stakeholders are keen to see."


For further information, please contact:

 For media:

For investors:

Tel: +7 495 642 79 37


Tel: +7 (495) 642 7937




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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Doc re. (Extension of licenses: 13E, 14B and 16B) - RNS