JSC URALKALI URKA Uralkali resumes buyback programme

  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: ir@msc.uralkali.com 

Media Relations

Alexander Babinsky

Head of Public Relations, Uralkali

Tel.: +7 (495) 730 2371

E-mail: pr@msc.uralkali.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
 
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