Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that an extraordinary general meeting of shareholders (“EGM”) of its subsidiary PhosAgro-Cherepovets is planned for 19 March 2015. The EGM will vote on the merger of PhosAgro subsidiaries Agro-Cherepovets, PhosAgro AG and Nordic Rus Holding into PhosAgro-Cherepovets. PhosAgro currently owns 100% of all of these companies.
The EGM will also vote on an additional issue of ordinary shares by PhosAgro-Cherepovets, which would be used for the conversion of shares of Agro-Cherepovets, PhosAgro AG and Nordic Rus Holding in the process of the merger.
PhosAgro plans to consider further consolidation of its assets into a single legal entity in the future.