Acron Holds Annual General Meeting on 29 May 2020

1 June 2020

Acron Holds Annual General Meeting on 29 May 2020

The shareholder meeting approved Acron Annual Report, accounting (financial) statements for 2019, Regulation on the Board of Directors as amended, and recommendations of the Board of Directors regarding profit and loss distribution. The meeting resolved to declare 2019 cash dividends on Acron outstanding ordinary shares at the rate of RUB 376 per share. Considering previously paid interim 9M 2019 dividends of RUB 101 per share, the Company will pay dividends of RUB 257 per share. The record date is set for 9 June 2020.

The shareholders elected the Company’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, namely Yury Malyshev, Vladimir Sister and Nikolai Arutyunov, who was named senior independent director. The shareholder meeting also set the amount of remuneration to independent Board of Directors members.

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).

At the meeting of the elected Board of Directors following the annual shareholder 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 Acron’s 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: +7 (495) 777 08 65 (ext. 5196)

Investor Contacts:
Ilya Popov
Investor Relations
Phone: +7 (495) 745 77 45 (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 seaport terminals and distribution networks in Russia and China. Acron’s subsidiary, North Atlantic Potash Inc. (NAP), holds mining leases and an exploration permit for ten 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 2019, the Group sold 7.6 million tonnes of main products to 78 countries, with Russia, Brazil, Europe and the United States as key markets.

In 2019, the Group posted consolidated IFRS revenue of RUB 114,835 million (USD 1,774 million) and net profit of RUB 24,786 million (USD 383 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 around 11,000 people.

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