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Statement Regarding Claims by Former Employee

12 June 2015
Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, provides the following comment regarding public statements made today by a PR agency on behalf of a former employee:

On 21 May 2015, PhosAgro issued a statement explaining that a former employee, Alexander Gorbachev, had raised a claim against the company and some of its shareholders purporting that he had been unlawfully deprived of alleged shares and the right to ownership of shares in PhosAgro.  The Company declared at the time, and maintains today, that the claim has no legal basis and PhosAgro will defend its position in any jurisdiction.  

Accurate information about the shareholder structure of PhosAgro is available on the Company’s website and in other official documents, including in its IPO and SPO prospectuses.  

The Company notes that in his press release today, Mr. Gorbachev and his PR agency misrepresent the nature of the proceedings in Cyprus.  They falsely imply that the criminal proceedings have been commenced by the Cypriot prosecuting authorities.  In fact, they are private proceedings, brought to the court by Gorbachev alone, and Cypriot prosecuting authorities are not pursuing any criminal cases in relation to these accusations.  As such they do not represent the position or conclusions of any law enforcement authorities in any country.