Ukrainian agroindustrial group Myronivsky Hliboproduct (MHP), the largest poultry producer in Ukraine, purchased 1,310,000 Global depository receipts (GDRs) with one GDR representing an interest in one ordinary share at an average price per GDR of $11.07, through the share buy-back program, reads a company report on the London Stock Exchange (LSE) issued on July 3, 2012.
The number of repurchased GDRs constitutes approximately 2.3% of the company's issued and outstanding shares (2,480,000 shares), says the report.
The company bought first 1,170,000 shares at an average price per GDR of $11.13.
At present, the company’s shares are listed at a price of $11.40 per share.
As reported, MHP S.A., the holding company of the largest Ukrainian agroindustrial group, Myronivsky Hliboproduct, could purchase up to 11,077,000 of its shares in the form of GDRs in the open market, which is around 10.3% of all shares issued by the company, the company decided at a meeting in October 2011.
The implementation of the Buy Back Share Program can take place at any time during a period of up to five years from the moment of its approval. Purchases will be made at a market price ranging between $1 and a maximum of $18 per GDR.
MHP is the largest poultry producer in Ukraine. The company also produces grain, sunflower oil and other foodstuffs.
MHP S.A. in 2011 increased its net profit by 20.4% from a year ago, to $259.36 million. Sales grew by 30.2% in 2011, to $1.229 billion, while its EBITDA rose by 24%, to $401 million.
