Objection to Agrokultura’s announced share issue has been rejected
In light of the planned but not adopted private share issue announced through a press release on 28 July 2014 by the board of Agrokultura, the company’s new major shareholder Steenord Corp, British Virgin Islands, has written an objection through a Swedish lawyer and submitted it to the Swedish Companies Registration Office. Steenord Corp has thereby claimed that such a share issue would not be in accordance with the resolution taken by the Annual General Meeting regarding the mandate given to the board of directors to issue shares and would therefore be invalid.
Therefore, the board of Agrokultura has obtained a legal opinion from Professor Erik Nerep. The legal opinion confirms the assessment of the board that the planned private share issue unreservedly is in accordance with the mandate given by the Annual General Meeting and thus will be valid. The legal opinion in its entirety will be submitted by Agrokultura to the Swedish Companies Registration Office and to those who have a cause to see it.
Stockholm on 4 August 2014
For additional information, please contact:
Investor Relations, tel. +44 203 427 3983
About Agrokultura AB (publ)
Agrokultura invests in farmland and produces agricultural commodities in Russia and Ukraine. The Group aims to generate an attractive return on invested capital by optimally utilizing its agricultural land bank through crop production, livestock and related operations. Shares in Agrokultura are listed in Sweden on the Nasdaq OMX First North exchange under the ticker AGRA and the Group’s Certified Adviser is Remium Nordic AB.