21 Nov 2023 12:55

Shareholders of Togliattiazot once again abandon company's plans to go public

SAMARA. Nov 21 (Interfax) - Togliattiazot has refused to go public and changed its name from PJSC to JSC Togliattiazot by decision of its shareholders adopted at an extraordinary meeting in early November, the company's website says.

The changes took effect on November 20.

The new abbreviated corporate name of the company is JSC TOAZ.

"Due to the change in the company's corporate name, the seal, stamps and letterheads have been changed," the statement says.

As reported, shareholders of PJSC Togliattiazot have repeatedly tried to vote for the transformation of the company into a non-public one. In previous attempts, shareholders did not have enough of a quorum to vote on this issue, and when considering this issue after the enterprise came under the control of Uralchem, no decision was made. The company did not comment on the reasons for this.

The charter capital of Togliattiazot is 97,115,506 rubles, and is divided into 431 ordinary shares with a par value of 225,326 rubles. Last year, as part of the bankruptcy of the former head and owner of Togliattiazot Sergei Makhlai, following several auctions, Uralchem structures bought 80.9% of the shares of the PJSC, which were accounted for and deposited in accounts in Togliattikhimbank.

Togliattiazot is one of the world's largest producers of ammonia. Its production capacity is more than 3 million tonnes of ammonia and 960,000 tonnes of urea per year.