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PhosAgro CEO Attends Opening of World Chess Championship

11 November 2016
New York, NY – The top management of PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, attended the opening ceremony of the World Chess Championship, which will start today in New York City, late in the evening Moscow time.  The reigning World Champion Magnus Carlsen will take on the Russian Grandmaster Sergey Karjakin in the battle for the World Champion title.

PhosAgro is the global sponsor of the World Chess Championship, and the Grandmasters will be welcomed on behalf of the company by the Deputy Chairman of the Board of Directors Andrey G. Guryev, CEO Andrey A. Guryev, and CFO Alexander Sharabaiko.

PhosAgro CEO and Member of the Supervisory Board of the Russian Chess Federation Andrey A. Guryev said: “Our company is a long-time supporter of the game of chess, and we are extremely pleased to have the opportunity to be the global partner for what will undoubtedly be the most interesting World Championship Match in the history of chess, between two of the most brilliant young minds on the planet.

“Our Company shares a similar philosophy to that of chess players, based on strategic thinking and calculating moves in order to stay ahead of competitors – and this approach has helped us to deliver excellent operating and financial results.

“I am especially pleased to note that Russia is and has been home to many of the world’s greatest players, including Sergey Karjakin. At the same time, as an international company whose business spans 100 countries and as a global partner, we are first and foremost looking forward to a great game.

“I am confident that this Championship Match will contribute to further development of the sport of chess, bringing new theory and new attention to the game, and that it will also enable PhosAgro to expand its pool of investors, partners and clients.”

The intellectual competition will be followed by hundreds of millions of people worldwide, including using virtual reality technology. This makes the World Chess Championship the ideal marketing platform to increase PhosAgro’s brand recognition globally.  

PhosAgro Board of Directors Deputy Chairman Andrey G. Guryev said: “Sponsorship of the World Chess Championship is part of PhosAgro’s longstanding corporate responsibility programme, which supports education, science, medicine, sports and healthy lifestyles.  The Company has a long history of cooperating with chess federations, including as a sponsor of the Russian Chess Federation and the 2014 World Chess Championship match in Sochi.  In the regions where PhosAgro operates we seek to interest children in chess, as an intellectual sport, from school age by supporting special chess classes.”

In addition to chess, PhosAgro contributes in other ways to Russia’s international sporting achievements.  It has for many years been a partner of the Educated and Healthy Children of Russia organisation, the Russian Olypmians Support Fund, the All-Russian Federation of Rythmic Gymnastics, the Moscow Federation of Rythmic Gymnastics, and the St. Petersburg Regional Judo Federation; the Company is also a sponsor of the Severyanka (Vologda region) and Proton-BAES (Saratov region) volleyball clubs, the Avtodor basketball club, and the Balakovo speedway team Turbina (Saratov region).  

PhosAgro leadership will also attend the first move ceremonies on 11 and 12 November.  On 12 November, Andrey A. Guryev will make the first move.  The World Chess Championship will consist of 12 games, and if neither of the opponents reaches a score of 6.5 earlier, the final game is planned for 28 November.