OJSC PHOSAGRO - PhosAgro Board Apprvs Launch of New Shr Issue, Issue Prc.
For Immediate Release 10 April 2013
PhosAgro Board Approves Launch of New Share Issueand Sets Issue Price
Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that its Board of Directors on 9 April 2013 approved the price of USD 42 per share for the Company's additional share issue.
The approved price for the newly-issued shares corresponds to the offer price for 11,111,000 existing shares sold by a group of the Company's shareholders that preceded the beginning of PhosAgro's new share issue.
The newly-issued shares may be paid for in Russian Roubles or US Dollars by way of bank transfer. For payments in Russian Roubles, the exchange rate set by the Central Bank of the Russian Federation on 9 April 2013 shall be used.
PhosAgro CEO Maxim Volkov has approved 10 April 2012 as the start date of the new share issue.
PhosAgro's Board of Directors on 19 October 2012 approved a share issuance prospectus and a capital increase. Both the capital increase and the share issuance prospectus were registered by the FSFM on 15 November 2012.
For further information please contact:
+7 495 231 2747
Irina Evstigneeva, Head of Corporate Finance and Investor Relations
Timur Belov, Press Officer M:Communications Sam VanDerlip email@example.com +44 (0) 20 7920 2356 Notes 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 (with P2O5 content of not less than 39 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 according to the G.P. Luzin Institute of Economic Problems of the Kolskiy Scientific Centre of the Russian Academy of Sciences, 2010).
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. PhosAgro's 2011 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.2 bln. The Ii ompany's net debt/EBITDA ratio was 0.43 at 31 December 2011.
For further information on PhosAgro please visit: www.PhosAgro.com
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|Publication:||PR Newswire UK Disclose|
|Date:||Apr 10, 2013|
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