PJSC Acron Acron Group Promoting Cooperation With Financial Partners Under The Talitsky Potash Project

Date : 30/06/2020 @ 16:28
Source : UK Regulatory (RNS & others)

PJSC Acron Acron Group Promoting Cooperation With Financial Partners Under The Talitsky Potash Project

 
TIDMAKRN 
 
 
   30 June 2020 
 
   Acron Group Promoting Cooperation with Financial Partners 
 
   under the Talitsky Potash Project 
 
   Otkritie Bank has acquired a stake in VPC's Talitsky potash project. The 
acquisition was made via Closed-end Mutual Fund Otrkitie, a member of 
Otkritie Bank. Having sold 10.1% of VPC shares to the Bank, Acron Group 
reduced its stake in the project to 50%+1 share. 
 
   The other Talitsky stakeholder is Sberbank Investment, which holds two 
stakes of 20% and 19.9%. Earlier this month, Sberbank Investment decided 
to extend the term of its 19.9% stake in the Group's potash project. 
 
   Acron Board of Directors Chairman Alexander Popov commented on the 
acquisition: 
 
   "We are happy that Otkritie Bank has joined our major potash project. 
Acron Group has been focused on strengthening long-term cooperation with 
its financial partners. We would like to thank our partners for their 
participation in the project, which adds flexibility to the project in 
the current macroeconomic environment. 
 
   We have entered the final stage of building vertical shafts. With the 
banks' support, in the future, we will be able to proceed to 
constructing the ground facilities and the underground mine, taking into 
account market conditions and needs." 
 
   Viktor Nikolaev, member of the Management Board, Corporate and 
Investment Block Executive at Otkritie Bank: 
 
   "For us, this acquisition is an attractive investment opportunity, the 
first step towards implementation by our partner, Acron Group, of a 
large investment project that will help create an export-oriented 
production facility with an annual extraction volume of 7.5 million 
tonnes of ore and production capacity of 2.0 million tonnes of potassium 
chloride per year." 
 
 
 
   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 the 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 
https://www.globenewswire.com/Tracker?data=g3TepLvOghQPrxlwm5xUlalm9kUzJ97DTvfwHzG3m8eVnN8OhO9soVWEj6bbaMh4FQ8VtHsZFNL1T-fSvmoKbw== 
www.acron.ru/en. 
 
 
 
 
 
 

(END) Dow Jones Newswires

June 30, 2020 11:28 ET (15:28 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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