Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that Citigroup Global Markets Deutschland AG has suspended the conversion function of the Company’s global depositary receipt ("GDR") facility.
This action is related to the arrest of 170,500 PhosAgro shares (representing 0.13% of PhosAgro’s share capital) that were stolen in the fall of 2014 from Maxim Volkov.
Trading functionality of PhosAgro GDRs and ordinary shares is not affected. PhosAgro is working to remove all limitations on the conversion of shares and GDRs. At the same time, the Company does not expect any interruption to regular trading operations in its shares and GDRs.