London, February 13
|For Immediate Release||13 February 2017|
PhosAgro Free-float Increases to 25.10% After SPO
Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that it has been notified by its shareholder Adorabella Limited that in connection with the placement of 5,827,500 shares, all procedures related to the transfer of ownership rights have been completed. As a result, as of the day of publication of this announcement, Adorabella Limited’s stake in PhosAgro has decreased from 22.95% to 18.45%.
As far as the Company is aware and as previously disclosed, Adorabella Limited intends to use a portion of the funds raised from this placement for the purchase of 3,496,500 shares of PhosAgro (2.7% of the Company’s total share capital) from Mr. Igor Antoshin, a member of the Board of Directors of PhosAgro, at the SPO placement price, subject to certain currency and other expenses.
As a result of this transaction, PhosAgro’s free-float increased from 20.6% to 25.1%.
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%).
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. It is Russia’s only producer of nepheline concentrate.
PhosAgro’s main products include phosphate rock, 33 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world’s inhabited continents. The Company’s priority markets outside of Russia and the CIS are Latin America, Europe and Asia.
PhosAgro’s shares are traded on the Moscow Exchange, and global depositary receipts (“GDRs”) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company’s GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.