OREANDA-NEWS. May 20, 2011. Following a meeting held on 18 May 2011, the OJSC Uralkali (“Uralkali”) Board of Directors has taken the following decisions.

The Uralkali Board of Directors has resolved to convene the Company’s Annual General Meeting of Shareholders (“AGM”) in Berezniki on 29 June 2011.

The Board of Directors has recommended that the AGM approve dividend payment of 4.55 roubles per share and about USD 0.8 per GDR[i]. The record date is scheduled for 24 May 2011.The dividends will be paid on all Uralkali’s ordinary shares, including two additional issuances to be converted into Silvinit shares resulting from its combination with Uralkali. It is planned that approximately 50% of the net profit received by Uralkali and Silvinit in 2010 according to IFRS will be paid out as dividend. The record date is scheduled for 24 May 2011.The dividends will be paid on all Uralkali’s ordinary shares, including two additional issuances to be converted into Silvinit shares resulting from its combination with Uralkali. It is planned that approximately 50% of the net profit received by Uralkali and Silvinit in 2010 according to IFRS will be paid out as dividend.

The Board of Directors has recommended that the AGM approve changes to the Regulations for the Appointment of directors and to Remuneration paid to the members of Uralkali’s Board of Directors. The Board proposes to increase the basic annual remuneration for the members of the Board who are independent directors, excluding the Chairman of the Board of Directors, from USD 100,000 to USD 150,000. The increase is recommended in connection with the combination of Uralkali and Silvinit which increases the scale of Uralkali’s activities.

As part of the preparation for the upcoming AGM, the Board of Directors has approved the  list  of candidates for  the Board. The list of candidates proposed by the shareholders includes Sir Robert John Margetts and Paul James Ostling who both have extensive experience as independent directors including public companies. The current Chairman of the Board of Directors Alexander Voloshin has also been nominated as an independent director. Mr Voloshin, with his unique expertise and impeccable reputation, is highly respected by the business community. From 1999 to 2003 Alexander Voloshin was the Head of Russia’s Presidential Executive Office, and from 2003 to 2008 he was Chairman of the Board of Directors of RAO UES of Russia. From 2008 to 2010 Mr. Voloshin was Chairman of the Board of Directors of MMC Norilsk Nickel, and in 2011 he was re-elected to this position.