Agrokultura AB (publ) has resolved on a directed share issue against payment through set-off of claims to holders of promissory notes

The board of directors of Agrokultura AB (publ) has today, pursuant to an authorization granted by the annual general meeting 2014, resolved on a directed share issue against payment through set-off of claims whereby the company’s share capital may increase with not more than SEK 36,272,355 through the issuance of not more than 7,254,471 new shares. 

As informed in connection with the annual general meeting 2014, the purpose with the proposed authorization was to enable payment through set-off of claims to holders of freely transferable promissory notes issued by the company in accordance with an agreement with Alpcot Capital Management Ltd. The board of directors has deemed it to be in the best interest of the company and its shareholders and has therefore now resolved to make use of the authorization for such purpose. The subscription price, established in accordance with the terms and conditions in the agreement with Alpcot Capital Management Ltd, is SEK 5 per share and the board of directors is of the opinion that the subscription price at least corresponds to the market value. Subscription for the newly-issued shares shall take place within five (5) working days of the date of the resolution to issue new shares (at which time set-off of claims will be effected). However, the board of directors has the right to extend the time period for subscription and payment.

The share capital of Agrokultura today amounts to SEK 695,043,290 divided between 139,008,658 shares, each with a quotient value amounting to SEK 5. The new share issue may therefore entail a dilution of approximately not more than 4.96 per cent of the company’s share capital and total number of votes (percentage calculation based on the maximum number of shares and votes that may be issued divided with the total number of shares and votes after the new issue). The outcome of the share issue will be published after subscription has taken place.

Other                 
This press release contains information which the company is to disclose pursuant to the Financial Instruments Trading Act (1991:980) and/or the Securities Market Act (2007:528). This information was sent for publishing at 08.30 (CET) on Friday 31 October 2014.

For additional information, please contact:
Stephen Pickup, Group Managing Director, tel: +44 782 529 4352
Kristian Shaw, Group CFO, tel: +44 782 529 4356

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG, JAPAN, NEW ZEELAND, SWITZERLAND, SINGAPORE OR SOUTH AFRICA. PLEASE ALSO SEE THE SECTION “IMPORTANT MESSAGE” BELOW.

IMPORTANT MESSAGE
This press release is not an offer to subscribe for securities in Agrokultura AB (publ). The information set forth herein is for informational purposes only and does not constitute an offer of securities for sale in the United States or any other jurisdiction in which such an offer or solicitation would be unlawful. The securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended, (the “Securities Act”), or the laws of any state, and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. Copies of this press release are not produced and may not be distributed or sent, in whole or in part, directly or indirectly, in, or into, the United States, Canada, Australia, Hong Kong, Japan, New Zeeland, Switzerland, Singapore or South Africa or in, or into, any other jurisdiction where such measure may be unlawful.

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.