Onexim and Uralkhim to increase their stake in Uralkaly

The Board of Directors of one of the world's largest potash producers - Uralkaly – has offered the meeting of the company’s shareholders to repay treasury shares that make up approximately 12.5% ​​of the company’s authorized capital. After that, the stakes of the company’s major shareholders will increase.

The extraordinary meeting of shareholders in the form of absentee voting will take place on July 31st, 2014, the company reported on Tuesday. The shareholders are offered to take a decision on joining the subsidiary Uralkaly Technologia to Uralkaly with repayment of its shares, as well as shares of the parent company, owned by the subsidiary. As a result, the Uralkaly’s authorized capital will decrease by 12.5%.