FFMS registers PhosAgro's additional share issue for converting prefs
MOSCOW. Sept 20 (Interfax) - The regional office of the Federal Financial Markets Service (FFMS) in the Central Federal District has registered an additional issue of common shares in fertilizer producer OJSC PhosAgro, the service said in a statement.
The issue received state registration number 1-01-06556-A-002D dated September 15, 2011.
PhosAgro will place 35,999 shares at a face value of 25 rubles each. The shares will be placed through the conversion of the company's A2 preferred shares into common shares.
The conversion will be made one the seven working days after the state registration of the additional issue while the preferred shares will be extinguished.
Following the conversion of the preferred shares, PhosAgro's charter capital will go unchanged at 311.193 million rubles and consist of 12.447,708 common shares at a face value of 25 rubles each.
The decision to convert the preferred shares was made by the company's board of directors on the suggestion of investment banks, which recommended that the company simplify the structure of its charter capital as much as possible so that it would be more attractive for investors, PhosAgro earlier said.
PhosAgro earlier converted its A1 preferred shares into common shares. As a result, 1.764 million preferred A1 shares at a face value of 25 rubles each were converted to the same number of common shares.
It was earlier reported that PhosAgro plans to split its common shares at a ratio of one to 10.
PhosAgro produces mineral fertilize from phosphate. It includes Ammophos and Cherepovets Azot , both of Vologda region, Balakovskye Minudobreniya in Saratov region, and Apatit. The company also owns the transport and export firm, LLC PhosAgro-Trans