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13 Jan 2011 12:42
13 January, 2011
AVANGARDCO INVESTMENTS PUBLIC LIMITED
KYIV, UKRAINE - AVANGARDCO INVESTMENTS PUBLIC LIMITED (LSE: AVGR) ( "Avangard"), the leading producer of shell eggs and egg products in Ukraine, today announces the repayment of all of its indebtedness to Public Joint-Stock Company Commercial Bank Finansova Initsiatyva by using some of the proceeds of the recent Notes issuance. Avangard has also withdrawn all deposits held with this bank. The Company redeemed the loans and withdrew the deposits prior to the date prescribed in the Eurobond covenants (31 January 2011).
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For further information please contact:
Financial Dynamics London Ben Foster Marc Cohen Hazel Stevenson
+44 20 7831 3113
| Financial Dynamics 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.
- 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 2009 The Company generated revenues of USD $319.855 million (2008: USD $302.292 million), EBITDA of USD $152.092 million (2008: USD $113.738 million).
- Since May 2010 Avangard's shares are listed on the Main Market of London Stock Exchange.
- In October 2010, Avangard issued $200m 10% Notes maturing 29 October 2015.
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