31 Mar 2009 13:15
March 31, 2009
Acron Announces the Annual General Shareholders Meeting
Acron's Board of Directors passed the resolution to hold the annual general shareholders meeting on May 28, 2009.
The Board of Directors set the agenda for the annual shareholders meeting as follows:
Approval of Acron's 2008 annual report.
Approval of Acron's 2008 annual financial statements, including income statement (profit and loss accounts), as well as allocation of profit and losses of Acron in 2008.
Payment (declaration) of dividend for 2008, the amount thereof, form and procedure for its payment.
Election of Acron's Board of Directors.
Payment of remuneration and compensation to Acron's Board of Directors.
Approval of Acron's Auditor.
Approval of Acron's Internal Audit Team.
Amendments and addenda elaborated by Acron's Board of Directors to Acron's Charter.
Approval as amended of the Regulation on the Managing Board elaborated by Acron's Board of Directors.
Approval of related party transactions.
The date of compiling the list of Acron's shareholders entitled to attend Acron's annual general shareholders meeting is April 10, 2009.
For Further Information:
Acron
Elena Kochubey - Tel: +7 (495) 777 08 65
Head of Public Relations
Ilya Popov - Tel: + 7 (495) 411 55 94
Head of Investor Relations
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 2008, the Group's output of ammonia and mineral fertilisers (exclusive of own use) totaled 3.6 million tonnes.The Group'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 Group's consolidated revenues under IFRS were RUB 31,105 million (US$ 1,267 million), and net income was RUB 5,668 million (US$ 231 million). Acron's ordinary shares are listed and traded on the MICEX, RTS and LSE 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 three sea port trans-shipment facilities on the Baltic Sea - at the Kaliningrad port of Russia, at the Estonian Sillamäe port and at the Estonian Tallinn port. The Group 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 Group 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).