The Board of Agrokultura cancels the EGM and gives further comments to new ownership situation

In light of the new ownership situation in Agrokultura, its Board has decided to cancel the EGM summoned to be held on August 14 to approve an increased issue mandate. For the same reason, the existing mandate will not be used in order to issue new shares ahead of that EGM.

The new major owner in Agrokultura, Steenord Corp, yesterday announced an increased holding totalling approximately 36.8% pursuant to the mandatory bid rules that apply on First North. Subsequent block trades were made during yesterday which gives a new current total of 46.59%, according to a press release from Steenord (see appendix below).

Based on the dialogue so far with the new major owner, the Board looks positively on Steenord's intentions for Agrokultura and on Steenord's statement under the mandatory bid rules which shows the Steenord intends to comply with these rules. Further comments will be provided by Agrokultura's Board as and when called for.

Stockholm on 8 August 2014

The Board of Directors

For additional information, please contact:

Investor Relations, tel. +44 203 427 3983


Appendix, press release from Steenord, 7 August (in Swedish):

Steenord har ökat sitt innehav i Agrokultura till 46,59 procent, vilket föranleder budplikt

TO, AUG 07, 2014 21:46 CET

PRESSMEDDELANDE


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Steenord Corp (“Steenord”) var den 7 augusti 2014 ägare av 51,143,297 aktier i Agrokultura AB (publ) (“Agrokultura”), och har den 7 augusti 2014 förvärvat 13,621,767 aktier i Agrokultura, som är listat på NASDAQ OMX First North, varefter Steenord innehar 64,765,064 aktier i Agrokultura. Steenords aktieinnehav i Agrokultura har därmed ökat från omkring 36,79 procent av aktierna och rösterna till omkring 46,59 procent av aktierna och rösterna. Därmed är Steenord är skyldigt att lämna ett så kallat budpliktsbud till samtliga aktieägare i Agrokultura.

Steenord avser att inom fyra veckor återkomma med besked om ett eventuellt budpliktsbud avseende resterande aktier i Agrokultura. Om ett sådant budpliktsbud lämnas kommer det erbjudna priset att uppgå till 4,50 kronor per aktie, vilket motsvarar det högsta pris som Steenord har betalat under den senaste sexmånadersperioden.

STEENORD CORP 
Sea Meadow House, Blackburne, Highway, PO Box 116, Road Town, Tortola, British Virgin Islands

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.

About Us

Alpcot Agro is a Swedish limited liability company and was incorporated in 2006. The company's prime objective is to generate an attractive total return on invested capital by acquiring and farming agricultural land in Russia and potentially in other CIS member states.

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