Directorate Change

RNS Number : 6025V

Ukrproduct Group Ltd

16 December 2013

 



                                                                                                                                  16 December, 2013

DIRECTOR'S RESIGNATION

Kyiv, Ukraine - 16 December 2013 - Ukrproduct Group Limited ("Ukrproduct" or the "Company") (AIM: UKR), one of the leading Ukrainian producers and distributors of branded dairy foods and beverages (kvass), announces that Ms Tetyana Komarova, Chief Financial Officer, has resigned from her position as Director of the Company to pursue other business interests. Her resignation is effective as of 15 November 2013.

An appropriate replacement will be announced in due course.  

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For further information, please visit www.ukrproduct.com or contact:

Ukrproduct Group Ltd. Sergey Evlanchik Chief Executive Officer Tel: [phone] [e-mail]

Cantor Fitzgerald Europe Nominated advisor and Broker Stewart Dickson / Julian Erleigh Tel: [phone] Jeremy Stephenson Tel: [phone]

Ukrproduct Group Ltd is one of the leading Ukrainian producers and distributors of branded dairy foods and beverages (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 has modern production facilities that comprise four dairy plants in western and central regions of Ukraine (Zhytomyr, Starokonstantyniv, Krasyliv and Letychiv) with a total annual integrated capacity of approximately 60,000 tons of dairy products. With its own fleet of more than 200 vehicles, Ukrproduct has one of the largest logistics and distribution networks in Ukraine which covers the country's eight major cities. The Group reported total assets of approximately GBP 35.2 million as at June 30, 2013 and consolidated revenues of approximately GBP 24.7 million for the six months ended June 30, 2013. Ukrproduct's securities are traded under the symbol "UKR" on AIM, a market operated by the London Stock Exchange. 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.

 

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