Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that an EGM on 16 September 2014 elected a new Board of Directors.
When re-electing the Board of Directors, the EGM has voted in Jim Rogers, the co-founder of Quantum Fund and owner of Rogers Holdings, as an independent non-executive director (“INED”) of PhosAgro.
Quantum Fund co-founder, Rogers Holdings investments owner and PhosAgro Board of Directors member Jim Rogers said: “PhosAgro is an excellent company that offers investors excellent value due to the high-quality fertilizers it produces, its vertical integration and low production costs. I have watched the company successfully develop as a global player over the last few years, with flexible sales and production models that have helped it reach new markets, while investments in its Russian production assets have enabled PhosAgro to expand and improve its product portfolio.
“While Russian stocks have been under pressure through most of 2014, I think that PhosAgro’s share performance, which is among the best for Russian companies in 2014, shows that investors understand the Company has world-class assets and holds significant potential for sustainable growth.
“I am excited to be joining PhosAgro’s Board today, and look forward to working with the rest of the Directors and management to build value for shareholders.”
PhosAgro CEO Andrey Guryev said: “I am thrilled that Jim Rogers joined the Board, and PhosAgro is the first Russian company with which Mr. Rogers has agreed to work in this capacity. Jim’s reputation precedes him as an investor, and his knowledge of the global commodities markets, including fertilizers, is exceptional.”
Following the EGM, PhosAgro’s New Board of Directors will now include the following members:
· Igor Antoshin – Member of the PhosAgro Board of Directors, Advisor to the CEO of PhosAgro
· Andrey A. Guryev – Member of the PhosAgro Board of Directors, CEO of PhosAgro
· Andrey G. Guryev – Member of the PhosAgro Board of Directors, Vice President of the Russian Union of Chemists
· Sven Ombudstvedt – Member of the PhosAgro Board of Directors, CEO of Norske Skog
· Roman Osipov – Member of the PhosAgro Board of Directors, Director for Business Development of PhosAgro
· Marcus Rhodes – Member of the PhosAgro Board of Directors
· Ivan Rodionov – Member of the PhosAgro Board of Directors
· Jim Rogers – Member of the PhosAgro Board of Directors, owner of Rogers Holdings investment company
Short biographical information
Jim Rogers, a native of Demopolis, Alabama, is an author, financial commentator, adventurer, and successful international investor. After attending Yale and Oxford University, Rogers co-founded the Quantum Fund, a global-investment partnership. During the next 10 years, the portfolio gained 4200%, while the S&P rose less than 50%. Rogers then decided to retire – at age 37. Continuing to manage his own portfolio, Rogers kept busy serving as a full professor of finance at the Columbia University Graduate School of Business, and, in 1989 and 1990, as the moderator of WCBS’s ‘The Dreyfus Roundtable’ and FNN’s ‘The Profit Motive with Jim Rogers’. In 1998, Rogers founded the Rogers International Commodity Index, which was designed to meet the need for consistent investing in commodities through a broad-based international vehicle. The index tracks 38 commodity futures contracts from 13 international exchanges.
In addition to serving on the PhosAgro Board of Directors, Jim Rogers also holds the following positions: