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PhosAgro Launches Apatit Minority Squeeze Out

18 April 2013

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that on 17 April 2013 it sent a compulsory share purchase notification (squeeze out) to OJSC Apatit for the buyout of shares belonging to OJSC Apatit minority shareholders.

The shares will be purchased at the price of RUB 6,880 per ordinary share and RUB 5,504 per type A preferred share.

PhosAgro and affiliated parties currently own 95.95% of the shares of Apatit, meaning the estimated cost of the compulsory share buyout is approximately RUB 1.99 billion.

The Company plans to complete all procedures related to the squeeze out and the consolidation of shares in OJSC Apatit in the next 2-3 months.