|STATEMENT RE: UKRPRODUCT GROUP LIMITED AND EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT LOAN (“EBRD”): Latest news
15 December 2015
Ukrproduct Group Limited (AIM: UKR), is one of the leading Ukrainian producers and distributors of branded dairy foods and beverages (kvass).
Ukrproduct Group Limited is pleased to announce that following business review and negotiations with European Bank for Reconstruction and Development (“EBRD”) the restructuring terms for the loan were agreed subject to the finalized documentation. The terms include extension of the maturity date from 10 December 2018 to 1 December 2024 and a 12 month capital repayment holiday. In considering such terms the sides considered both the Company’s performance and market conditions in Ukraine. The Company expects completion of the restructured documentation (based on the agreed terms) in due course and is looking forward to continue its partnership with EBRD.
Ukrproduct has also made the interest payment due in December according to the new terms.
For further information contact:
Ukrproduct Group Ltd
Jack Rowell, Non-Executive Chairman
Sergey Evlanchik, Chief Executive Officer
Tel: +380 44 232 9602
ZAI Corporate Finance Ltd.
Nominated Adviser and Broker
Richard Morrison, Irina Lomova
Tel: +44 20 7060 2220
Ukrproduct Group Ltd is one of the leading Ukrainian producers and distributors of branded dairy products and kvass, a traditional fermented beverage. The Group’s product portfolio includes processed and hard cheese, packaged butter, skimmed milk powder (SMP) and kvass. Ukrproduct has built a range of recognisable product brands (“Our Dairyman”, “People’s Product”, “Creamy Valley”, “Molendam”, “Farmer’s”) that are well known and highly regarded by consumers. The Group reported total assets of approximately GBP 17.7 million as at December 31, 2014 and consolidated revenues of approximately GBP 31.9 million for the twelve months ended December 31, 2014. Ukrproduct’s securities are traded under the symbol “UKR” on AIM, a market operated by the London Stock Exchange.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of the Group. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might” the negative of such terms or other similar expressions. These statements are only predictions and they may differ materially from the actual events or results. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in such projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Ukraine, rapid technological and market change in our industry, as well as many other risks specifically related to the Group and its operations.