Changes in management

Agrokultura AB (“the Group”), the owner and operator of farmland with agricultural operations in Russia and Ukraine announces certain management changes in its business.

The following changes have been made in the Group’s Russian business:

- Eduard Gaidar appointed Russia Managing Director. Mr Gaidar was previously Head of Logistics for Russia.

- Torbjorn Karlsson appointed Russia COO. Mr Karlsson was previously Head of Agronomy Russia.

Eduard Gaidar (age 46) has worked with Agrokultura the since 2010. Prior to this he worked as a project manager in a food and dairy business. He also worked for PepsiCo and Gallina Blanca companies involved in starting up their new branch offices in Russia. He holds a university degree in crisis management from Moscow State University of Economics, Statistics and Informatics. He will focus on running the non-farming aspects of the business in Russia. Mr Gaidar lives and works in Voronezh, Russia.

Torbjorn Karlsson (age 38) joined Agrokultura’s Russian business in February 2010 following two years as a production director at Black Earth Farming. Mr Karlsson has MSc in Agronomy from Swedish University of Agricultural Sciences. Prior to moving to Russia, Mr Karlsson worked from 2002 to 2008 as a crop consultant in Farmers’ Cooperative Lantmännen in Sweden. Mr Karlsson is responsible for Russian farming related operations and lives and works in Voronezh, Russia.

Following the resignation of the Deputy Managing Director in December 2013 and following the promotion of Kristian Shaw to Group CFO, both the posts of Deputy Managing Director and Deputy CFO have remained and will remain unfilled. In addition the former roles of the new Russian Managing Director and COO will not be filled.

Stephen Pickup, Managing Director commented:

“I am delighted to welcome Eduard and Torbjorn into their new roles. Both have considerable experience with the company and their appointment will streamline the Russian management team whilst clarifying reporting structures. The ambitious targets we have set for cost cutting require all staff to take on responsibility and I am pleased there is enthusiasm within the business to do this.

I would like to thank Jens Peter Aabyen and Igor Suvorov respectively former Russia Managing Director and Russia COO for their contributions over the past years.”

Stockholm, 15 April 2014

Stephen Pickup, Group Managing Director, tel. +44 782 529 4352
Kristian Shaw, Group CFO, tel. +44 782 529 4356

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.