AKRN.L Regulatory News (AKRN)

12 Aug 2008 08:37



JSC Acron announces Admission to the Official List and 

Commencement of Unconditional Dealings 

on the Main Market of the London Stock Exchange

London, 12 August 2008. JSC Acron ("Acron"), a leading Russian and global mineral fertiliser producer, announces today that its Global Depositary Receipts (GDRs) have been successfully admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market. Unconditional dealings in Acron's GDRs commenced at 8am today under the ticker AKRN. 

In connection with the listing, Acron's subsidiary Dorogobuzh is selling 30,000 Shares, including shares in the form of the GDRs, at a price of US$9.00 per GDR or US$90.00 per Share. Ten GDRs represent an interest in one Share.

Morgan Stanley and UniCredit are serving as Joint Bookrunners and advising in connection with the listing, and Alfa Capital Markets is acting as co-lead manager in connection with the offering.

Acron's shares are traded on RTS and MICEX under the symbol AKRN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE RUSSIAN FEDERATION OR JAPAN.

For Further Information:

Notes to editors

Acron is a leading Russian and global mineral fertiliser producer with a diversified product portfolio consisting of multi-nutrient fertilisers such as NPK and bulk blends, and straight nitrogen-based products such as urea, ammonium nitrate and UAN. In 2007, the Acron group's total fertiliser sales volume was 4.4 million tonnes. The Company's key markets are Russia, China and other fast growing developing markets of South Asia, Latin America and former Soviet Union. 

Acron employs over 12,000 people in Russia and China. In 2007 the Acron group's consolidated revenues under IFRS were RUR 31,105 million (US$ 1,267 million), and net income was RUR 5,668 million (US$ 231 million), and for the three months ended 31 March 2008 consolidated revenues under IFRS were RUR 11,661 million (US$ 496 million) and net income was RUR 3,963 million (US$ 169 million). Acron's ordinary shares are listed and traded on the MICEX and RTS stock exchanges under the symbol "AKRN". 

Acron has three production facilities - Acron (Veliky Novgorod, Russia), Dorogobuzh (Smolensk Region, Russia) and Hongri Acron (Shandong Province, China). Acron's logistics and transportation capabilities include its own fleet of railway cars and two sea port trans-shipment facilities on the Baltic Sea, one at the Kaliningrad port of Russia and the other at the Estonian Sillamäe port. The Company operates distribution networks in Russia and China.

Acron plans to enhance its vertical integration and secure supplies of phosphate and potash inputs through the development of its own mineral resource base. The Company owns licences to develop two apatite-nepheline ore deposits in the Murmansk region and a potassium-magnesium salts deposit in the Perm region (both located in Russia). 

This document is not a prospectus but an advertisement for the purposes of Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the United Kingdom under such Directive, the 'Prospectus Directive ') and as such does not constitute an offer to sell or the solicitation of an offer to purchase ordinary shares of Joint Stock Company Acron (the "Shares") or global depositary receipts in respect of such shares (the "GDRs", and together with the Shares, the "Securities"). Investors should not subscribe for any Securities referred to in this document except on the basis of the information contained in the prospectus relating to the Securities. A prospectus prepared pursuant to the Prospectus Directive will be published and investors will be able to obtain a copy of it from Norton Rose LLP, 3 More London Riverside, London, SE1 2AQ, United Kingdom, during usual business hours for 30 days from the date of publication of the prospectus.

Forward Looking Statements

This announcement contains "forward-looking" statements. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control and all of which are based on the Directors' current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "continues", "assumes", "positioned" or "anticipates" or the negative thereof, other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Directors or the Company concerning, amongst other things, capital expenditure and future growth strategies of the Company.

These forward-looking statements and other statements contained in this announcement regarding matters that are not historical facts involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Company. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. The forward-looking statements contained in this announcement speak only as of the date of this document. The Company and its financial advisers expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this document to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law, the Prospectus Rules, the Listing Rules or the Disclosure and Transparency Rules of the Financial Services Authority.

This document and information contained herein is not an offer to (or an invitation to make offers to) sell, purchase, exchange or transfer any Securities in (or for the benefit of any person resident, incorporated, established or having usual residence in) Russia, and does not constitute an advertisement of the securities in Russia. The GDRs to which this document relates have not been and will not be registered in Russia and are not intended for "placement" or "public circulation" in Russia.

This communication is directed only at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (the 'Order') and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as 'relevant persons'). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

In any EEA Member State that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that member state within the meaning of the Prospectus Directive. 

THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR DISTRIBUTION INTO THE UNITED STATES, CANADA, AUSTRALIA, THE RUSSIAN FEDERATION OR JAPAN. THE MATERIAL SET FORTH HEREIN IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED, AND SHOULD NOT BE CONSTRUED, AS AN OFFER OF SECURITIES FOR SALE INTO THE UNITED STATES OR TO, OF FOR THE ACCOUNT OR BENEFIT OF, ANY US PERSON AS THAT TERM IS DEFINED IN REGULATION S UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") OR ANY OTHER JURISDICTION. THE SECURITIES OF THE COMPANY DESCRIBED HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT, OR THE LAWS OF ANY STATE, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY US PERSON AS THAT TERM IS DEFINED IN REGULATION S UNDER THE SECURITIES ACT, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE LAWS. THERE WILL BE NO PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES. 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE RUSSIAN FEDERATION OR JAPAN.