Press-release: PhosAgro Shareholders Approve Distribution of 2015 Net Profit for Investment Projects and Dividends

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that the Annual General Meeting of Shareholders (AGM) on 31 May 2016 approved a motion on distribution of net profit for 2015 to fund investment projects and pay dividends. RUB 7,382 million, or RUB 57 per ordinary share (RUB 19 per global depository receipt) will be paid from undistributed profits as final dividends for 2015.

 

The record date for shareholders eligible to receive the dividend was set as 11 June 2016.

 

In his speech to AGM participants Andrey Guryev, member of the Board of Directors and CEO of PhosAgro, said: “This year was one of the most successful in the Company’s history. Since we unveiled our long-term strategy in November 2014, PhosAgro has achieved tangible results that have supported the growth of its fundamental value for all stakeholders. Thanks to investments in modernising production facilities and optimisation of business processes, our annual fertilizer production capacity has increased to a record level of almost 7 million tonnes. All of these factors have significantly increased our Company’s competitiveness, on both the Russian market, our traditional priority, and globally.”

 

The AGM also approved the annual report and financial statements for 2015, elected members of the Board of Directors and the Audit Committee, approved total remuneration and compensation for members of the Board of Directors and procedures for payment, and approved related-party transactions.

 

LLC FBK was re-appointed as the Company’s auditor under RAS, having fulfilled this role last year. CJSC KPMG will audit PhosAgro’s consolidated financial statements for 2016 under IFRS.