PhosAgro EGM Results

PJSC PHOSAGRO - PhosAgro EGM Results

PR Newswire

London, July 5

PhosAgro EGM Results

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that an extraordinary general meeting of shareholders (“EGM”) has approved a resolution to increase the number of people on the Company’s Board of Directors from 8 to 10. 

The EGM also approved a dividend payment of RUB 2,719.5 million, or RUB 21 per ordinary share (RUB 7 per global depositary receipt), from the undistributed net profit as of 31 December 2016. The record date for shareholders eligible to receive dividends was set as 17 July 2017.

PhosAgro Board of Directors member and CEO Andrey Guryev said: “The Company always strives to adhere to best corporate practices, both in terms of shareholder returns and governance. This is why, following the SPO earlier this year, we have decided to increase the number of members of the Board of Directors.”

Notes to Editors

PhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%).

The Company is the largest phosphate-based fertilizer 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 one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia. It is Russia’s only producer of nepheline concentrate.

PhosAgro’s main products include phosphate rock, 33 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world’s inhabited continents. The Company’s priority markets outside of Russia and the CIS are Latin America, Europe and Asia.

PhosAgro’s shares are traded on the Moscow Exchange, and global depositary receipts (“GDRs”) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company’s GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.