29 Apr 2016 10:16
29 April 2016
AVANGARDCO INVESTMENTS PUBLIC LIMITED
BOARD CHANGES AND NEW CEO APPOINTMENT
Кyiv, Ukraine - AVANGARDCO INVESTMENTS PUBLIC LIMITED (LSE: AVGR) (the "Company" or "AVANGARDCO IPL"), the largest producer of shell eggs and egg products in Ukraine and number one producer in Europe, announces the following changes to the Board of Directors (the "Board"), with immediate effect. Oleg Bakhmatyuk, the Company's founder, will become Chairman of the Board replacing Nataliya Vasylyuk, who will retake the position of Chief Executive Officer of AVANGARDCO IPL. She will remain on the Board of Directors.
Oleg Bakhmatyuk, Chairman of the Board of Directors of AVANGARDCO IPL, commented:
"Under the new leadership structure, AVANGARDCO IPL's focus will be on ensuring the Company's profitability, as well as improving its operational processes and financial position. We stay committed to fulfilling our obligations to our investors, creditors and partners.
"As Chief Executive Officer, Nataliya Vasylyuk will continue to execute the Company's strategy whilst navigating the business through this challenging period of the continued political crisis and military conflict in Eastern Ukraine, which has led to the loss of some of the Company's assets. She will also focus on strengthening the Company's position in the domestic market, as well as on expanding its share in the existing and entering new export markets.
"I believe this change will bring about some positive developments for AVANGARDCO IPL in the future."
Oleg Bakhmatyuk founded AVANGARDCO IPL and served as the Chairman of its Board of Directors between 2010 and 2013, remaining on the Board after this time.
Nataliya Vasylyuk joined AVANGARDCO IPL as CEO in 2007 during which time the Company listed on the London Stock Exchange. She became a board member in April 2010 and has been the Chair of the Board since 30 January 2013.
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For investor's inquiries: Valeriya Nikitina AVANGARDCO IPL Investor Relations Manager phone: +38 044 393 40 50 mob.: +38 067 223 46 88 e-mail: ir@avangardco.ua
| FTI Consulting London Elena Kalinskaya / Nicola Krafft phone: +44 (0) 20 3727 1000 e-mail: avangard@fticonsulting.com
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Information for editors
AVANGARDCO IPL is one of the largest agro-industrial companies in Ukraine, specialising in the production of shell eggs and dry egg products. As at 31 December 2015, the Company holds a 35% share of the industrial shell egg market and a 80% share of the dry egg product market in Ukraine. The Company's laying hens flock is one of the largest globally.
AVANGARDCO IPL has a vertically integrated production cycle. The Company's facilities are located in 14 regions of Ukraine and the Autonomous Republic of Crimea. The Company has 19 laying farms, 3 hatcheries, 10 rearing farms, 6 feed mills, 3 long-term storage facilities and the Imperovo Foods egg processing plant, which is one of the most technologically-advanced facilities for processing eggs in Europe.
The Company exports its products to the Middle East, Africa, Asia, the CIS and EU.
The Company's shares, in the form of Global Depositary Receipts, have been trading on the London Stock Exchange since May 2010. The Eurobond issue for approximately US$200 mln with a maturity on 29 October 2018 was included in the official list of the UK Listing Authority (UKLA) and admitted to trading on a regulated market of the London Stock Exchange on 1 November 2010.
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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 AVANGARDCO IPL. 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. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. 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 our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in the Company's geographical locations, rapid technological and market changes in our industry, as well as many other risks specifically related to AVANGARDCO IPL and its operations.