28 May 2009 14:02
May 28, 2009
Acron Holds Annual General Shareholders Meeting on May 28, 2009
Acron's Board of Directors was re-elected as follows: Alexander Popov, Senior Vice President (Chairman of the Board of Directors), Vladimir Gavrikov, Executive Director (Deputy Chairman of the Board of Directors), Viktor Kochubey, Senior Deputy Executive Director, Oleg Kornyshev, Head of Corporate and Legal Division, as well as independent directors Alexander Dynkin, Director of the Institute of World Economy and International Relations at the Russian Academy of Sciences, Igor Belikov, Director of the Russian Institute of Directors, and Nikolai Arutyunov, Director of the research department at the Moscow office of NCH Advisors, Inc.
Valentina Alexandrova, Irina Klassen, Nadezhda Preobrazhenskaya, Tatyana Strigalyova, and Tatyana Khrapova were elected to the Internal Audit Team.
The shareholders meeting adopted a resolution to declare dividends for the fiscal year 2008 of RUB 80 per one ordinary share of Acron. Due to the earlier paid interim dividends for the first quarter and the first six months of the fiscal year 2008 of RUB 80 per one ordinary share, additional dividends will not be paid. The total amount of paid dividends is RUB 3.8 billion.
The shareholders meeting approved the annual report and the annual financial statements, including the profit and loss statement, as well as the allocation of Acron's profit and loss for the year 2008. A resolution to amend the Charter was adopted, and the amended Regulation on Acron Managing Board was approved. The shareholders meeting named Acron's auditors as follows: LLC Baker Tilly Russaudit for RAS-based financial statements, and ZAO PricewaterhouseCoopers for IFRS-based financial statements.
The elected Board of Directors appointed Ivan Antonov as Acron President. Acron's Managing Board was increased to six persons, and now consists of Ivan Antonov, President (Chairman of the Managing Board), Oscar Valters, Vice President for Finance, Dmitry Golubkov, Vice President, Overseas, Vladimir Kunitsky, Senior Vice President, Svetlana Nemova, Vice President for Legal Affairs, and Alexander Popov, Senior Vice President.
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 Asian countries, Europe, Latin America, and FSU countries.
Acron employs over 13,000 people In 2008 the Group's consolidated revenues under IFRS were RUB 43,132 million (US$ 1,734 million), and net income was RUB 9,891 million (US$ 398 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).