The Board of Directors of Myronivsky Hliboproduct (MHP), the largest poultry producer in Ukraine, has approved the payment of interim dividends in the amount of $0.7492 per share, which is equal to $80 million. According to a company report on the London Stock Exchange (LSE) on Thursday, the decision was made after having carefully considered the performance of the company during the financial year 2017 and two months period ended February 28, 2018.
MHP said that the interim dividend will be paid on April 26, 2018 to the company’s shareholders whose name is entered in its register of members as of April 20, 2018. The Board of Directors approved that no dividend will be paid on the company’s shares held in treasury.
The Board of Directors of MHP SE also acknowledged the consent of WTI Trading Limited (the Company’s major shareholder) to be paid later than the dividend payment date (but not later than November 01, 2018) with no interest accrued on the amount of dividend paid later.
As reported, MHP increased its net profit 3.3-fold in 2017 compared to 2016, to $230 million with revenue growth of 13.4% to $1.288 billion.
Myronivsky Hliboproduct (MHP) agroholding after a tender offer to buy notes due on April 2, 2020 received applications for the securities worth $416.183 million, the company reported on the London Stock Exchange (LSE) on Monday.
According to the report, currently the company has outstanding 2020 notes in aggregate principal amount of $495.6 million.
MHP said that following the early tender deadline the notes in aggregate principal amount of $409.783 million were tendered. On or before the expiration deadline the notes in aggregate principal amount of $6.4 million were tendered.
On or about 10 April 2018, on the terms and subject to the conditions in the tender offer memorandum, noteholders who validly tendered following the early tender deadline and on or before the expiration deadline will be paid the tender offer consideration of $1,065 per U.S.$1,000 principal amount plus the accrued interest amount.
The aggregate principal amount of Notes outstanding following completion of the tender offer is $79.417 million.
Myronivsky Hliboproduct (MHP) is ready to invest EUR 76 million in the partial restoration of Doux Group suffering economic difficulties, the press service of the agricultural holding has told Interfax-Ukraine.
According to the press service, at present the French chicken producer LDC and the Ukrainian agroholding MHP are simultaneously negotiating the purchase of the French food processing company Doux.
MHP said it had submitted a “mandatory offer for the partial restoration” of Doux. In particular, the holding proposes to invest EUR76 million in the construction of a new plant in Chateaulin (France) within two years and modernize other facilities.
In addition, MHP is ready to change the strategy, in particular, to abandon production of frozen products for exports, replacing them with fresh ones for the French market.
As reported, MHP on March 9, 2018 filed documents to the industry restructuring committee of France (Comité Interministériel de Restructuration Industrielle) for the restoration of Doux Group suffering economic difficulties. MHP estimates the amount of required investments to restore the group at EUR 150 million, while requiring that at least EUR70 million be compensated at the expense of state subsidies.
