26 Sep 2012 08:00
For Immediate Release 26 September 2012PhosAgro Announces Registration and Results of PhosAgro-Cherepovets Share Issue
Moscow - PhosAgro ("PhosAgro" or "the Company") , a leading global vertically integrated phosphate-based fertiliser producer, announces that the North-western Regional Division of the Russian Federation Federal Financial Markets Service (FFMS) has completed registration of an issue of ordinary shares by the Company's subsidiary PhosAgro-Cherepovets, and also announces the results of that issue.
The share issue is the initial issue by PhosAgro-Cherepovets, which was created by the merger of Ammophos and Cherepovetsky Azot on 1 July 2012. The issue was set at up to 1.25 billion ordinary shares with a nominal value of RUB 1.10 each; in total, 1,248,678,417 ordinary shares with a nominal value of RUB 1.10 each were issued. The shares of the merged companies were converted at the ratio of one share of PhosAgro-Cherepovets for 0.01 ordinary shares of Ammophos, 0.0262 ordinary shares of Cherepovetsky Azot and 0.027 preferred shares of Cherepovetsky Azot.
Following the registration of the share issue by the North-western Regional Division of the Russian Federation FFMS and the requisite changes to the Charter of PhosAgro-Cherepovets, the authorised share capital of PhosAgro-Cherepovets stands at RUB 1,373,546,259. PhosAgro and its associated company Phosint Limited own 87.6% of the shares of PhosAgro-Cherepovets.
Shareholders of Cherepovetsky Azot and Ammophos approved the re-organisation of the companies by way of merger at an EGM on 27 February 2012.
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 7725 026 247Notes 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)