EN+ Group Evaluating Scenarios After New Russian Law on GDRs - MarketWatch

EN+ Group International PJSC said Tuesday that it is assessing scenarios after Russia signed a law requiring it to terminate deposit agreements related to its global depositary receipts.

The Russian aluminum and hydropower company, which has a controlling stake in aluminum giant Rusal, said it will notify the market about sending notices to terminate the deposit agreements after the law becomes effective.

The law was published on April 16 and will become effective 10 calendar days after its official publication.

Ordinary shares underlying the global depositary receipts won't have voting rights and won't receive dividends, EN+ warned.

Write to Jaime Llinares Taboada at [email protected]; @JaimeLlinaresT

source: https://www.marketwatch.com/story/en-group-evaluating-scenarios-after-new-russian-law-on-gdrs-271650352887

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