27th Nov 2012 07:00
For Immediate Release 27 November 2012
PhosAgro Board Approves EGM Agenda
Moscow - PhosAgro (or "the Company") , a leading global vertically integrated phosphate-based fertilizer producer, announces that today its Board of Directors approved the agenda for an extraordinary general meeting of shareholders (EGM) to be held on 29 December 2012. The agenda includes the following items:
1. On payment (declaration) of dividends on PhosAgro shares for the first 9
months of 2012;
2. On approval of a new version of the Company's Charter;
3. On approval of the Company's Regulation on the Management Board;
4. On approval of an interested party transaction.
The PhosAgro Board of Directors also approved a major transaction (support agreement) and determined that the price and other conditions of the agreement are in line with market practice.
On 19 November 2012 the Board of Directors called the EGM, which will be held by absentee vote, on 29 December 2012. The shareholder register cut-off date for shareholders eligible to participate in the EGM and receive dividends was 23 November 2012. The Board also recommended at its 19 November 2012 meeting that shareholders approve an interim dividend payment for the first 9 months of 2012 amounting to RUB 3,111,927,000, or RUB 25 per share (RUB 8.33 per GDR).
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]+44 (0) 20 7920 2356Notes 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 (with P2O5 content of not less than 39 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 second 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 according to the G.P. Luzin Institute of Economic Problems of the Kolskiy Scientific Centre of the Russian Academy of Sciences, 2010).
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. PhosAgro's 2011 IFRS revenue was over 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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