OREANDA-NEWS. Uralkali (LSE: URKA; the Company), one of the world’s largest potash producers, announces that the Company has entered into an agreement to acquire 20,358,852 shares of additional issuance of JSC Uralkali-Technology for a total amount of approximately RUB 145 billion, which was approved on 7 August 2015 by Extraordinary General Shareholders Meeting of the Company.

In accordance with the agreement on 11 August 2015 Uralkali transferred the first payment of approximately RUB 90.2 billion to JSC Uralkali-Technology, which was used to pay the debt of JSC Uralkali-Technology to PJSC Uralkali.

The remaining shares of JSC Uralkali-Technology will be paid by 25 August 2015 in accordance with the decision on additional share issuance. The funds will be used to acquire Uralkali GDRs from Enterpro Services Limited. As a result, JSC Uralkali-Technology will hold quasi-treasury shares and GDRs representing 24.2% of the share capital of PJSC Uralkali.

Uralkali 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. 11,000 people (in the main production unit). Uralkali’s shares and GDRs are traded on the Moscow Exchange and London Stock Exchange, respectively.