Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that Federal Law No. 114-FZ on Amendments to the Federal Law on Joint-Stock Companies and Certain Legislative Acts of the Russian Federation, dated 16 April 2022, was enacted on 27 April 2022. Among other things, the Law prohibits the placement of and trading in depositary receipts (“DRs”) representing shares in Russian issuers, including PhosAgro, unless the Government Commission for Oversight of Foreign Investments in the Russian Federation provides express permission to do so.
PhosAgro hereby announces that it filed an application for permission on 28 April 2022. The Government Commission will make a decision with respect to the application by 16 May 2022 (inclusive). If its application is denied, PhosAgro will be required, pursuant to the Law, to take necessary and sufficient measures to terminate the deposit agreements relating to its DR programme within five business days after the date of said denial.