PhosAgro GDR Conversion Update

OJSC PHOSAGRO - PhosAgro GDR Conversion Update

PR Newswire

London, June 25

PhosAgro GDR Conversion Update

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, announces that Citigroup Global Markets Deutschland AG has suspended the conversion function of the Company’s global depositary receipt ("GDR") facility.

This action is related to the arrest of 170,500 PhosAgro shares (representing 0.13% of PhosAgro’s share capital) that were stolen in the fall of 2014 from Maxim Volkov.

Trading functionality of PhosAgro GDRs and ordinary shares is not affected. PhosAgro is working to remove all limitations on the conversion of shares and GDRs. At the same time, the Company does not expect any interruption to regular trading operations in its shares and GDRs.

For further information please contact: OJSC PhosAgroIrina Evstigneeva, Head of Corporate Finance and Investor Relationsir@phosagro.ru+7 495 231 3115 Timur Belov, Press OfficerAnastacia Basos, Deputy Press Secretary+7 495 232 9689EMSam VanDerlipvanderlip@em-comms.com+44 7554 993 032+7 499 918 3134 

Notes to Editors

PhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%), as well as ammonia and nitrogen-based fertilizers. 

The Company is the largest phosphate-based fertilizer 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 one of the leading producers of feed phosphates (MCP) 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. The Company'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 fertilizer 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. 

PhosAgro’s 2014 IFRS revenue was over USD 3.2 bln and EBITDA was USD 979 mln.

For further information on PhosAgro please visit: www.PhosAgro.com