On June 16th, Uralkli of Russia officially announced through its official website that the "two potassiums" have been merged. This is another world in which the giant potassium fertilizer giant was born.
According to statistics, the total output of potassium chloride of the two companies reached 10.3 million tons last year, and the total export volume reached 8.3 million tons, accounting for 21% to 22% of the total global export volume. Ural said that the merger will not only bring lower operating costs to both parties, but also bring new vitality to some abandoned land reconstruction projects and new development projects. For this acquisition, Ural’s CEO stated that Ural Potash and Silvinit have a natural strategic fit, and they expect this merger to bring more and longer benefits to the company’s shareholders and customers.
It is understood that Ural Potash completed the acquisition through the acquisition of 1665151 ordinary shares of Silivitt, which is equivalent to the acquisition of 20% of the company's capital stocks. In accordance with the law, in the future, Silivnett will operate the company’s existing stocks and priority capital stocks through the issuance of common shares by Urals. After the merger, the total shares of Ural Potash reached 3,049,637,905 shares, the existing total production capacity will reach 10.6 million tons, the project will have a capacity of 2.4 million tons, and the newly built production capacity will reach 6.2 million tons.
On February 4th this year, Ural and Slivenitt held separate special shareholders’ meetings. The shareholders of both parties passed the “two-potassium†merger proposal with 98.9% and 90.9% of the votes. At the end of February, Ural Potash purchased 20% of the common shares of West Litt. In the following months, the two sides made arduous efforts on the form of merger, government approval, and international recognition. On June 15, the Federal Financial Markets Authority approved that the new company can issue shares, and the two companies added new shares and issued earlier issues. The stock will not be affected and it will continue to trade. According to the agreement between the parties, the combined West Lilly shareholders have the right to participate in the general meeting of shareholders held on June 29, participate in the new board elections, and participate in the dividend after the approval of the annual general meeting of the Urals.
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