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Russia's En+ to covert Glencore's stake in Rusal into En+ GDRs

Wednesday, 18 Oct 2017

Oct 18 (Reuters) - Russia's holding group En+ Group said::En+ Group signed non-binding term sheet with Amokenga Holdings Limited (AHL), a subsidiary of Glencore plc <<>>, for the conversion of Glencore's 8.75 percent shareholding in Rusal <<<0486.HK>>> into global depositary receipts representing ordinary shares of En+ Group. .The conversion is expected to occur following the completion of the announced initial public offering by En+ Group..Upon completion of conversion, En+ Group's shareholding in Rusal would increase to 56.88 percent from 48.13 percent..En+ says ‍following completion of transaction, AHL would be entitled to appoint Glencore CEO to the board of directors of En+ Group.​.En+ is not required to make a mandatory takeover offer as a result of transaction..

Mongolian Mining says qtrly group's mine production rose by 284 pct

Wednesday, 18 Oct 2017

Oct 18 (Reuters) - Mongolian Mining Corp <0975.HK>::Qtrly group's mine production rose by 284 percent versus corresponding period of 2016​.


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