PhosAgro board approves share capital increase
MOSCOW. Oct 19 (Interfax) - Directors at PhosAgro have approved a share capital increase by issuing 13.5 million new ordinary shares with oar value of 2.5 rubles each amounting to 10.845% of PhosAgro's issued shares, the fertilizer producer said in a statement.
PhosAgro may place the additional shares through an open subscription at a price determined by the Board of Directors, following state registration of the share issue and after the expiry of the limitation period for exercise of pre-emptive rights. The price of the shares that will be placed among the shareholders having pre-emptive rights to purchase newly issued shares in an amount pro rata to the number of ordinary shares owned on the date when the PhosAgro Board of Directors took the decision on the share capital increase (19 October 2012) will be determined within the same period.
Information about the placement price will be disclosed simultaneously with information about the start of the placement, but no later than the date of the start of the placement. The placement date, which will come after the expiry of the limitation period for exercise of the pre-emptive rights and no earlier than two weeks following the date of disclosure of the information on state registration of the additional share issue, is determined by the authorised executive body of PhosAgro. The Company has one year from the date of state registration of the additional share issue to conduct the share placement.
PhosAgro has 124,477,080 issued shares, par value 2.5 rubles each, at present.
