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Ex-president of ALROSA Andreev sold the entire stake in the company

Former president of ALROSA Fyodor Andreev sold 0,0679% of the company's shares, reducing his participation in the capital to zero, follows from the message of the diamond mining company.

The change in the share of Andreev in the issuer's authorized capital occurred on November 5. The market capitalization of ALROSA on the Moscow stock exchange on 13.09 Moscow time 10 in November was 299,02 billion rubles. Based on the current capitalization, Andreev received approximately 203 million rubles for his package.

Andreev's employment contract was terminated from October 23. Andreev decided to leave his post, which he announced at a weekly meeting with the company's management in September. His decision was conditioned by medical circumstances. At the same time, he remains a member of the Supervisory Board of the company. Currently, Acting President of ALROSA is First Vice President of the company Ilya Ryaschin.

Earlier in August, other top managers of the company also withdrew from the authorized capital of ALROSA. Thus, the Vice-President for Finance, Igor Kulichik, and the Vice-President for activities of subsidiary companies, Sergey Pushkin, sold 0,01358% and 0,021% shares, respectively.

ALROSA is engaged in the exploration, extraction, production and sale of diamonds and is the world's largest producer of carat diamonds. It conducts production in Yakutia and the Arkhangelsk region. In 2013, the ALROSA group produced 36,9 million carats of rough diamonds. The net profit of the ALROSA group under IFRS last year fell by 5% - to 31,8 billion rubles.

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