Regulatory News:
United Company RUSAL Plc (Paris:RUSAL) (Paris:RUAL):
Pursuant to Chapter 38 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the Securities and Futures Commission regulates United Company RUSAL Plc in relation to the listing of its shares on The Stock Exchange of Hong Kong Limited. The Securities and Futures Commission takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
UNITED COMPANY RUSAL PLC
(Incorporated under the laws of Jersey with limited liability)
(Stock Code: 486)
UPDATE ON THE REFINANCING
Reference is made to the announcements of the Company dated 24 June 2011, 29 August 2011, 18 January 2012, 30 March 2012 and 30 October 2012 in relation to the USD4.75 Billion PXF, the announcement of the Company dated 31 January 2013 in relation to the USD400 Million PXF, the announcement of the Company dated 21 March 2014 in relation to the Amendment Agreement, the announcement of the Company dated 9 April 2014 in relation to the Forbearance Request Letter, and the announcement of the Company dated 27 June 2014 in relation to the New Forbearance Period and the Scheme of Arrangement.
As anticipated by the Company, the Lock-Up Agreement has now taken effect, and the forbearance undertakings of the relevant Lenders have been extended for the New Forbearance Period.
DEFINITIONS
In this announcement, the following expressions have the following meanings, unless the context otherwise requires:
"Amendment Agreement" | the agreement pursuant to which the USD4.75 Billion PXF and the USD400 Million PXF are combined into a single facility agreement. | |||
"Company" | United Company RUSAL Plc, a limited liability company incorporated in Jersey, the shares of which are listed on the main board of The Stock Exchange of Hong Kong Limited. | |||
"Director(s)" | the director(s) of the Company. | |||
"Forbearance Request Letter" | the Forbearance Request Letter as announced and defined in the Company's announcement dated 9 April 2014. | |||
"Lock-Up Agreement" | the Lock-Up Agreement as announced and defined in the Company's announcement dated 27 June 2014. | |||
"New Forbearance Period" | the period of time starting on the effective date of the Lock-Up Agreement and ending on the earlier of (a) 31 October 2014 or such later date as might be agreed, provided such date is not later than 30 November 2014; (b) the date on which the amendments sought under the Amendment Agreement become effective; and (c) the occurrence of certain termination events described under the Lock-Up Agreement. | |||
"Scheme of Arrangement" | the Scheme of Arrangement as announced and defined in the Company's announcement dated 27 June 2014. | |||
"USD" | United State dollars, the lawful currency of the United States of America | |||
"USD4.75 Billion PXF" | the up to USD4,750,000,000 aluminium pre-export finance facility agreement dated 29 September 2011 between, amongst others, BNP Paribas (Suisse) SA (as facility agent and security agent) and the Company (as borrower) as amended on each of 26 January 2012 and 9 November 2012. | |||
"USD400 Million PXF" | the up to USD400,000,000 multicurrency aluminium pre-export finance facility agreement dated 30 January 2013 between, amongst others, ING BANK N.V. (as facility agent and security agent) and the Company (as borrower). | |||
By Order of the Board of Directors of United Company RUSAL Plc Aby Wong Po Ying Company Secretary |
2 July 2014
As at the date of this announcement, the executive Directors are Mr. Oleg Deripaska, Ms. Vera Kurochkina, Mr. Maxim Sokov, Mr. Vladislav Soloviev and Mr. Stalbek Mishakov, the non-executive Directors are Mr. Dmitry Afanasiev, Mr. Len Blavatnik, Mr. Ivan Glasenberg, Mr. Maksim Goldman, Ms. Gulzhan Moldazhanova, Mr. Daniel Lesin Wolfe, Ms. Olga Mashkovskaya and Ms. Ekaterina Nikitina, and the independent non-executive Directors are Mr. Matthias Warnig (Chairman), Dr. Peter Nigel Kenny, Mr. Philip Lader, Ms. Elsie Leung Oi-sie and Mr. Mark Garber.
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 and http://www.rusal.ru/en/press-center/press-releases.aspx, respectively.
Contacts:
United Company RUSAL Plc