On 15 March 2016 Uralkali (the Company; MICEX: URKA) held its Extraordinary General Meeting of Shareholders (EGM) in the town of Berezniki (Perm Region, Russia) where following decisions have been made:
The EGM approved a major transaction with PJSC Sberbank — a credit line in the amount of up to USD 3.9 billion for the purpose of refinancing of earlier credits received from the bank as well as other general corporate purposes, which, together with related agreements, may be secured by way of pledge to PJSC Sberbank of Uralkali shares and GDRs constituting up to 20.1% of the Company’s issued ordinary shares.
Shareholders abstained from voting on the cancellation of the reorganisation of Uralkali by way of merger into it of its subsidiary, JSC Uralkali-Technology, as well as related decision on decrease of the Company’s share capital by way of cancellation of the Company’s shares held by JSC Uralkali-Technology, which was approved by the EGM on 31 July 2014.
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 are traded on the Moscow Exchange.