OFFICIAL POSITION OF THE COMPANY ON POTENTIAL COOPERATION IN KSA
MHP SE (LSE: MHPC, the “Company”), the parent company of a leading international agro-industrial group with headquarters in Ukraine, pursuant to article published today, 12 February 2020, on www.liga.net, would like to communicate the official position of the Company:
MHP’s key associate and official sponsor in Saudi Arabia is Prince Turki Al Faisal, member of the Royal family. Prince Turki is also a close associate of a member of the Board of Directors of MHP.
The Company is planning a sizeable greenfield project in Saudi Arabia with solid local counterparties. The project is in an advanced planning stage. The proposal currently being discussed is an equity contribution of 30% by MHP and local partners while the balance is funded through low cost, long tenor loans provided by the state, which allows the project to achieve a high IRR and return to the country considerable economic and food strategic benefits for the future.
Investment projects in several Eastern European countries will continue and there are plans under review to invest in Serbia and Croatia. Current investment projects are estimated to be around US$100 million in the near future.
At this time, MHP is not planning to buy assets, however, it will continue to conduct market analysis in conjunction with local partners.
For reference, MHP is the largest producer and exporter of chicken in Ukraine and one of the key exporters to Europe. The Company contributes to 55% of Ukrainian chicken production. MHP is represented by the trademarks Nasha Ryaba, Legko!, Bashchinsky. Mr. Yuri Kosyuk, through WTI Trading Limited, hold around 60% of the shares of MHP. The Company’s assets are based in Ukraine (about 30 enterprises), the Netherlands, Slovakia and Slovenia.
Please address any questions or concerns to:
Anastasiia Sobotiuk (Kyiv)
Director of IR
+38 044 207 00 70
+38 050 339 29 99
John Grant (London)
Senior Independent Director
+44 (0)7768 465042
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