A/S Trigon Agri: Acquisition of Ludmilovskiy Grain Storage Elevator and Change in the Composition of the Board of Directors
A/S Trigon Agri hereby announces that it has completed the acquisition of Ludmilovskiy grain storage elevator, located nearby a regional city of Kirovograd in Ukraine, around 300km South-East from Kiev. The acquisition was completed by a Ukrainian subsidiary of A/S Trigon Agri through a full acquisition of the operational assets of Ludmilovskiy grain storage elevator property complex. The storage capacity of the elevator is 97,600 tonnes and it takes the group’s total elevator storage capacity in Ukraine close to 150,000 tonnes. The elevator is connected to the Ukrainian railroad network through a fully functioning railroad connection. The elevator was purchased from Ramburs Group, Kiev, and the price of the acquisition remains undisclosed in accordance with the agreement between parties.
Launch of operations in the Kirovograd region in Ukraine notes the establishment of the third production cluster for the group in the Black Earth region. The group is currently actively working in Kirovograd area for establishing control over large areas of agricultural land through long-term lease agreements, with a target of setting up a production cluster in the region of at least 50,000ha nearby the storage capacity. Further details on land related information in the Kirovograd, Harkov and Samara clusters will be disclosed by the group prior to the beginning of the 2008 spring field works. The group is currently moving on quicker than originally expected in terms of expanding its production area and the management is targeting to reach over 150,000ha of land under control already during 2H 2008.
Trigon Agri A/S hereby also announces a change in the composition of the Board of Directors. Mr. Tõnis Leetjõe has resigned on his own initiative and has been replaced with Mr Margus Lutsoja. Mr Lutsoja holds 15 years of experience from the agricultural and food processing sector in the Baltic states, having working in various positions for leading enterprises in the sector. Mr Lutsoja is a graduate of Estonian Agricultural University with a degree in Agricultural Economics and he also holds a MSc in Economics from Tallinn Technical University.
For further information please contact:
Mr. Ülo Adamson, Chairman of the Board of Directors of A/S Trigon Agri
Tel: +372 66 79 200
The Company’s Certified Advisor is SEB Enskilda.
About A/S Trigon Agri
Trigon Agri A/S is a Danish agri-business investment company, investing in cereals and dairy farms in Ukraine, Russia and Estonia. Trigon Agri shares are traded at the First North stock exchange in Stockholm, an alternative market place part of the OMX Nordic Exchange. Trigon Agri is managed under an advisory agreement by AS Trigon Capital, a leading Central and Eastern European investment and corporate advisory firm managing over USD 1 billion in discretionary assets.