Kharkiv-based agro-industrial group of companies NOVAAGRO Ukraine announced on October 30 that it had completed the acquisition of a 56.9% stake in AgroGeneration S.A., its press service said.
According to the press service, NOVAAGRO completed the over-the-counter acquisition of a total of 126.084 million shares from Konkur Investments Limited (Konkur) at a price of $0.036 per share, which amounted to $4.54 million. The shares were transferred on October 30, 2024.
Following the transaction, the composition of the agricultural holding’s board of directors was changed to reflect the share capital structure. It includes three new members: two executive directors representing NovaAgro, Sergiy Polumysnyi and Volodymyr Krasovskyi, and one non-executive director, Viktor Shkarban.
All previous board members, including Michael Blazer, Lev Blazer, Valery Demu, Neil Sigdu, John Shmorgun and Guillaume James, have resigned from the board.
Mr. Shkarban has been appointed Chairman of the Board of Directors of AgroGeneration, succeeding Mr. Blazer.
“These co-optations, with immediate effect, will be submitted for approval to the next annual general meeting of shareholders of AgroGeneration,” the statement said.
In addition, the new board of directors of AgroGeneration has also appointed Olga Shantyr as CEO with immediate effect. She will replace outgoing CEO Serhiy Bulavin.
