OFAC extends the authorisation date of General Licenses 13D, 14A and 16A to 12 November 2018
24 September 2018 — EN+ GROUP PLC (the “Company” or the “Group”) (LSE: ENPL, MOEX: ENPL) announces that on 21 September 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 13D, 14A, and 16A amend their previous versions by extending the expiration dates to 12 November 2018 (https://home.treasury.gov/news/press-releases/sm492) for transactions related to the Company, RUSAL and their subsidiaries.
Lord Barker of Battle, independent chairman, commented:
“We have continued to engage with OFAC in relation to the Barker Plan, which includes substantial corporate governance changes that could potentially result in significant changes in the control of the Group. Although there is a lot of work to do, the granted short extension to our current licenses is intended to allow additional time for OFAC to review the proposed changes. ”
The Company proceeds in its engagement with OFAC and other relevant counterparties with the aim of fully implementing the Barker Plan, with the ultimate goal of protecting the interests of all group stakeholders, investors and employees of the Group worldwide.