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PhosAgro Announces Registration of Report on Results of Share Issue to Conduct Share Split

14 March 2012
Moscow, 14 March 2012 - PhosAgro ("PhosAgro" or "the Company") (MICEX-RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that on 13 March 2012 the Russian Federation Federal Financial Markets Service (“FFMS”) officially registered the report on the results of the share issue to conduct the share split.  The share issue was approved by shareholders at the extraordinary general meeting of shareholders (“EGM”) on 1 December 2011.

The Company intends to announce further the start date for trading in PhosAgro shares, after trading was suspended on 16 February 2012 in connection with the government registration of the issue of shares to conduct the share split.  

The share issue to conduct the share split took place on 24 February 2012 and increased the number of PhosAgro shares by 10 times from 12,447,708 ordinary shares with a nominal value of RUB 25 per share to 124,477,080 ordinary shares with a nominal value of RUB 2.5 per share.  Following the split, each PhosAgro share now represents 3 GDRs instead of 30 GDRs.

PhosAgro CEO Maxim Volkov said: “We are very pleased to have completed the share split.  This should increase the liquidity of our shares traded on MICEX-RTS, which we believe will make them more attractive to a wider range of investors.”