HONG KONG--(BUSINESS WIRE)--Regulatory News:
United Company RUSAL Plc (Paris:RUSAL) (Paris:RUAL):
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UNITED COMPANY RUSAL PLC
(Incorporated under the laws of Jersey with limited liability)
(Stock Code: 486)
SIGNING OF EXTENSIONS TO
THE DIAN-DIAN CONCESSION AGREEMENT AND
THE KINDIA BAUXITE AGREEMENT
WITH THE REPUBLIC OF GUINEA
Reference is made to the announcement of United Company RUSAL Plc (the “Company”) dated 27 June 2016 in relation to the Dian-Dian project.
The Company and the Republic of Guinea signed agreements to extend the Dian-Dian Concession Agreement in relation to the Dian-Dian bauxite project in the Republic of Guinea (the “Dian-Dian Agreement”) and to extend the Kindia Bauxite Agreement in relation to the Kindia bauxite mine in the Republic of Guinea (the “Kindia Agreement”).
The Dian-Dian Agreement provides for the new term of 25 years following the expiration of the initial term. The Dian-Dian Agreement also provides that at the start of the new term of the Agreement, the Republic of Guinea shall become entitled to 10% free of charge, non-dillutable, non-transferrable free carry interest in Compagnie de Bauxite et d’alumine de Dian-Dian.
The Kindia Agreement provides for the new term of 25 years following the expiration of the initial term. The Kindia Agreement also provides that at the start of the new term of the Kindia Agreement, the Republic of Guinea shall become entitled to 5% free of charge, non-dillutable, non-transferrable free carry interest in Compagnie des Bauxites de Kindia, which share shall increase up to 7.5% in 10 years and then up to 10% in another 5 years.
Both the Dian-Dian Agreement and the Kindia Agreement are still subject to approval of the Board of Directors of the Company and promulgation in accordance with the laws of the Republic of Guinea.
|By Order of the Board of Directors of|
United Company RUSAL Plc
Aby Wong Po Ying
18 September 2017
As at the date of this announcement, the executive Directors are Mr. Oleg Deripaska, Mr. Vladislav Soloviev and Mr. Siegfried Wolf, the non-executive Directors are Mr. Maxim Sokov, Mr. Dmitry Afanasiev, Mr. Ivan Glasenberg, Mr. Maksim Goldman, Ms. Gulzhan Moldazhanova, Mr. Daniel Lesin Wolfe, Ms. Olga Mashkovskaya, Ms. Ekaterina Nikitina and Mr. Marco Musetti, and the independent non-executive Directors are Mr. Matthias Warnig (Chairman), Mr. Philip Lader, Dr. Elsie Leung Oi-sie, Mr. Mark Garber, Mr. Dmitry Vasiliev and Mr. Bernard Zonneveld.
All announcements and press releases published by the Company are available on its website under the links http://www.rusal.ru/en/investors/info.aspx, http://rusal.ru/investors/info/moex/ and http://www.rusal.ru/en/press-center/press-releases.aspx, respectively.