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Uralkali Board Decisions


Uralkali (the Company; MICEX: URKA), one of the worlds largest potash producers, announces the key decisions taken by its Board of Directors at a meeting on 12 May 2017:

The Board approved early termination of the appointment of Ruslan Ilyasov as a member of Uralkalis Management Board, effective from 12 May 2017. Since 15 May 2017 the Management Board will be composed as follows:

  1. Dmitry Osipov (Chairman)
  2. Yevgeny Kotlyar
  3. Alexander Kulbitsky
  4. Stanislav Seleznev
  5. Marina Shvetsova
  6. Anton Vishanenko
  7. Alexey Yashnikov

The Board decided to amend the agenda of Uralkalis Annual General Meeting (AGM) of shareholders to be held on 20 June 2017 in the town of Berezniki (Perm Territory, Russia) by adding the item regarding subsequent approval of a major transaction  a framework revolving credit facility agreement with the total credit limit not exceeding US$ 750,000,000 executed between Uralkali as borrower, Sberbank (Switzerland) AG and PJSC Sberbank of Russia as creditors, Sberbank (Switzerland) AG as facility agent and SIB (Cyprus) Limited as swap provider.

In accordance with the Joint Stock Companies Law, the Board has determined the price, conditions and order of Uralkali shares buyback from shareholders who have the right to claim buyback of all or part of their shares, if they voted against the approval of the major transaction, or did not participate in voting on this matter. The buyback price determined by the Board is RUB 137.05 per one share of the Company.

The total amount of funds which may be spent by Uralkali for the purpose of share buyback cannot exceed 10% of the value of Uralkalis net assets as of the date of the decision which triggered shareholders right to claim buyback of their shares by the Company. If the total number of shares, submitted by shareholders for the buyback, exceeds the total number of shares which can be bought back by the company in compliance with the limitation described above, shares must be bought back from shareholders on a pro rata basis.

According to Uralkali financial statements as of 31 March 2017, the value of the Companys net assets is RUB 190 billion.

Uralkali (www.uralkali.com) is one of the worlds largest potash producers and exporters. The Companys assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Territory, Russia). Uralkali employs ca.11,000 people (in the main production unit). Uralkalis shares are traded on the Moscow Exchange.

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