Acron Holds Annual General Meeting on 30 May 2019

31 May 2019

Acron Holds Annual General Meeting on 30 May 2019

The shareholder meeting approved Acron Annual Report, accounting (financial) statements and profit and loss distribution for 2018. Acron’s 2018 RAS net profit was RUB 10,810,366 thousand. The shareholders resolved to declare 2018 dividends in cash at the rate of RUB 135 per outstanding ordinary share. The total amount to be distributed as dividends is RUB 5,472,090 thousand. The record date for persons entitled to dividends is set for 11 June 2019.

The shareholders elected Acron’s Board of Directors as follows:

1. Nikolai Arutyunov
2. Vladimir Gavrikov
3. Georgy Golukhov
4. Alexander Dynkin
5. Yury Malyshev
6. Alexander Popov

7. Vladimir Sister

           
Three independent directors will sit on the elected Board of Directors: Yury Malyshev, Vladimir Sister and Nikolai Arutyunov, who was named senior independent director. The general meeting also set the amount of remuneration to independent members of Acron’s Board of Directors.

The shareholder meeting also approved:

• Crowe Russaudit as the auditor to approve accounting (financial) statements prepared in accordance with accounting laws of the Russian Federation
• KPMG as the auditor to approve financial statements prepared in accordance with the International Financial Reporting Standards (IFRS).

The general meeting elected the Internal Audit Team consisting of Valentina Aleksandrova, Irina Dudicheva, Elena Zubrilova, Elena Potapova and Tatiana Khrapova.

At the meeting of the elected Board of Directors following the general meeting, Alexander Popov was elected Chairman of the Board of Directors, Vladimir Gavrikov was elected Deputy Chairman of the Board of Directors, and Vladimir Kunitsky was appointed CEO. The Board of Directors also formed the Managing Board consisting of Vladimir Kunitsky (Chairman), Vice President for Finance and Economics Dmitry Balandin, Finance Director Alexey Milenkov, Vice President for HR and Special Projects Irina Raber, Vice President Overseas Dmitry Khabrat and Vice President for Domestic Business and Agricultural Projects Alexander Lebedev.

Media Contacts:

Sergey Dorofeev
Anastasiya Gromova
Tatiana Smirnova
Public Relations
Phone: [phone] (ext. 5196)

Investor Contacts:
Ilya Popov
Investor Relations
Phone: [phone] (ext. 5252)

Background Information

Acron Group is a leading vertically integrated mineral fertiliser producer in Russia and globally, with chemical production facilities in Veliky Novgorod (Acron) and the Smolensk region (Dorogobuzh). The Group owns and operates a phosphate mine in Murmansk region (North-Western Phosphorous Company, NWPC) and is implementing a potash development project in Perm Krai (Verkhnekamsk Potash Company, VPC). It has a wholly owned transportation and logistics infrastructure, including three Baltic port terminals and distribution networks in Russia and China. Acron’s subsidiary, North Atlantic Potash Inc. (NAP), holds mining licenses for 11 parcels of the potassium salt deposit at Prairie Evaporite, Saskatchewan, Canada. Acron also holds a minority stake (19.8%) in Polish Grupa Azoty S.A., one of the largest chemical producers in Europe.

In 2018, the Group sold 7.3 million tonnes of various products to 67 countries, with Russia, Brazil, Europe and the United States as key markets.

In 2018, the Group posted consolidated IFRS revenue of RUB 108,062 million (USD 1,723 million) and net profit of RUB 13,318 million (USD 212 million). Acron’s shares are on the Level 1 quotation list of the Moscow Exchange and its global depositary receipts are traded at the London Stock Exchange (ticker AKRN). Acron employs approximately 11,000 people.

For more information about Acron Group, please visit www.acron.ru/en.