REG - MHP SE - EFFECTS OF THE RUSSIAN INVASION INTO UKRAINE

MHP SEAnnouncement

28/02/2022 07:00

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RNS Number : 9394C  MHP SE  27 February 2022

 

 

 

 

 

27 February 2022, Limassol, Cyprus

MHP SE

 

OPERATIONAL UPDATE - EFFECTS OF THE RUSSIAN INVASION INTO UKRAINE

 

MHP SE, the parent company of an international food and agricultural group
with headquarters and principal operations in Ukraine ("MHP", "The Company" or
"The Group"), has been impacted by the invasion of Russian armed forces into
the territory of Ukraine in recent days.

 

The military invasion of Ukraine by Russian forces began at 5 am on 24(th)
February. This has led to full-scale war across Ukraine. Russian invaders have
blatantly disregarded civilian lives and opened fire on hospitals full of
injured and elderly people as well as houses full of unarmed people, holding
their children's hands, seeking shelter from the fighting. Human lives,
including those of the elderly and children, have sadly been lost.

 

MHP employs more than 26,000 people in Ukraine and supplies approximately
400,000 tonnes of chicken meat to the Ukrainian market annually, representing
around half of all chicken produced commercially for the domestic market.

 

Today, MHP has determined two priorities: first, to ensure the safety of all
its heroic workers and second, to ensure that all the Group's facilities
continue to work to try to fulfil National Food Security requirements.

 

The safety and security of our workers and their families is of utmost concern
to us. Where necessary and possible, we are ensuring their relocation to safe
areas and will provide financial support as necessary.

 

MHP, like all Ukrainian companies, has encountered significant difficulties
with its supply chain. Ukrainian roads are currently dangerous, especially in
the active zones. There have been highly reliable reports that military
vehicles are shooting without any regard for civilian lives, even at trucks of
food supplies vital for the survival of Ukrainian women and children. Many
trade channels have ceased operation due to the threat from Russian forces.
The Company is therefore seeking alternative ways to deliver these vital
supplies to the needy. The Company is also pledging unconditional and free
deliveries to all our valiant defenders as well as hospitals, communities and
all who are facing difficult conditions where it is even remotely in the
Company's power to deliver.

Needless to say, because of the damaged supply routes, the Company is
currently unable to export any Ukrainian produce.

 

Inevitably, this is causing the Company to incur significant unplanned losses.

As the valiant Ukrainian defenders put their lives at risk to resist the
Russian aggressor, MHP will continue to fight hard to ensure the safety of its
employees. In order to ensure the National Food Security of Ukraine, MHP's
production will not cease.

 

The Group will make a further announcement as and when appropriate.

 

 

Dr John Rich

Executive Chairman

 

 

 

 

 

 

 

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