OREANDA-NEWS. March 30, 2011. The Uralkali and Silvinit boards of directors approved the Shareholder Redemption Reports for the redemption of the shares held by the shareholders of the two potash producers who voted against, who abstained from voting on the merger and approval of major transactions or who did not participate in the Extraordinary General Shareholders Meetings of Uralkali and Silvinit held on February 4, 2011. The Shareholder Redemption Reports were completed on March 21 by Silvinit and on March 22 by Uralkali.

The number of Uralkali ordinary shares submitted for the redemption totaled 121,330. The amount of funds to be spent by Uralkali on the redemption will constitute approximately 24.7 million roubles (approximately 0,87 million US dollars).

The overall number of Silvinit ordinary shares subject to the redemption under the shareholder requests was 430. The amount of funds allotted to the redemption of ordinary shares by Silvinit will be approximately 11.7 million roubles (approximately USD 0,41 million US dollars). In addition, funds to be spent by Silvinit on the redemption of its 3,491 preferred shares submitted for the redemption will be approximately 36.8 million roubles (approximately USD 1,3 million US dollars). As a result, Silvinit’s total amount of funds allocated to the redemption will total approximately 48.5 million roubles (approximately USD 1,71 million US dollars).

Vladislav Baumgertner, CEO, said:

The fact that redemption requests were filed only for a negligible amount of the shares of Uralkali and Silvinit proves that the overwhelming majority of Uralkali and Silvinit stockholders look forward to the benefits that will accrue from co-ownership of the merged companies’ equity. This is yet more evidence that the combination terms are fair. Also, we are determined to do everything possible to complete the transaction in accordance with the previously announced timetable.