29 Sep 2010 07:00
| September 29, 2010 | For Immediate Release |
AVANGARDCO INVESTMENTS PUBLIC LIMITED
ESTABLISHES AN OVER-THE-COUNTER TRADED AMERICAN DEPOSITARY RECEIPT PROGRAM
KYIV, UKRAINE - AVANGARDCO INVESTMENTS PUBLIC LIMITED (LSE: AVGR) (the "Company" or "Avangard"), the leading producer of shell eggs and egg products in Ukraine, announces its newly established Over-the-Counter (OTC) traded American Depositary Receipt (ADR) program, with BNY Mellon acting as the depositary bank. Ten Avangard ADR shares represent one Avangard ordinary share. Avangard's Global Depositary Receipt (GDR) program remains unchanged.
On May 6, 2010, Avangard successfully completed an offering of 1,250,000 new ordinary shares in the form of GDRs on the London Stock Exchange, raising $187.5 million. Upon completion of the over-allotment option, 1,387,185 new GDRs were issued, raising the total offering size to $208 million.
For further information please contact:
| FD London Ben Foster Marc Cohen
+44 20 7831 3113
| FD Moscow Leonid Solovyev
+7 495 795 06 23
|
For investor relations enquiries:
Victoria Korolchuk
Avangard
Head of Investor Relations
phone.: +38 044 593 28 60
mob.: +38 067 214 84 23
e-mail: v.korolchuk@avangard.co.ua
Notes to Editors
Information of Avangard
The Company is a holding company for a group (the "Group") that is one of the leading agro-industrial companies in Ukraine, focusing on the production of shell eggs and egg products. Avangard is the number one producer of shell eggs and dry egg products in Ukraine with a market share of approximately 23% (including 39% of industrially produced shell eggs) and 52% respectively in 2009. As of 30 June 2010, Avangard's flock consisted of approximately 18.6 million. birds. Avangard's production facilities are located across 14 regions in Ukraine and also in the Autonomous Republic of Crimea. In 2009 Avangard exported its shell eggs and egg products to 16 countries mainly in the Middle East and Asia. In June-July 2010, Avangard's net profit increased by 86% to US $61.9 million, while its revenue grew by 68% to US $165.9 million. For the first six months of 2010, the Company's total shell eggs output increased by 29% to 1,910 million eggs. Avangard plans to further increase its total egg production to 6.8 billion and the share of export up to 30%.
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