Berezniki, Russia, 21-8-2015 — /EuropaWire/ — Uralkali (LSE: URKA; the Company), one of the world’s largest potash producers, noting media reports that it is considering a buyback of its securities, which may lead to de-listing of its global depositary receipts (“GDRs”) representing its common shares on the London Stock Exchange (“LSE”) announces that:
As previously disclosed, the Board of Directors, at its meeting held on 23 June 2015, reviewed the results of the tender offer completed on 11 June 2015 by its wholly-owned subsidiary, Enterpro Services Limited and requested the Audit Committee of the Board to evaluate the benefits of the listing of the Company’s GDRs on the LSE and present its recommendations for the consideration of the Board by the end of August 2015. In accordance with such request, the Audit Committee has been evaluating the benefits of the listing of the GDRs on the LSE and the possibility of a repurchase program for the Company’s securities, and plans to consider these issues at its scheduled meeting on August 24, 2015 and present its recommendations for the consideration of the Board at its scheduled meeting on 24 August 2015. No decision has been made regarding such recommendations, nor whether or not to conduct any tender offer, or if carried out, its terms, including the price and amount of securities subject to such a tender offer. There can be no assurance that any such repurchase program will be approved or any such tender offer will be carried out, or on what terms. The Company wishes to note that it is possible that a further decrease in the free float of the GDRs on the LSE may lead to a de-listing.
A further announcement will be made as appropriate.
Uralkali (www.uralkali.com) is one of the world’s largest potash producers and exporters. The Company’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs ca. 11,000 people (in the main production unit). Uralkali’s shares and GDRs are traded on the Moscow Exchange and London Stock Exchange, respectively.