EBRD Loan

RNS Number : 3060B

Ukrproduct Group Ltd

15 June 2016

 

FOR IMMEDIATE RELEASE                                                                                       June 15, 2016

STATEMENT RE: UKRPRODUCT GROUP LIMITED AND EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT LOAN ("EBRD")

Ukrproduct Group Limited (AIM: UKR), one of the leading Ukrainian producers and distributors of branded dairy foods and beverages (kvass) announces that on June 10, 2016  it 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 and expect to finalise documentation shortly.

For further information contact:

Ukrproduct Group Ltd
Jack Rowell, Non-Executive Chairman		Tel: [phone]
Alexander Slipchuk, Chief Executive Officer		www.ukrproduct.com
ZAI Corporate Finance Ltd.
Nominated Adviser and Broker Peter Trevelyan-Clark, Jamie Spotswood	Tel: [phone] www.zaicf.com

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 13.5 million as at June 30, 2015 and consolidated revenues of approximately GBP 9.8 million for the six months ended June 30, 2015. 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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