15 Aug 2012 13:00
For Immediate Release 15 August 2012
PhosAgro Board Recommends Interim Dividend of RUB 38/share
Moscow - PhosAgro ("PhosAgro" or "the Company") , a leading global vertically integrated phosphate-based fertilizer producer, announces that its Board of Directors today recommended an interim dividend payment for the first six months of 2012 of RUB 4,730,129,040, or RUB 38.00 per share (RUB 12.67 per GDR).
The Board set the extraordinary general meeting of shareholders (EGM) date of 28 September 2012, and determined 22 August 2012 as the record date for the EGM and dividends. The Board also approved a number of items related to holding the EGM.
At today's meeting the Board also approved a bank guarantee that is required for PhosAgro's participation in the Apatit privatisation tender, and which is considered a large transaction under Russian law. The bank guarantee is to be provided to PhosAgro from 4 September 2012, which corresponds with the new date of the Apatit privatisation tender.
For further information please contact:
OJSC PhosAgro+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press OfficerM:CommunicationsSam VanDerlipvanderlip@mcomgroup.com+44 (0) 20 7920 2356Notes 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. The Group is the largest phosphate-based fertiliser producer in Europe, the largest producer of high-grade phosphate rock worldwide and the second 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 2011 IFRS revenue was USD 3.4 bln and EBITDA was USD 1.2 bln. The С ompany's net debt/EBITDA ratio was 0.43 at 31 December 2011.
For further information on PhosAgro please visit: www.PhosAgro.com
Phosagro S (PHOR)