REG - Ukrproduct Group Ltd - EBRD Loan <Origin Href="QuoteRef">UKR.L</Origin>

UkrproductAnnouncement

15/06/2016 14:50

RNS Number : 3060B
Ukrproduct Group Ltd
15 June 2016
FOR IMMEDIATE RELEASE  June 15, 2016
STATEMENT RE:UKRPRODUCT GROUP LIMITED ANDEUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT LOAN ("EBRD")
Ukrproduct Group Limited (AIM: UKR), one of the leading Ukrainian producers and distributors of branded dairy foods and beverages (kvass) announces that on June 10, 2016 it made another interest payment under the terms of its loan agreement with the European Bank for Reconstruction and Development ("EBRD")dated March 31, 2011 (the "Loan Agreement") and subsequent restructuring terms.
EBRD and the Company are in the process of amending the Loan Agreement based on the revised terms as announced on 15 December 2015 and expect to finalise documentation shortly.
For further information contact:
Ukrproduct Group Ltd
Jack Rowell, Non-Executive Chairman
Tel: +380 44 232 9602
Alexander Slipchuk, Chief Executive Officer
www.ukrproduct.com
ZAI Corporate Finance Ltd.
Nominated Adviser and Broker
Peter Trevelyan-Clark, Jamie Spotswood
Tel: +44 20 7060 2220
www.zaicf.com
Ukrproduct Group Ltd is one of the leading Ukrainian producers and distributors of branded dairy products and kvass, a traditional fermented beverage. The Group's product portfolio includes processed and hard cheese, packaged butter, skimmed milk powder (SMP) and kvass. Ukrproduct has built a range of recognisable product brands ("Our Dairyman", "People's Product", "Creamy Valley", "Molendam", "Farmer's") that are well known and highly regarded by consumers. The Group reported total assets of approximately GBP 13.5million as at June 30, 2015and consolidated revenues of approximately GBP 9.8 million for the six months ended June 30, 2015. Ukrproduct's securities are traded under the symbol "UKR" on AIM, a market operated by the London Stock Exchange. 
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of the Group. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might" the negative of such terms or other similar expressions. These statements are only predictions and they may differ materially from the actual events or results. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in such projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Ukraine, rapid technological and market change in our industry, as well as many other risks specifically related to the Group and its operations.

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