EN+ GROUP INTERNATIONAL 
Following this morning's notifications to the London Stock Exchange, the EN+ Group would like to remind and clarify that the entire En+ Group remains free of sanctions and is not subject to sanctions in any jurisdiction. The departure of Lord Barker will not change this.
As a result of the sweeping governance reforms agreed under the land mark agreement with the United States Treasury Office of Foreign Asset Control ( OFAC) in 2019, the Group has a strong ongoing relationship with OFAC for regulatory auditing purposes.
Eight of the twelve EN+ Board directors are independent and the former majority shareholder has had his total stake reduced to 44.9% and his voting rights are down to 35%.
In describing these new governance arrangements, OFAC said at the time 'The companies have also agreed to unprecedented transparency for Treasury into their operations by undertaking extensive, ongoing auditing, certification, and reporting requirements.'
The Group remains in full compliance with all OFAC conditions and the Group's number one concern and priority at this stage is the welfare and safety of its worldwide workforce, especially the 4,000 employees in the Ukraine.
As a result of the sweeping governance reforms agreed under the land mark agreement with the United States Treasury Office of Foreign Asset Control ( OFAC) in 2019, the Group has a strong ongoing relationship with OFAC for regulatory auditing purposes.
Eight of the twelve EN+ Board directors are independent and the former majority shareholder has had his total stake reduced to 44.9% and his voting rights are down to 35%.
In describing these new governance arrangements, OFAC said at the time 'The companies have also agreed to unprecedented transparency for Treasury into their operations by undertaking extensive, ongoing auditing, certification, and reporting requirements.'
The Group remains in full compliance with all OFAC conditions and the Group's number one concern and priority at this stage is the welfare and safety of its worldwide workforce, especially the 4,000 employees in the Ukraine.
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EN+ Group International PJSC published this content on 07 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 March 2022 17:49:07 UTC.
