Ukrainian Corporate Governance Rankings

RNS Number : 0559J

Ukrproduct Group Ltd

11 July 2013

 



UKRPRODUCT GROUP LTD

11 July 2013                                                           

Ukrproduct Group LTD ranked in the top five companies in Ukraine for corporate governance based on the study of Concorde Capital

On May 29, 2013 Concorde Capital investment company announced the results of the study 'Corporate Governance in Ukraine - 2013' and updated ratings of corporate governance practices in the Ukrainian listed companies.

The aim of the study was to provide investors with the tools to better understand the corporate governance practices in the Ukrainian companies in order to make sound investment decisions. The project covered 111 companies operating in Ukraine who, issued either shares, or bonds traded on the Ukrainian and international stock exchanges.

According to the study, Ukrproduct Group Ltd was listed among the five companies that received the highest score - 10.0 out of 10.0. The evaluation took place based on ten criteria: audited IFRS financial statements, the quality of reporting, corporate information, ownership structure, the presence of institutional investors, strategic risks, the representation of minority interests in the controlling bodies, management availability, the level of publicity and the quality of the website.

The full version of the report is available on the Company web-site www.ukrproduct.com.

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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 / Katie Ratner Tel: [phone]

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 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 33.7 million as at December 31, 2012 and consolidated revenues of approximately GBP 60.2 million for the twelve months ended December 31, 2012. 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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