OJSC PhosAgro (PHOR) PhosAgro Board Recommends 9M 2018 Dividends 20-Nov-2018 / 14:20 CET/CEST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer / publisher is solely responsible for the content of this announcement.
PhosAgro Board Recommends 9M 2018 Dividends
Moscow - The Board of Directors of PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, recommended that the Extraordinary General Meeting of Shareholders ("EGM") approve a dividend payment in the amount of RUB 9.324 billion, or RUB 72 per ordinary share (RUB 24 per Global Depositary Receipt) from retained earnings as of 31 December 2017.
The Board of Directors made this recommendation after reviewing the Company's financial and operating performance for the first nine months of 2018, including the Company's interim consolidated financial statements in accordance with International Financial Reporting Standards ("IFRS"), which are scheduled to be published on 21 November 2018.
PhosAgro CEO Andrey Guryev, who is also a member of the Board of Directors, said: "The Company continues to increase its production capacity and, as a result, has delivered impressive financial results. The significant cash flow generated by the smooth implementation of PhosAgro's long-term development strategy has made it possible to ensure stable dividend payments and to finance new investment programmes and projects in the field of social responsibility. Today's results allow us to look to the future with confidence."
The Board of Directors also re-elected its Remuneration and Human Resources Committee. The committee includes independent directors Irina Bokova and Andrey Sharonov, and Jim Rogers remains its chairman. New versions of the Company's Code of Ethics and its Hotline regulation were approved. In addition, information about the results of monitoring of key risks in the third quarter of 2018 and the development of the project management system for PhosAgro enterprises was taken under advisement.
The Board of Directors also heard information from the chairs of the Board committees on the results of their work in the third quarter of 2018, approved related-party transactions and determined the amount of remuneration for the services of the Company's auditor in accordance with Russian Accounting Standards, FBK LLC.
For further information please contact: PhosAgro
Alexander Seleznev, Head of Investor Relations Department +7 495 232 9689 ext 2187 email@example.com Timur Belov, Press Officer +7 495 232 9689 EM Sam VanDerlip <~text text="vanderlip@em-">comms.com +44 7554 993 032 +7 499 918 3134
About the Company
PhosAgro is one of the world's leading vertically integrated phosphate-based fertilizer producers in terms of production volumes of phosphate-based fertilizers and high-grade phosphate rock with a P2O5 content of 39% and higher.
The Company is the largest phosphate-based fertilizer producer in Europe (by total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of high-grade phosphate rock with a P2O5 content of 39%, a top-three producer of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia, and Russia's only producer of nepheline concentrate (according to the RAFP).
PhosAgro's main products include phosphate rock, 39 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.
More information about PhosAgro can be found on the website: www.phosagro.ru.
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