Business news from Ukraine

ASTARTA BUYS BACK 1,710 SHARES FROM AUG 27 THROUGH AUG 31

Astarta Holding N.V. (the Netherlands), the holding company of Astarta holding, in the period from August 27 through August 31, 2018 bought back 1,710 own shares. The average price was PLN 32.99 per share, according to a posting on the Warsaw Stock Exchange (WSE).
According to the WSE, the Astarta’s shares on September 3, 2018 fell by 1.82%, to PLN 32.40 per share ($1 equals PLN 3.6991 using the exchange rate of the National Bank of Poland as of September 3). As reported, the Board of Directors of Astarta Holding N.V. appointed Poland’s brokerage house, Pekao Investment Banking S.A. a buyback agent to carry out the buyback of the company’s shares under the approved program. The buyback program was launched for the purpose of meeting obligations arising the debt financial instruments exchangeable for or convertible into equity instruments and employee share option programs.
On May 25, 2018, the shareholders in Astarta approved the decision to extend the buyback program for another 18 months (from the date of the holding of the general meeting of shareholders). The company could buy back up to 2.5 million shares (up to 10% of outstanding securities) at the price of no more than PLN 125 per share.
Astarta is a vertically integrated agro-industrial holding operating in Poltava, Vinnytsia, Khmelnytsky, Ternopil, Zhytomyr, Chernihiv, Cherkasy and Kharkiv regions.

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UKRAINIAN RAILROAD COMPANY PLANS TO BUY SEVERAL THOUSANDS OF FREIGHT WAGONS FROM EXTERNAL PRODUCERS IN 2018

PJSC Ukrzaliznytsia by the end of this year plans to buy several thousands of freight wagons from external producers, acting Board Chairman Yevhen Kravtsov has said. “We have already built more than 2,000 wagons at our own plants, and in addition, 500 have been bought by outsourcing. By the end of the year we are planning to buy a few more wagons under an external contract,” Kravtsov said in an interview with Radio NV.
Asked which manufacturers wagons will be bought from, the head of the company said that it would be decided at a tender. He recalled that this year freight gondola cars were purchased from the Kriukov Car Building Works (Poltava Region) and Popasna wagon repair plant (Luhansk region).
He also recalled that this year more than 50 passenger wagons were purchased from the Kriukov Car Building Works.
“It is necessary to update a minimum of 200-300 diesel locomotives and 500-600 electric locomotives within five or seven years,” Kravtsov said.

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CYPRUS-REGISTERED DNIPRO AGRO ALLIANCE PLANS TO BUY SILO FROM SWISS GLENCORE

Dnipro Agro Alliance Ltd. (Nicosia, Cyprus) plans to acquire PJSC Bozhedarivsky Elevator belonged to Renaisco B.V., a subsidiary of Switzerland’s Glencore International. According to the materials of the Antimonopoly Committee of Ukraine, Dnipro Agro Alliance Ltd. applied to the committee for getting permit to buy over 50% in Bozhedarivsky Elevator.
Dnipro Agro Alliance Ltd. Plants grain, leguminous crops and oilseeds. The ultimate beneficiaries of the company are co-owners of Dnipro Agro Group Mykhailo Koshliak, Yevhen and Vasyl Astion. Dnipro Agro Group is a vertically integrated group of companies, the core business of which is the production, storage, sale of grain and oilseeds.

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AVERS INSURER TO BUY OUT 75% OF ITS SHARES

Shareholders of PRJSC Avers Insurance Company (Kyiv) at a meeting on July 20 decided to buy out 15,000 shares of the company (75%) for their further cancellation, according to the insurer’s official statement. An independent valuation of the shares determined their price at UAH 2.6 each with a nominal value of UAH 1,000.
The buyout of the shares will take place from September 23 to December 28, 2018.
According to the company, at the time of this decision, its shareholders were BASK Ltd. (22.85%), members of the supervisory board, Daniil Volynets (65%) and Serhiy Bilohortsev (5.15%).
PrJSC Avers was registered in 2007. It provides risk insurance services.
Its charter capital is UAH 20 million.

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MHP RECEIVES APPLICATIONS TO BUY 84% OF 2020 EUROBONDS

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.

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