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PhosAgro PJSC (PHOR)
PhosAgro PJSC: PhosAgro Announces Results of Extraordinary General Meeting
of Shareholders
16-Dec-2022 / 09:59 MSK
Dissemination of a Regulatory Announcement that contains inside
information in accordance with the Market Abuse Regulation (MAR),
transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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PhosAgro Announces Results of Extraordinary General Meeting of
Shareholders
Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading
vertically integrated phosphate-based fertilizer producers, announces the
results of an Extraordinary General Meeting of Shareholders (EGM) held on
8 December 2022.
The EGM took place in accordance with a decision of PhosAgro’s Board of
Directors, which, at a meeting on 3 November 2022, highlighted significant
progress in the implementation of the Company’s climate strategy and
discussed the Company’s financial statements for the first nine months of
2022.
The EGM noted PhosAgro’s strong performance over the first three quarters
of 2022. Mineral fertilizer production increased by 6.7% year-on-year,
reaching 8.1 million tonnes. With this trend in mind, the Company was able
to improve its forecast for the year: production could exceed 10.9 million
tonnes, a year-on-year increase of almost 5%. This expansion was made
possible thanks to the smooth, uninterrupted operation of new production
facilities launched as part of the Company’s comprehensive long-term
development programme.
The Company will invest about RUB 64 billion (including for major
overhauls) this year, and more than RUB 250 billion in the next five
years. At the EGM, PhosAgro’s shareholders approved a decision to pay out
dividends in the amount of RUB 318 per ordinary share. The dividend record
date was set as 19 December 2022.
“In the current environment, we are not scaling back our investment
programme; we are going to allocate a record amount of funds for the
development of our production facilities this year. The Company’s tax
payments are going to increase by 50%. In addition, we have more than
doubled our support for social and charitable programmes, to RUB 10.9
billion. At the same time, PhosAgro is fulfilling its obligations to its
shareholders by paying out dividends that are reinvested in the Russian
economy”, said Viktor Cherepov, Chairman of the Company’s Board of
Directors, in commenting on the results of the EGM.
About the Company
PhosAgro ( 1 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 and avoiding soil contamination by heavy
metals.
PhosAgro Group is the largest manufacturer of phosphate-based fertilisers
in Europe (by total capacity of NAP/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, and the only producer in Russia of nepheline concentrate.
The company’s main products, including phosphite, over 50 types of
fertilizer, phosphate feed, ammonium, and sodium tripolyphosphate, are
used in over 102 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:
2 www.phosagro.ru
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ISIN: US71922G2093
Category Code: GMS
TIDM: PHOR
LEI Code: 25340053KRUNNYUWF472
OAM Categories: 2.2. Inside information
Sequence No.: 209086
EQS News ID: 1514783
End of Announcement EQS News Service
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