OFAC extends General License No. 13A

OFAC extends General License No. 13A to deadline of 6 June 2018

2 May 2018 - EN+ GROUP PLC (the "Company") (LSE: ENPL, MOEX: ENPL) announces that:

1. On 1 May 2018, the Office of Foreign Assets Control ("OFAC") of the Department of the Treasury of the United States of America ("US Treasury") announced pursuant to its FAQ 584 an extension of the authorization period under a new General License No.13A to 12:01am (EST) on 6 June 2018. This brings General License No.13A in line with the current authorization period for General License No.12.

2. The formal request submitted by the Company to OFAC on 26 April 2018 remains, which requests an extension of the authorization period under General License No.13A (which has now superseded General License No.13) and General License No.12 to 31 October 2018 or such a date that OFAC considers appropriate.

3. London Stock Exchange announced that there will not be a suspension of the Company's GDR trading (Reg S) on the London Stock Exchange (http://www.londonstockexchange.com/traders-and-brokers/rules-regulations/change-and-updates/stock-exchange-notices/2018/n0518.pdf). 

4. Lord Barker of Battle, in his capacity as independent chairman, together with the Company's independent director, continue to focus on implementation of the plan announced on 27 April 2018.

5. The Company continues to work to protect the interests of all group stakeholders, investors and employees worldwide and will make further announcements as soon as possible.

-ENDS-

QUOTE FOR MEDIA

Commenting on today's announcement, Lord Barker of Battle said:

"En+ has experienced an unprecedented and unforeseen chain of events since it was included on the US Sanctions List on 6 April 2018. However, in my capacity as independent chairman, I reached an agreement in principle with Oleg Deripaska on 26 April 2018 that in order for sanctions to be removed he would reduce his shareholding below 50% and relinquish control of the Board. In light of this very welcomed license extension, I am now actively seeking to put the details of that plan into place."

For further information, please contact:

***

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.