A/S Trigon Agri: Announcement of proposed capital raising

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Trigon Agri is pleased to announce that further to the share capital increase approved at the Extraordinary General Meeting of the Company on March 17, 2008, Credit Suisse and SEB Enskilda have been appointed to act as Joint Global Coordinators and Joint Bookrunners to work on the preparation of a proposed capital raising. The offering is targeting a deal size of approximately EUR 200 million.

The Company has recently announced significant developments which provide the base for the growth plans which are to be financed from the proceeds of the offering:
1. As announced on March 31, 2008, the Company already controls in excess of 120,000 hectares of farmland.
2. As announced on April 3, 2008, the Company now owns five separate grain storage elevators in Ukraine with a total grain storage capacity of 322,000 tonnes.
3. As announced on April 7, 2008, the Company has entered into an agreement to establish a joint venture trading company with Ramburs Group (internationally known as United Grain, a leading Ukrainian grain trader). Trigon Agri will own 51% of the joint venture, which will take over all existing grain trading and storage management activities of Ramburs Group, with Ramburs Group holding the remaining 49%.

Trigon Agri’s distinct business model is to continue growing as an integrated agriculture business operating in the former Soviet Union with activities ranging from the production of agricultural produce to the storage of both its own and third party grain and finally to servicing the end customers via it’s grain trading activities, when the Joint Venture company becomes operational. Trigon Agri aims to control up to 450,000 hectares of farmland by 2010.

Although detailed preparations have commenced, no decision has been taken regarding the final size and timing of launch of the capital raising.