EN+ announcements re its GDR Deposit AgreementsSource: RNS
EN+ announcements regarding its GDR Deposit Agreements
19 April 2022 - EN+ GROUP IPJSC (the "Company", "EN+" or the "Group") (LSE: ENPL; MOEX: ENPG), the world's largest producer of low-carbon aluminium and independent hydropower, announces the following:
On 16 April 2022 the Federal Law "On Amendments to the Federal Law "On Joint Stock Companies" and Certain Laws of the Russian Federation" (the "Law") was signed by the President of the Russian Federation and officially published.
The Law requires the Company to initiate the termination of the deposit agreements relating to the Company's global depositary receipts ("GDRs") (the "Deposit Agreements") no later than five business days after the day on which the relevant provisions of the Law become effective, which will be 10 calendar days after its official publication. As of the effective date of such provisions, no further ordinary shares may be deposited into the GDR programme. In addition, ordinary shares underlying the GDRs will have no voting rights and dividends will not be paid on GDRs.
As of the date of this announcement, the Company is evaluating possible scenarios and seeking necessary advice, including legal. Following the Law becoming effective, the Company will separately notify the market about sending notices to terminate the Deposit Agreements, after such notices are sent.
Further announcements will be made as and when required.
For further information, please contact:
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.