OREANDA-NEWS. 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.