REG - Ukrproduct Group Ltd - Amendment to OTP Bank Loan Agreement <Origin Href="QuoteRef">UKR.L</Origin>

UkrproductAnnouncement

26/06/2017 18:05

RNS Number : 2137J
Ukrproduct Group Ltd
26 June 2017
FOR IMMEDIATE RELEASE  June 26, 2017
AMENDMENT TO OTP BANK Loan AGREEMENT
Further to the announcements made earlier today and on 9 June 2017, the Company is pleased to confirm receipt today of a variation to the loan agreement with OTP Bank, originally issued on 30 May 2011, under which the principal loan repayment date has been further extended to 09 September 2017. All other principal terms of the loan agreement remain unchanged. The principal amount outstanding under the loan remains Ukrainian Hyrvnia (UAH) 32.3 million.
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, John Treacy
Tel: +44 20 7060 2220
www.zaicf.com


This announcement contains information which was previously inside information forthe purposes of Article 7 of the Market Abuse Regulation EU Regulation 596/2014.
UkrproductGroupLtdisoneoftheleadingUkrainianproducersanddistributors ofbrandeddairyproductsandkvass,atraditional fermentedbeverage.TheGroup's product portfolioincludes processedandhardcheese,packagedbutter,skimmedmilk powder (SMP)andkvass.Ukrproduct has built arange ofrecognisable product brands ("Our Dairyman","People'sProduct", "CreamyValley", "Molendam","Farmer's")that are wellknownandhighlyregardedbyconsumers.TheGroupreported unaudited consolidated total assets of approximately GBP 13.8 million as at June 30, 2016and unaudited consolidated revenues of approximately GBP 8.2 million for the six months then ended. In its full year ended 31 December 2015, the Group reported audited revenues of approximately GBP 20.2 million. Ukrproduct's securities are traded under the symbol "UKR"onAIM,amarketoperatedbytheLondon StockExchange.
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.

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