JSC URALKALI (URKA) - Uralkali resumes buyback programme RNS Number : 0320R JSC Uralkali 13 November 2012 November 13, 2012 Uralkali resumes buyback programme to drive shareholder value Uralkali (LSE: URKA; "the Company"), one of the world's largest potash producers, announces that on 13 November 2012 the Company's Board of Directors approved a buyback programme in respect of ordinary shares of Uralkali, with a nominal value of RUB 0.5 per share ("Shares"), and Global Depositary Receipts ("GDRs") representing Shares (each GDR representing 5 Shares) (the "Programme"). The aggregate amount of the Programme will not exceed USD 1.636 billion that may be invested in the purchases of Shares and GDRs throughout a period between 13 November 2012 and 13 November 2013. This decision reflects the Company's belief that the Programme will help to create shareholder value over the long term whilst maintaining a robust capital structure in line with the Company's medium term goal of keeping net debt to a range of 1.0x - 2.0x LTM EBITDA. Purchases of Shares and GDRs pursuant to the Programme will be conducted by brokers, VTB Capital or Sberbank CIB and\or their affiliates, to be engaged by ENTERPRO SERVICES LTD, an indirect wholly owned subsidiary of Uralkali. The brokers will carry out purchases ofShares on the over-the-counter market inRussia and GDRs onthe London Stock Exchange and on the over-the-counter market outside the United States, atprevailing market prices atthe time ofpurchases. It is the Company's intention to seek subsequent cancellation of Shares and GDRs acquired in the Programme, provided that necessary corporate approvals and respective corporate actions are in place. The Programme reflects the Company's balanced approach to investing in organic growth and returning excess capital to shareholders. As a result of the Company's buyback programme effected between 6 October 2011 and 6 October 2012, 65,064,932 Shares and 11,152,214 GDRs totaling in aggregate approximately to USD 863.3 million were purchased and subsequently cancelled. Uralkali (www.uralkali.com) is one of the world's largest potash producers with a market share of about 20%. The Company's assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Territory, Russia). Uralkali employs ca. 12,500 people (in the main production unit). Uralkali's shares and GDRs are traded on the RTS-MICEX and LSE, respectively. Enquiries: Investor Relations Anna Batarina, CFA Head of Investor Relations and Capital Markets, Uralkali Tel.: +7 (495) 730 2371 E-mail: firstname.lastname@example.org Media Relations Alexander Babinsky Head of Public Relations, Uralkali Tel.: +7 (495) 730 2371 E-mail: email@example.com www.facebook.com/UralkaliURKA www.twitter.com/UralkaliNEWS This announcement is not intended to, and does not constitute, or form part of, an offer to sell or an invitation to purchase, exchange or subscribe for any securities in any jurisdiction. This announcement does not constitute a prospectus or a prospectus equivalent document. The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. This announcement has been prepared for the purposes of complying with English law and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of England. This information is provided by RNS The company news service from the London Stock Exchange END POSBUBDBRXBBGDX -0- Nov/13/2012 15:39 GMT
JSC URALKALI URKA Uralkali resumes buyback programme
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