Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Uralkali Approves Share Issue

Uralkali's board of directors voted Monday to issue 1.2 billion new shares to facilitate a merger with fellow potash miner Silvinit, Uralkali said in a statement.

The new shares each have a par value of 0.50 rubles, and a total par value of 600 million rubles ($20.58 million). The additional Uralkali shares are expected to be converted into Silvinit ordinary and preferred shares. The conversion ratio for Silvinit's ordinary and preferred shares is 0.0075 and 0.019, respectively, per Uralkali ordinary share.

A total of 1,565,151 ordinary shares of Silvinit are planned for acquisition by Uralkali. The board also voted to appoint Vladislav Baumgertner chief executive and to eliminate the position of Uralkali president.

(Interfax)

Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.