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)
RESIGNATION OF DIRECTOR
Reference is made to the announcements of the Company dated 9 and 10 April 2018 (the “Announcements” ). Unless the context requires otherwise, the terms used herein shall have the same meanings as defined in the Announcements. The Company announces that due to the inclusion of the Company into the SDN List of the OFAC, each of Mr. Maksim Goldman and Mr. Daniel Lesin Wolfe, non-executive directors of the Company, has tendered his resignation as a director of the Company with effect from 10 April 2018. Mr. Maksim Goldman and Mr. Daniel Lesin Wolfe have confirmed respectively that they do not have any disagreement with the board of directors of the Company (the “Board”) and that there is no other matter relating to their respective resignation which needs to be brought to the attention of the shareholders of the Company.
According to Rule 3.10A the Listing Rules, the Company is required to appoint independent non-executive directors representing at least one-third of the members of the Board.
Following the resignations of Mr. Maksim Goldman and Mr. Daniel Lesin Wolfe, the composition of the Board comprises two (2) executive directors, seven (7) non-executive directors and five (5) independent non-executive directors. The number of independent non-executive directors on the Board represents more than one-third of the members of the Board and complies with the requirement under Rule 3.10A of the Listing Rules.
The Board would like to express its gratitude to Mr. Maksim Goldman and Mr. Daniel Lesin Wolfe for their contribution during their terms of office with the Company.
By Order of the Board of Directors of
United Company RUSAL Plc
Aby Wong Po Ying
11 April 2018
As at the date of this announcement, the executive Directors are Mr. Vladislav Soloviev and Mr. Siegfried Wolf, the non-executive Directors are Mr. Oleg Deripaska, Mr. Maxim Sokov, Mr. Dmitry Afanasiev, Ms. Gulzhan Moldazhanova, Ms. Olga Mashkovskaya, Ms. Ekaterina Nikitina and Mr. Marco Musetti, and the independent non-executive Directors are Mr. Matthias Warnig (Chairman), 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/hkse/, http://rusal.ru/investors/info/moex/ and http://www.rusal.ru/en/press-center/press-releases.aspx, respectively.