THE SHARES OF PJSC TOGLIATTIAZOT CANNOT BE FORECLOSED
PJSC Togliattiazot (TOAZ) informs that the court case is being heard before the High Court of Ireland brought by four companies – shareholders of PJSC Togliattiazot against several defendants including, amongst others, the minority shareholders of PJSC Togliattiazot such as JSC United Chemical Company Uralchem (UCCU) and Yevgeny Sedykin, leadership of UCCU Dmitry Mazepin and Dmitry Konyaev as well as the major holding entity of UCCU Group – Cypriot company Uralchem Holding PLC. The action for damages is taken in the amount of 2 billion US dollars, caused by conspiracy to defraud the shares of TOAZ.
On 27 June 2019, the High Court confirmed the obligation assumed by JSC United Chemical Company Uralchem not to execute itself and by no means enable execution by other entities, using any assets (including the shares of Togliattiazot PJSC) of the claimants – shareholders of TOAZ, of any sentence by the Komsomolsky District Court of Togliatti in criminal case No. 1-53/2018 against former leadership of PJSC Togliattiazot as well as Ameropa AG and Nitrochem Distribution AG charged with the crime provided for by Part 4, Article 159 of the Criminal Code of the Russian Federation, with respect to the civil action entered by UCCU in this criminal case, or any other act of court related to these civil actions.
It is worth reminding that PJSC Togliattiazot is recognized as victim in the criminal case currently being heard by the Komsomolsky District Court of Togliatti despite the multiple statements of the management and representatives of the enterprise on the absence of any damage. PJSC Togliattiazot is not a participant of any legal proceedings in Ireland.
PJSC TOAZ has published its financial performance figures for the 1st half of 2020.
PJSC TOAZ has received a letter from the lawyers of its majority shareholders informing of the decisions that the High Court of Ireland had taken within the case that involved PJSC TOAZ shareholders and is being heard by the Court. In order to inform the public, we publish the bullet points from the letter.
TOAZ PJSC continues construction of the third urea plant, constituting one of the key investment projects of the Russian chemical industry.