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PhosAgro PJSC (PHOR)
PhosAgro PJSC: Independent Director Viktor Cherepov Re-elected Chairman of
PhosAgro’s Board of Directors
04-Apr-2023 / 08:30 MSK
The issuer is solely responsible for the content of this announcement.
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Independent Director Viktor Cherepov Re-elected Chairman of PhosAgro’s
Board of Directors
Moscow – The Board of Directors of PhosAgro (Moscow Exchange, LSE: PHOR),
one of the world’s leading vertically integrated phosphate-based
fertilizer producers, re-elected the independent director Viktor Cherepov
as its Chairman at its first meeting since the Company’s Annual General
Meeting of Shareholders. Alexander Sharabaiko was re-elected Deputy
Chairman of the Board of Directors.
The meeting also approved the leadership and membership of the Board
committees.
The independent director Viktor Cherepov was re-elected Chairman of the
Audit Committee; Siroj Loikov was elected Chairman of the Remuneration and
Human Resources Committee; and Alexander Sharabaiko was re-elected
Chairman of the Strategy and Sustainable Development Committee. Sergey
Samosyuk was re-elected Secretary of the Board of Directors.
Having considered the issue of the compliance of the membership of the
committees with the objectives of the Board of Directors and the goals of
the Company’s activities, the Board of Directors confirmed that, at
present, taking into account the scale of operations and the level of
risk, the membership of the committees of the Board of Directors is fully
in line with the objectives of the Board of Directors and the goals of the
Company’s activities, and that there is no need to create additional Board
committees.
The Board of Directors also recognised Vladimir Trukhachev as an
independent director in accordance with the provisions of the Corporate
Governance Code and the Listing Rules of Moscow Exchange.
In addition, the Company’s CEO, Mikhail Rybnikov, spoke at the meeting
about the key results of PhosAgro Group’s operations in the first quarter:
“The consistent implementation of our long-term development programme has
enabled us to continue to ramp up the pace of production of agrochemical
products. According to preliminary data, production in 1Q increased 6%
year-on-year , which lays a solid foundation for us to achieve our
production target of 11.3 million tonnes by the end of the year. The main
factors driving increased production are our new million-tonne plant in
Volkhov, which is going to reach design capacity this year, and our
production facility in Balakovo, where the second phase of our large-scale
strategic development programme is being completed.
“Positive production trends are reflected in our higher tax payments at
all levels and in our support for corporate social and charitable projects
as well as our increasing capitalisation: as of the end of 1Q, investors
had estimated PhosAgro’s total value at RUB 1 trillion.”
About the Company
PhosAgro (www.phosagro.ru) is a vertically integrated Russian company and
one of the world’s leading producers of mineral phosphorous fertilizers
and of high-grade apatite concentrate grading 39% P2O5 and higher.
PhosAgro’s fertilizers are highly effective, ensuring the improved quality
of agricultural produce.
PhosAgro Group is the largest manufacturer of phosphate-based fertilisers
in Europe (by total capacity of DAP/MAP/NP/NPK/NPS production), the
largest producer of phosphite grading 39% P2O5 in the world and one of the
leading global producers of ammonium and diammonium phosphate, one of
Europe’s leading and the only producer in Russia of monocalcium phosphate
feed (MCP), and the only producer in Russia of nepheline concentrate.
The company’s main products, including phosphite, 57 grades of fertilizer,
phosphate feed, ammonium, and sodium tripolyphosphate, are used in around
100 countries on all inhabited continents. Our priority markets, besides
Russia and the CIS, are Latin America, Europe, and Asia.
The company's shares are listed on the Moscow Exchange and its Global
Depositary Receipts (GDRs) are listed on the London Stock Exchange (MOEX
and LSE ticker: PHOR).
More information about PhosAgro PJSC can be found on our site:
1 www.phosagro.ru
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ISIN: US71922G2093
Category Code: MSCH
TIDM: PHOR
LEI Code: 25340053KRUNNYUWF472
Sequence No.: 234623
News ID: 1600213
End of Announcement EquityStory RS News Service
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