Ukrproduct Regulatory News (UKR)

29 Aug 2008 14:14



August 29, 2008 

CANCELLATION OF OPTIONS

Kiev, Ukraine - August 29, 2008 - Ukrproduct Group ("Ukrproduct" or the "Group") (AIM: UKR), a leading producer and distributor of branded dairy products in Ukraine, today announced that  David Lattimore, who previously served as Non-Executive Director, has relinquished 130,290 share options in exchange for the agreed compensation. These share options have been cancelled.

Furthermore, 234,299 share options that were previously granted to Iryna Yevets, former Chief Executive Officer, have lapsed and ceased to be exercisable.

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For further information, please visit www.ukrproduct.com or contact: 

Ukrproduct Group Ltd is a leading Ukrainian producer and distributor of branded dairy products. The Group's product portfolio includes processed and hard cheese, skimmed milk powder (SMP) and butter. Ukrproduct has built a range of recognisable product brands, well known and highly regarded by consumers ("Our Dairyman", "People's Product", "Creamy Valley", Molendam", "Farmer's"). The Group has modern production facilities that comprise four dairy plants in western and central regions of Ukraine (Molochnik, Starokonstantinovskiy Dairy Plant, Zhmerinka Plant and Letichiv Dairy Plant) with a total annual integrated capacity of approximately 70,000 tons of dairy products. Ukrproduct has one of the largest logistics and distribution networks which covers eight major cities of Ukraine with its own fleet of 266 vehicles. The Group reported total assets of approximately GBP 23.7 million as at December 31, 2007 and consolidated revenues of approximately GBP 48.1 million for the full year of 2007. Ukrproduct's securities are traded under the symbol "UKR" on AIM, a market operated by the London Stock Exchange.