9th Sep 2009 13:11
PRESS RELEASE
September 9, 2009, Kyiv, Ukraine
MHP S.A.
Share buy-back programme
MHP (LSE: MHPC) ("MHP" or the "Company") announces that the Board of Directors at its meeting on 8th September 2009 has approved a share buy-back program (the "Program") to purchase up to 2,769,250 (not exceeding 2.5% of the issued share capital of the Company) of its fully paid up ordinary shares in the form of GDRs listed on the London Stock Exchange. The Program will be carried out over a period not exceeding one year from the date of approval of the Program by a shareholders' meeting of the Company. The Extraordinary General Meeting to consider approval of the Program is scheduled for 5 October 2009.
The Company plans to use some of the shares purchased under the Program for a compensation and incentive program. Non-used shares will be held in treasury until their resale within the next three years.
For further information please contact:
|
Financial Dynamics Ben Foster (London) Marc Cohen (London) Leonid Solovyev (Moscow) |
London: +44 20 7831 3113 Moscow: +7 495 795 06 23 |
For investor relations enquiries:
|
MHP Anastasia Sobotyuk (Kyiv) |
Kiev: +380 44 207 99 58 |
Notes to Editors:
About MHP
MHP was admitted to the Official List of the London Stock Exchange in May 2008. It is the leading producer of poultry products in Ukraine, with a 2008 market share for industrially produced chicken meat of approximately 39%, according to the State Committee on Statistics of Ukraine. It's "Nasha Ryaba" brand is the market leader, whilst MHP also has several other national and regional brands for processed meat products.
MHP is fully vertically integrated owning and operating each of the key stages of chicken production processes, from feed grains and fodder production to egg hatching and grow out to processing, marketing, distribution and sales (including through MHP's franchise outlets). Vertical integration reduces MHP's dependence on suppliers and its exposure to increases in raw material prices. In addition to cost efficiency, vertical integration also allows MHP to maintain strict bio-security and to control the quality of its inputs and the resulting quality and consistency of its products through to the point of sale.
MHP also has an important and expanding grain operation, producing and selling sunflower oil as a by-product of its fodder production. MHP also produces and sells beef, sausages, cooked meats convenience food products, goose meat, foie gras and fruit.
Related Shares:
Mhp Reg S