TIDMUKR

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    www.ukrproduct.com 
 Officer 
ZAI Corporate Finance Ltd. 
Nominated Adviser and Broker         Tel: +44 20 7060 2220 
 Peter Trevelyan-Clark, John Treacy   www.zaicf.com

This announcement contains information which was previously inside information for the purposes of Article 7 of the Market Abuse Regulation EU Regulation 596/2014.

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 unaudited consolidated total assets of approximately GBP 13.8 million as at June 30, 2016 and 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" 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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June 26, 2017 13:02 ET (17:02 GMT)

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