Agrokultura applied for delisting
According to the official information, released by the company, Agrokultura applied for delisting on December 17, 2014 of the share with Nasdaq First North. Company has not yet released information regarding the last trading day, since it has not received such information from Nasdaq First North, however the date will be announced in a prompt manner. Company stated that the main reason for delisting was acceptance of the Mandatory Offer by Steenord Corp on Agrokultura to its shareholders. Steenord Corp offered SEK 4.50 per share to shareholders, which reflected company’s stock exchange price per share, aiming to acquire 63,816,105 shares in Agrokultura, corresponding to approximately 43.63% of the total number of shares and votes in Agrokultura. The offer has been accepted by the shareholders, effectively making Steenord Corp majority owner of Agrokultura with 91.89% of shares (company previously owned 48.26% of Agrokultura shares). In the process of the offer, Steenord Corp sold 64,793,752 shares to Magna Investments Limited. After completion of the offer, Steenord Corp and Magna Investments Limited held total of 95.83% of company’s shares. Steenord has then distributed all its shares in Agrokultura to its parent company, Salermo S.A., which company is wholly-owned by Nikolay Fartushnyak. Thus, considering the current situation the number of shares in free-float is low and company had no reasons to remain in listed environment, therefore filing for delisting.
UkrAgroConsult has completed review and recommendations study on investing in Ukrainian Agrarian Sector. You can follow this link to find out more about the study “How to profit from Ukraine’s agricultural sector?”. In case you are interested in state of agrarian sector in Ukraine, please follow the link below to read UkrAgroConsult quarterly report “Agrarian Business in Ukraine”. You can subscribe to the report to receive it on a monthly basis. MHP also announced resignation of company’s CEO Yuriy Kosyuk, as new CEO, Yuriy Melnik became new CEO of MHP.