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Phosagro plans to issue stock for preffered-share conversion

12 August 2011
Bloomberg

OAO PhosAgro said it will issue stock for use in the so-called A2 preferred-share conversion.

 The company plans to convert all its 35,999 A2 preferred shares with a face value of 25 rubles into the same number of additional ordinary shares with the same value, PhosAgro said today in an e-mailed statement.

 The transaction will take place on the seventh working day after the public registration of the share issue, at which time the preferred shares will be canceled, it said.