Last checked at 14 Jul 2010 11:03
PRESS RELEASE
July 14, 2010, Kyiv, Ukraine
MHP S.A.
Award of Bonus
MHP (LSE: MHPC) ("MHP" or the "Company") announces that on 13 July 2010 the Board of Directors approved the award of a special bonus to Yevhen Shatokhin, Director of Sales and Marketing, in recognition of the significant contribution he has made to the Company's recent growth . The pre-tax value of the bonus is approximately US$ 7,700,000. This bonus has been paid in the form of 455,000 Global Depositary Receipts ("GDRs") (representing 0.4% of the share capital of the Company). The after tax value of the bonus represented by these GDRs is approximately US$ 6,500,000 based on the closing market price of the GDRs 14.25 on 13 July 2010.
The Company has in place a Share Buy Back Programme with a view to providing GDRs for its incentive programmes. The 455,000 GDRs awarded to Mr. Shatokhin are a portion of the GDRs recently re-purchased by the Company in accordance with the Share Buy Back Programme (as previously disclosed to the market) and these will be transferred to a company controlled by Mr. Shatokhin.
For further information please contact:
| Financial Dynamics Ben Foster (London) Marc Cohen (London) Leonid Solovyev (Moscow)
For investor relations enquiries Anastasiya Sobotyuk (Kyiv)
| London: +44 20 7831 3113 Moscow: +7 495 795 06 23
Kyiv: +38 044 207 99 55 a.sobotyuk@mhp.com.ua |