9 April 2018
New Ukraine/Russia related sanctions designations
1. On 6 April 2018 the US Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued new designations against Russian individuals and entities. Further information in relation to these sanctions can be found at this link. Under the provisions of General License no. 13 (see link), US persons have until 12:01am 7 May 2018 (EST) to divest or transfer their holdings in the relevant securities to non-US persons.
2. Member firms are reminded that they must conduct their own due diligence and take appropriate measures to ensure that they comply with any applicable current or future sanctions and that they are not using London Stock Exchange's ("the Exchange") systems to perform transactions that would facilitate direct or indirect transactions by US persons in breach of these sanctions.
3. En+ Group plc ("EN+") and United Company Rusal plc ("Rusal") were designated as entities subject to the sanctions. Depositary Receipts of EN+ are admitted to the UK Listing Authority's Official List and admitted to trading on the Exchange's International Order Book trading service. Global Depositary Shares of Rusal have a primary listing in the European Union ("EU") on Euronext Paris and are offered for trading on the Exchange's MTF (SETSqx trading service). If all trading is suspended by the EU National Competent Authority for listing these securities will be immediately suspended from trading on the Exchange.
4. EN+ has two lines admitted to trading on the Exchange, a 144a line (US29355E1091) available for trading only for eligible Qualified Institutional Buyers in the US, and a Reg S line (US29355E2081). For as long as the OFAC sanctions remain in force, trading in the 144a line of En+ (US29355E1091) will be suspended on the Exchange.
5. Details of the depositaries with affected programmes, including any closed notices for those programmes, can be found at:
BNY Mellon - http://www.adrbnymellon.com
6. The Exchange will continue to monitor the situation and is in communication with the UK authorities.
7. This Notice does not constitute legal advice.
8. Queries on this Notice should be addressed to the Rules and Compliance Team, telephone +44 (0)207 7797 2190.
This Stock Exchange Notice will be available on the website at: www.londonstockexchange.com/en-gb/products/membershiptrading/rulesreg/stockexnoticesnew/
This information is provided by RNS