EuroChem Annual General Meeting of shareholders
Moscow, June 22, 2012 – OJSC EuroChem MCC announced today that it held its Annual General Meeting of shareholders (AGM) on 21 June 2012.
The meeting was attended by 100% of the shareholders registered as of 21 May 2012.
Shareholders elected the Board of Directors as well as approved the annual report and financial statements for the 2011 financial year. The shareholders approved the proposal to pay no dividend for 2011.
The AGM confirmed that the Board of Directors shall be composed of eight Directors, including four independent directors. The following members of the EuroChem Board were re-elected: Keith Jackson, George Cardona, Richard Sheath, Vladimir Stolin, Nikolay Pilipenko, Dmitriy Strezhnev, and Andrey Melnichenko. Andrea Wine was elected as a new member of the Board.
At the Board meeting held following the AGM, Andrey Melnichenko was re-elected as Chairman of the Board of Directors. The Board Committee structure was maintained and membership voted as follows: Richard Sheath was re-elected as Chairman and Keith Jackson and Nikolay Pilipenko as members of the Audit Committee. George Cardona was re-elected as Chairman and Keith Jackson as a member of the Strategy Committee. Vladimir Stolin was re-elected as Chairman and Nikolay Pilipenko and Andrea Wine were elected as members of the Corporate Governance and Personnel Committee.
Director resumes are available at http://www.eurochem.ru/about-eurochem-2/corp-gov/board/
Other AGM resolutions
The AGM elected Financial and Accounting Consultants as 2012 external auditor. PricewaterhouseCoopers Audit will remain external auditor for EuroChem’s IFRS reporting.
The shareholders also elected Ruslan Ishkaev, Tatyana Molostova, and Svetlana Ormane to EuroChem’s Revision Commission.
EuroChem is a leading global agrochemical company, producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore. The Group is vertically integrated with activities spanning from mining and natural gas extraction to production, logistics, and distribution. EuroChem is currently developing two sizeable potash deposits in Russia with the Gremyachinskoe (4.6 mtpa) and Verkhnekamskoe (3.4 mtpa) greenfield projects.