17th Oct 2011 16:09
For Immediate Release 17 October 2011
Information on Ammophos Board of Directors Decisions
Moscow - PhosAgro ("PhosAgro" or "the Company") , a leading global vertically integrated phosphate-based fertiliser producer, announces that the Board of Directors of the PhosAgro Subsidiary OJSC Ammophos ("Ammophos") on 7 October 2011 voted to recommend that Ammophos shareholders approve a transaction between Ammophos and Sberbank.
Due to the fact that this deal is treated as a "large transaction" by the Russian Federation law "On Joint Stock Companies", the Board also approved the price of RUB 4,800 per ordinary share for a mandatory buyout offer to those Ammophos shareholders not voting or voting against this transaction.
The meeting minutes were approved on 10 October 2011.
For further information please contact:
OJSC "PhosAgro"+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press OfficerM:CommunicationsUKStuart Leasor+ 44 20 7920 2317RussiaSam VanDerlip+7 495 663 8005Notes to Editors
PhosAgro is a leading global vertically integrated phosphate-based fertiliser producer. The Group focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock, as well as ammonia and nitrogen-based fertilisers. In 2010, the Group was the largest phosphate-based fertiliser producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China) according to Fertecon. PhosAgro controls approximately 2.1 billion tonnes of high quality apatite-nepheline ore resources, which translates to over 75 years of production. The Group's strategic aim is to reinforce its position as a leading integrated global producer of fertilisers and to enhance overall value for its shareholders through increasing fertiliser and feed phosphate production capacities, utilising the full potential of its apatite-nepheline ore reserves base and continuing to improve operational flexibility and efficiency. PhosAgro is listed on the MICEX stock exchange (MICEX: PHOR) with its global depositary receipts listed on the London Stock Exchange (PHOR LI). The Group had revenues of approximately $2.5 billion in 2010 with EBIDTA of approximately $674 million. PhosAgro employs approximately 25,000 people.
For further information on PhosAgro please visit the company's website: www.PhosAgro.ru
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