Last checked at 14 Mar 2012 15:10
For Immediate Release 14 March 2012
PhosAgro Announces Registration of Report on Results of Share Issue to Conduct Share Split
Moscow, 14 March 2012 - PhosAgro ("PhosAgro" or "the Company") , a leading global vertically integrated phosphate-based fertilizer producer, announces that on 13 March 2012 the Russian Federation Federal Financial Markets Service ("FFMS") officially registered the report on the results of the share issue to conduct the share split. The share issue was approved by shareholders at the extraordinary general meeting of shareholders ("EGM") on 1 December 2011.
The Company intends to announce further the start date for trading in PhosAgro shares, after trading was suspended on 16 February 2012 in connection with the government registration of the issue of shares to conduct the share split.
The share issue to conduct the share split took place on 24 February 2012 and increased the number of PhosAgro shares by 10 times from 12,447,708 ordinary shares with a nominal value of RUB 25 per share to 124,477,080 ordinary shares with a nominal value of RUB 2.5 per share. Following the split, each PhosAgro share now represents 3 GDRs instead of 30 GDRs.
PhosAgro CEO Maxim Volkov said: "We are very pleased to have completed the share split. This should increase the liquidity of our shares traded on MICEX-RTS, which we believe will make them more attractive to a wider range of investors."
For further information please contact:OJSC "PhosAgro"+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press OfficerM:CommunicationsUKStuart Leasorleasor@mcomgroup.com+ 44 20 7920 2317RussiaSam VanDerlipvanderlip@mcomgroup.com+7 495 663 8005Notes 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 (P2O5 content of not less than 35.7 percent), as well as ammonia and nitrogen-based fertilisers. In 2010, the Group was the largest phosphate-based fertiliser 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 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.
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. The Group is the only global vertically integrated fertilizer producer that derives approximately 90% of its consolidated gross profit from the phosphates segment. PhosAgro's 1H 2011 IFRS revenue was $1.7 bln and EBITDA was $620 mln. The С ompany's net debt/EBITDA ratio was 0.6 at 30 June 2011.
For further information on PhosAgro please visit: www.PhosAgro.com