Acron might resale shares previously bought back from minority shareholders
MOSCOW. Feb 1 (Interfax) - Russian mineral fertilizer producer Acron has transferred 56,263 shares that it bought back from shareholders last April who disagreed with the company's reorganization by merging with CJSC Granit to a broker, Acron said in a statement.
This stake is 0.14% of the company's charter capital.
Last year, Acron bought these shares back at 1,143 rubles each. At the close of trade on January 31, Acron's shares cost 1,425 each on the Moscow Exchange. Therefore, the company could earn approximately 16 million rubles from the sale.
Acron's board of directors decided last year to reorganize the company by merging its 100% subsidiary Granit to it. Granit owns a treasury stake in Acron worth 7.154 million shares, or 15% of its charter capital. As a result of the reorganization, Acron's charter capital was reduced to 202.67 million via the cancellation of these shares. Now it is divided into 40.534 million ordinary shares, par value 5 rubles each.
Last year, Acron boosted mineral fertilizer production 11% to 2.683 million tonnes. Ammonium nitrate output grew 1% to 1.423 million tonnes, urea production jumped 25% to 571,400 tonnes, and carbamide-ammoniac compound output - 25% to 688,700 tonnes. Ammonia output was up 1% to 1.783 million tonnes.
Acron produced 2.46 million tonnes of complex fertilizers in 2012, down 2% over 2011. NPK output was down 4% to 2.236 million tonnes, and mixed fertilizer production dropped 15% to 310,300 tonnes.
Acron attributes the drop in complex fertilizer output to prolonged scheduled repairs on the main production capacities at OJSC Dorogobuzh in the second and third quarters of 2012, as well as to the forced shutdown of NPK production units at the group's Russian factories due to a lack of phosphate raw material last summer.
As a whole, Acron kept its output of commodity products at the 2011 level of 5.8 million tonnes.
