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Award of bonus

14 Jul 2010 11:03

RNS Number : 3307P
MHP S.A.
14 July 2010
 

 

 

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

 

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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