Moscow — PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, informs that, in accordance with Federal Law No. 114-FZ “On Amendments to Federal Law ‘On Joint-Stock Companies’ and Certain Legislative Acts of the Russian Federation” dated 16 April 2022, as amended, PhosAgro has submitted to AO Citibank (“Depositary”), which maintains the depositary account of the depositary receipts programme relating to global depositary receipts representing shares in PhosAgro (“GDRs”), a notification on them being required to take the actions to allow holders of GDRs deposited with Russian custodians to obtain the corresponding number of shares in PhosAgro.
Pursuant to the notification sent by PhosAgro, the Depositary will be required to automatically convert the GDRs held with Russian custodians into shares in PhosAgro in accordance with the procedure and terms set out in the decision of the Central Bank of Russia’s Board of Directors “On Adopting the Procedure for the Automatic Conversion of the Securities of Foreign Issuers that Represent Shares in Russian Issuers into Shares in Russian Issuers” dated 22 July 2022.