Uralkali General Meeting of Shareholders Approves Company Reorganisation through Merger with Subsidiary

01.08.2014
Uralkali General Meeting of Shareholders Approves Company Reorganisation through Merger with Subsidiary

Further to its announcement on 10 June, Uralkali (the Company; LSE: URKA), one of the world’s largest potash producers, announces the decisions of the extraordinary general meeting of shareholders (EGM) held on 31 July 2014.

Shareholders of the Company approved reorganisation of Uralkali in the form of merger of CJSC Uralkali-Technology, a subsidiary of the Company. Following the merger, the Company’s shares held by this subsidiary on the merger date will be cancelled, and the share capital of Uralkali will be reduced accordingly.

Dmitry Osipov, Uralkali CEO, commented:

This reorganisation aims to improve the Company’s operating efficiency through the reduction of production expenses and management costs. The Company will also cancel its shares held by the subsidiary, which follows best global practices and confirms our commitment to increase Uralkali’s shareholder value.


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.11,300 people (in the main production unit). Uralkali’s shares and GDRs are traded on the Moscow Exchange and London Stock Exchange, respectively.

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Cardinal rules

Smoking in mines is prohibited.
Work at heights without wearing a safety harness is prohibited.
Work in electrical installations under voltage is prohibited.
It is forbidden to perform work and stay in the bottomhole zone during the operation of the mining machine.
Loading and unloading operations when people are in the danger zone are prohibited.
Working in underground mines with unsecured and/or unassembled roofing is prohibited.
It is forbidden to carry out repairs and maintenance of conveyors without disconnecting from energy sources, use of conveyors for transfer of people and goods (materials and/or equipment), crossing (either above or under) operating conveyors by employees are not allowed.
It is forbidden to carry out welding and flame work in underground mines and mine buildings without the necessary safety measures preventing fire.