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UK authority considering ENRC board application -FT
September 27, 2011 / 12:42 AM / in 6 years

UK authority considering ENRC board application -FT

LONDON, Sept 26 (Reuters) - The UK Listing Authority (UKLA) is considering an application by Alexander Mashkevich, the billionaire co-founder of Eurasian Natural Resources Corp, to join the ENRC board ENRC.L, the Financial Times reported on Tuesday.

The newspaper cited people close to the company as saying a board seat for Mashkevich could precede his drive for the chairmanship of the Kazakh mining company.

Mashkevich’s application has been passed to the office of Hector Sants, chief executive of the Financial Services Authority which includes the UKLA, the article said, citing one person close to the company.

The FSA has little scope to officially approve or reject applicants but can invoke a “significant influence function” to consider the fitness of top directors. It also has authority to look at the board composition of all listed companies.

Mashkevich’s application to the UKLA was submitted in August, following a boardroom purge involving four ENRC directors.

The boardroom spat led to a comprehensive review of the miner’s corporate governance, which is due to be completed this month. [ID:nL5E7JN1V8]

ENRC was unavailable for immediate comment. (Reporting by Stephen Mangan; Editing by Richard Chang)

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