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

UkrproductAnnouncement

02/04/2015 17:20

RNS Number : 3873J
Ukrproduct Group Ltd
02 April 2015
02 April 2015
Ukrproduct Group Ltd
("Ukrproduct" or the "Group")
Statement re: European Bank for Reconstruction and Development Loan ("EBRD")
Ukrproduct(AIM: UKR), one of the leading Ukrainian producers and distributors of branded dairy foods and beverages (kvass), announces that it has not made the principal amount payment of EUR 300 thousand due in March 2015 under the terms of its Loan Agreement with the European Bank for Reconstruction and Development dated March 31, 2011. The omission was caused by more them three-fold hryvnia devaluation. Ukrproduct is in negotiations with EBRD to vary the terms of the loan and anticipates reaching agreement in the next two months. Publication of the Company's annual results for the year ended 31 December 2014 will follow the successful conclusion of these negotiations.
For further information contact:
Ukrproduct Group Ltd

Jack Rowell, Non-Executive Chairman
Tel: +380 44 232 9602
Sergey Evlanchik, Chief Executive Officer 
www.ukrproduct.com 
ZAI Corporate Finance Ltd.

Nominated Adviser and Broker
Richard Morrison, Irina Lomova 
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 21.1 million as at June 30, 2014 and consolidated revenues of approximately GBP 17.2 million for the six months ended June 30, 2014. 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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