EN+ Sanctions a 'Huge Surprise,' Chairman Barker Says

The transcript discusses the unexpected sanctions on a company linked to Oleg Deripaska, which led to a significant restructuring effort. Initially, the sanctions were a shock, but with advice and strategic planning, a rescue plan was developed to remove Deripaska's control. This involved engaging with the US government and other stakeholders. The plan successfully reduced Deripaska's influence, transforming the board with independent directors, marking a significant event for a London-listed Russian company.

What was the initial reaction to the sanctions imposed on the company?

• The company was well-prepared for the sanctions.

• The company immediately had a plan in place.

• There was a general belief that nothing could be done.

• The sanctions were anticipated by everyone.

What advice was given to the narrator regarding his role in the company?

• To immediately resign from the board.

• To ignore the sanctions and continue as usual.

• To ensure all possible actions are taken to help minority shareholders.

• To sell his shares in the company.

What was the key strategy to rescue the company from the impact of sanctions?

• Increasing the company's market share.

• Removing Oleg Deripaska's control over the company.

• Merging with another company.

• Cutting down the workforce.

What was the outcome of the plan to reduce Deripaska's control?

• The sanctions were lifted immediately.

• Deripaska's control was reduced to a minority stake.

• The company was dissolved.

• Deripaska retained full control of the company.

What is significant about the new board composition after the plan's implementation?

• It consists entirely of family members.

• It includes world-class independent directors.

• It is controlled by Deripaska.

• It has no independent directors.