FOR IMMEDIATE RELEASE March 14, 2016
Statement re: UKRPRODUCT GROUP LIMITED AND European Bank for Reconstruction and Development Loan ("EBRD")
Ukrproduct Group Limited (AIM: UKR), is one of the leading Ukrainian producers and distributors of branded dairy foods and beverages (kvass) announces that on March 10, 2016 it has made another interest payment under the terms of its loan agreement with the European Bank for Reconstruction and Development ("EBRD") dated March 31, 2011 (the "Loan Agreement") and subsequent restructuring terms.
EBRD and the Company are in the process of amending the Loan Agreement based on the revised terms as announced on 15 December 2015.
For further information contact:
Ukrproduct Group Ltd |
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Jack Rowell, Non-Executive Chairman |
Tel: +380 44 232 9602 |
Sergey Evlanchik, Chief Executive Officer |
www.ukrproduct.com |
ZAI Corporate Finance Ltd. |
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Nominated Adviser and Broker Richard Morrison, Irina Lomova |
Tel: +44 20 7060 2220 www.zaicf.com |
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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.
