30th May 2012 16:50
For Immediate Release 30 May 2012 PhosAgro Announces AGM Results
Moscow - PhosAgro ("PhosAgro" or "the Company") , a leading global vertically integrated phosphate-based fertiliser producer, announces that today it held its AGM at which shareholders elected the Board of Directors and approved all items on the agenda, including a final 2011 dividend payment of RUB 32.5 per share (RUB 10.83 per GDR).
PhosAgro's total 2011 post-IPO dividend payout will now amount to RUB 7,157,432,100, which represents 49% percent of the company's net profit for the last nine months of 2011 (based on management accounts).
Shareholders also elected the following members to the Board of Directors at today's AGM:
1. Igor Antoshin, general director of PhosAgro Engineering Centre
2. Maxim Volkov, CEO of PhosAgro
3. Vladimir Litvinenko, rector of the Plekhanov St. Petersburg Mining
Institute
4. Vasiliy Loginov, deputy CEO of PhosAgro
5. Sven Ombudstvedt, independent director, CEO of Norske Skog
6. Roman Osipov, deputy CEO for business development of PhosAgro AG
7. Ivan Rodionov, independent director
8. Marcus Rhodes, independent director
In addition, shareholders voted to appoint the Company's RAS auditor, approved PhosAgro's annual report and financial accounts, the total sum and principles for the remuneration of the Board of Directors, and several related-party transactions.
For further information please contact:
OJSC PhosAgro+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press OfficerM:CommunicationsSam [email protected]+7 495 363 2845Notes 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 (P2O5 content of not less than 35.7 percent), as well as ammonia and nitrogen-based fertilisers. The Group is 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 is also a leading producer of MCP feed phosphates in Europe, and the only producer in Russia.
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore, representing over 75 years of production. The Group also controls substantial Al2O3 resources, and has 41% of Russia's rare earth oxides resources.
The Group's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertiliser and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia. The Group is the only global vertically integrated fertilizer producer that derives approximately 90% of its consolidated gross profit from the phosphates segment. PhosAgro's 2011 IFRS revenue was USD 3.4 bln and EBITDA was USD 1.2 bln. The С ompany's net debt/EBITDA ratio was 0.43 at 31 December 2011.
For further information on PhosAgro please visit: www.PhosAgro.com
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