Yara Provides Update to Its Percentage Holdings in Belgravia Capital
TORONTO, March 12, 2018 (GLOBE NEWSWIRE) -- Yara International ASA announces that as a result of certain recent issuances of common shares ("Common Shares") in the capital of Belgravia Capital International Inc. ("Belgravia", formerly IC Potash Corp.), in which it did not participate, the securityholding of its wholly-owned subsidiary Yara Nederland B.V. ("Yara") of 30,129,870 Common Shares has been diluted to approximately 7.4% of the currently outstanding Common Shares.
Since Yara acquired its 30,129,870 Common Shares, the number of outstanding Common Shares has increased through a number of share issuances. Most recently, following a non-brokered private placement by Belgravia on or about January 12, 2018 of an aggregate of 133,990,000 Common Shares and certain other recent issuances of Common Shares, Yara's interest has decreased from approximately 12.7% in late November 2017 to 7.4%.
Yara will continue to monitor the business, prospects, financial condition and potential capital requirements of Belgravia. Depending on its evaluation of these and other factors, Yara may from time to time in the future increase or decrease its direct or indirect ownership, control or direction over the Common Shares or other securities of Belgravia through market transactions, private agreements, subscriptions from treasury or otherwise.
For further information, including a copy of the corresponding report filed with Canadian securities regulators, contact:
Yara International ASA
Drammensveien 131
0277 Oslo, Norway
Thor Giæver, Head of Investor Relations
Office: (+47) 24 15 72 95
Mobile: (+47) 480 75 356
E-mail: [email protected]
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