Acron subsidiary Acronit (99.9% of its shares are owned by Acron) resolved to increase its authorised capital by issuing additional shares worth a total of RUB 17,295 million. Acron’s Board of Directors approved the transaction to acquire the additional Acronit shares.
Acronit owns 100% of Verkhnekamsk Potash Company and 100% of common shares of North-Western Phosphorous Company. Funds received from the sale will be used to increase VPC’s authorised capital in order to repay its internal loan to Acron. This transaction is aimed at optimising Acron Group’s corporate structure, does not require any additional fundraising and will be conducted using the Group’s authorised capital.