Kernel increases share capital by 1.5% pursuant to option plan

Managers of Kernel Holding SA (Luxembourg), the holding company of large Ukrainian agrarian group Kernel, received 1.24 million shares pursuant to the option plan approved earlier or 1.51% of the shared issued.

According to a company report on the Warsaw Stock Exchange (WSE), the price of the option scheme deal was PLN 26.77 per share.

The shares quotations as of 11:05 on June 12 were PLN 68.24 per share, a decline of 1.5% since the beginning of trading.

As a result of the increase, the company’s share capital is set at $ 2.164 million divided into 81,941,230 shares without indication of nominal value.

Kernel is the world's largest producer and exporter of sunflower oil, the leading producer and supplier of agricultural products from the Black Sea region to the world markets. The vertically integrated structure of the company is built on closely interconnected business segments: production, exports and domestic sales of sunflower oil, crop growing, exports of grains, storage and transfer of grain at elevators and port terminals. Since 2007 the company's shares have been trading on the WSE.