Moscow – PhosAgro ("PhosAgro" or "the Company") (MICEX-RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertiliser producer, announces that the North-western Regional Division of the Russian Federation Federal Financial Markets Service (FFMS) has completed registration of an issue of ordinary shares by the Company’s subsidiary PhosAgro-Cherepovets, and also announces the results of that issue.
The share issue is the initial issue by PhosAgro-Cherepovets, which was created by the merger of Ammophos and Cherepovetsky Azot on 1 July 2012. The issue was set at up to 1.25 billion ordinary shares with a nominal value of RUB 1.10 each; in total, 1,248,678,417 ordinary shares with a nominal value of RUB 1.10 each were issued. The shares of the merged companies were converted at the ratio of one share of PhosAgro-Cherepovets for 0.01 ordinary shares of Ammophos, 0.0262 ordinary shares of Cherepovetsky Azot and 0.027 preferred shares of Cherepovetsky Azot.
Following the registration of the share issue by the North-western Regional Division of the Russian Federation FFMS and the requisite changes to the Charter of PhosAgro-Cherepovets, the authorised share capital of PhosAgro-Cherepovets stands at RUB 1,373,546,259. PhosAgro and its associated company Phosint Limited own 87.6% of the shares of PhosAgro-Cherepovets.
Shareholders of Cherepovetsky Azot and Ammophos approved the re-organisation of the companies by way of merger at an EGM on 27 February 2012.