Global Leader in Hydro Power and Aluminium
Simplified Ownership Structure Via Acquisition of VTB's Stake in En+
Simplified ownership structure through USD 1.58 bn
acquisition of VTB Group's 21.37% stake in En+ Group
USD 11.57 price per share represents a significant discount
to En+ Group's fundamental valuation
Removal of VTB Group overhang, with no disruption to
arrangements under the Barker Plan
Acquisition financed by a RUB 100.8 bn loan from Sberbank.
> Balance sheet remains robust, underpinned by strong cash
generation
Provides future optionality to simplify further the Group's.
ownership structure. All, or part of the shares acquired may
be used
•
in connection with strategic activity; and/or
to undertake a secondary offering to increase free float,
broaden institutional ownership and improve liquidity,
subject to market conditions
New Shareholders and Voting structure
(As of 31 March 2020)
Free float 9.73%
Former family members 6.75%
Other shareholders 3.42%
Volnoe delo 3.22%
Glencore
10.55%
Free float 9.73%
Independent trustee¹
6.75%
Independent trustee¹
6.64%
Glencore
10.55%
En+ Group²
21.37%
Mr. Deripaska³
44.95%
Independent trustee¹
14.33%
En+ Group's
Executive Chairman
of the Board2 7.04%
Independent trustee¹
9.95%
Mr. Deripaska³
35.00%
SHAREHOLDING
VOTING RIGHTS
Ent
GROUP
Note: percentages may not add up to 100% due to rounding.
(1)
(2)
Independent trustees, who exercise voting rights attaching to certain shares of the Company (37,68% in total), as required by OFAC: D.J Baker, David Crane, Arthur Dodge, Ogier Global Nominee (Jersey) Limited.
Shares acquired from VTB by En+ Group's subsidiary as per Company's announcements on 6 and 12 February 2020. Voting rights in respect of 14.33% of shares are held by an independent trustee, while the remaining voting rights in respect of 7.04% of shares are
exercised by Executive Chairman of the Board, Lord Barker, at the Board's direction.
(3) Directly or indirectly. Under the agreement between the Company and OFAC, the major shareholder's share can not exceed 44,95% and the voting rights can not exceed 35%.
En+ Group overview
Investment highlights
Sustainable business
development
Results snapshot
Power segment
Metals segmentView entire presentation