OREANDA-NEWS. May 17, 2011. OJSC Uralkali ("Uralkali") announces that the 17th Arbitration Court of Appeal decided at a hearing held on 11 May 2011 to uphold the decision to lift partially the injunction imposed in February 2011 following the claim filed by OJSC Acron, Licona (International) Limited, ROF (Cyprus) Limited and Medvezhonok Holdings Limited.

The court has therefore kept in force the ruling made by the Perm Territory Arbitration Court on 18 March 2011 that lifted the injunction prohibiting Silvinit from implementing the decision to reorganise itself through a merger with Uralkali, which was approved by Silvinit shareholders; as well as the injunction prohibiting the implementation of the merger agreement and the registration of the termination of Silvinit through entries into the Unified State Register of Legal Entities upon completion of the merger.

Moreover, on 13 April 2011 the 17th Arbitration Court of Appeal lifted the measure prohibiting the Russian Federal Service for Financial Markets from registering Uralkali share issuance and the report on the results of share issuance – to be placed as a result of conversion of Silvinit shares into Uralkali shares – upon completion of the merger in accordance with the merger agreement.