OREANDA-NEWS. October 29, 2012. PhosAgro ("PhosAgro" or "the Company") (MICEX-RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announced that today its Board of Directors unanimously approved an increase of the Company’s share capital by way of issuance of 13.5 million new ordinary shares with a nominal value of RUB 2.50 per share, which amounts to 10.845% of PhosAgro’s issued shares.

The Board of Directors also approved the additional share issue and the regulatory prospectus.

In accordance with todays decision, PhosAgro may place additional shares through an open subscription at a price determined by the Board of Directors, following state registration of the share issue and after the expiry of the limitation period for exercise of pre-emptive rights. The price of the shares that will be placed among the shareholders having pre-emptive rights to purchase newly-issued shares in an amount pro rata to the number of ordinary shares owned on the date when the PhosAgro Board of Directors took the decision on the share capital increase (19 October 2012) will be determined within the same period.

The shares may be paid for in Russian Roubles or US Dollars by way of wire transfer.

Information about the placement price will be disclosed simultaneously with information about the start of the placement, but no later than the date of the start of the placement. The placement date, which will come after the expiry of the limitation period for exercise of the pre-emptive rights and no earlier than two weeks following the date of disclosure of the information on state registration of the additional share issue, is determined by the authorised executive body of PhosAgro. The Company has one year from the date of state registration of the additional share issue to conduct the share placement.