"Continental Farmers Group plc"

RNS Number : 0183J

Origin Enterprises Plc

23 June 2011

 



                                                          Origin Enterprises plc                         

23 June 2011

Continental Farmers Group plc

Origin Enterprises plc ('Origin' or 'The Group') is very pleased with the announcement earlier today by Continental Farmers Group plc ('Continental' or 'The Company') of its impending flotation on the Dublin and London Stock Exchanges (ESM and AIM respectively).

Continental is a highly focused, diversified and large scale producer of agricultural crops operating in Western Ukraine and Northern Poland. Origin became a strategic shareholder in the Company in 2008 to support the expansion of the farming operations in Ukraine and to provide geographic extension opportunity for the Group's technologies and services.

Continental has raised €16.7m to fund its development program. Origin has retained a shareholding of 24.2% in the enlarged business following the fundraising.

Commenting on the announcement Tom O'Mahony, CEO of Origin said:

"The successful listing and fundraising by Continental is a reflection of the attractiveness of the Company's competitive positioning and its proven track record in building profitable and scalable farming operations in Poland and Ukraine.

This fundraising provides Continental with access to appropriate sources of capital for infrastructure development and land expansion. As the largest shareholder in Continental, Origin will continue to support the future expansion of the Company through the transfer of our integrated crop production technologies and on-farm advisory portfolios."

ENDS

Enquiries:

Brendan Fitzgerald,                                                       Tel:       [phone]

Chief Financial Officer             

Origin Enterprises plc

Joe Murray                                                                   Tel:         [phone]

Murray Consultants                                                      Mobile: [phone]

About Origin Enterprises plc

Origin Enterprises plc is a focused Agri-Services Group with strategic investments in Consumer Foods and Marine Proteins and Oils.  The Group is listed on the ESM and AIM markets of the Irish and London Stock Exchanges.  The Agri-Services business through its manufacturing and distribution operations in Ireland, the United Kingdom and Poland has leading market positions in the supply of specialist agronomy services, crop nutrition and feed ingredients.

ESM ticker symbol: OIZ           AIM ticker symbol: OGN

Website: www.originenterprises.com

 

END

 

 

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