Moscow, Russia – September 16, 2008 – URALCHEM, OJSC (“URALCHEM” or the “Company”), one of the largest producers of nitrogen and phosphate fertilizers in Russia and the CIS, today announced the results of the Extraordinary General Meeting of Shareholders (EGM) held on September 16, 2008.
The shareholders approved the following decisions: to terminate the powers of the members of the Board of Directors early and to elect the members of a new Board of Directors.
The shareholders elected the following persons to the Board of Directors:
1. John M. Van Brunt;
2. Anton V. Vishanenko;
3. Mikhail V. Genkin;
4. Sergey A. Drinevskiy;
5. Dmitry V. Konyaev;
6. Dmitry A. Mazepin;
7. Dmitry V. Osipov;
8. Paul J. Ostling;
9. Dimitry V. Tatyanin.
John Van Brunt was elected as the second independent Non-Executive Director of the Board. John Van Brunt will head the Strategy and Development Committee of the Board of Directors of URALCHEM, OJSC. Compared to the previous composition, the number of members on the Board of Directors remains the same.
In addition, the Company’s shareholders approved the decision to offer remuneration to the Members of the Board of Directors of the Company.
Dmitry Mazepin commented: “We welcome John Van Brunt to the URALCHEM Board. As a Director, President and CEO of one of the largest global fertilizer companies, based in Canada, John acquired unique professional experience and an impeccable reputation. John will head the Strategy and Development Committee, which will be responsible for making recommendations to the Board of Directors on the priorities, strategic goals and key principles for the development of our Company. In addition, the Committee will offer advice on our investment policy and how to make the Company’s more attractive to investors”.
John Van Brunt added: “I am very grateful to URALCHEM for their confidence and the chance to become member of the Board of Directors as Head of the Strategy and Development Committee. URALCHEM is one of the largest and rapidly developing companies on both the Russian and the global mineral fertilizer markets. I hope that my knowledge and expertise will be useful to reach the Company’s goals and secure promising development in the future”.
John Van Brunt was born in 1942. Mr. Van Brunt is a graduate of Queen’s University (Canada) with a specialization in chemical engineering. Mr. Van Brunt has over 40 years of managerial experience in the industry.
From 1965 to 2003 Mr. Van Brunt worked for Cominco Ltd., Agrium Inc., Canada, where he sequentially held the following positions: Vice-President Operations, Chief Operating Officer, Chief Executive Officer. While being managed by Mr. Van Brunt, the Company demonstrated significant growth, expanding its geography and product portfolio, increasing wholesale and retail sales and modernizing its production assets. Mr. Van Brunt initiated Agrium’s international expansion and headed the establishment of the Company’s first joint venture in Argentina.
Since 2005 Mr. Van Brunt has been a member of the Board of Directors and a Head of Remuneration Committee at Spur Ventures, which is engaged in phosphate rock mining and the production of phosphate fertilizers in China.