Popular Queries

PhosAgro Board of Directors Decisions

27 October 2011

Moscow – PhosAgro (“PhosAgro” or “the Company”) (MICEX, RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertiliser producer, announces that today its Board of Directors has called an extraordinary general meeting of shareholders (“EGM”) on 1 December 2011 to vote on payment of dividends for the first nine months of 2011, as well as a share split and related changes to the Company’s charter.  The meeting will be conducted by absentee vote and the cut-off date for shareholders eligible to participate in the EGM, and receive dividends for this period is 26 October 2011.

The Board approved a recommendation that PhosAgro pay out RUB 3,111,927 thousand from its 9M 2011 net profit, which amounts to RUB 250 per ordinary share.

Shareholders are likewise being asked to approve a share split, and necessary related changes to the Company charter, that would increase the number of PhosAgro shares and convert 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.  The share split coefficient is 10:1 new to old shares.

Completion of the share split will leave PhosAgro’s registered capital unchanged at RUB 311,192,700, consisting of 124,477,080 ordinary shares with a nominal value of RUB 2.5.

For further information please contact:

OJSC "PhosAgro"
+7 495 231 2747
Irina Evstigneeva, Head of Corporate Finance and Investor Relations
Timur Belov, Press Officer


Stuart Leasor
+ 44 20 7920 2317

Sam VanDerlip
+7 495 663 8005

Notes to Editors

PhosAgro is a leading global vertically integrated phosphate-based fertiliser producer.  The Group focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock, as well as ammonia and nitrogen-based fertilisers.  In 2010, the Group was the largest phosphate-based fertiliser producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China) according to Fertecon. PhosAgro controls approximately 2.1 billion tonnes of high quality apatite-nepheline ore resources, which translates to over 75 years of production. The Group's strategic aim is to reinforce its position as a leading integrated global producer of fertilisers and to enhance overall value for its shareholders through increasing fertiliser and feed phosphate production capacities, utilising the full potential of its apatite-nepheline ore reserves base and continuing to improve operational flexibility and efficiency. PhosAgro is listed on the MICEX stock exchange (MICEX: PHOR) with its global depositary receipts listed on the London Stock Exchange (PHOR LI). The Group had revenues of approximately $2.5 billion in 2010 with EBIDTA of approximately $674 million. PhosAgro employs approximately 25,000 people.
For further information on PhosAgro please visit the company's website: www.PhosAgro.ru