| | POLISH FINANCIAL SUPERVISION AUTHORITY | |
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| | | UNI - EN REPORT No | 31 | / | 2012 |
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| | Date of issue: | 2012-09-13 | | | | | | | | |
| | Short name of the issuer | | | | | | | |
| | KSG AGRO S.A. | |
| | Subject | | | | | | | | | | |
| | Commentary of the Management Board on the recent decrease in the price of the Issuer’s stock and the current situation at KSG Agro S.A. | |
| | Official market - legal basis | | | | | | |
| | Art. 56 ust. 1 pkt 1 Ustawy o ofercie - informacje poufne
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| | Unofficial market - legal basis | | | | | |
| | Contents of the report: | | | | | | | | |
| | The Board of Directors of KSG Agro S.A hereby informs that the sharp downward trend in the price of the Issuer’s stock observed recently may have been caused by the market’s incorrect understanding of the principles and objectives of the ADR program adopted by the Company.
KSG Agro has registered a program of American Depositary Receipts to be listed on an OTC market. The custodian bank is The Bank of New York Mellon.
The only objective for registering the program has been to ensure greater liquidity of KSG Agro stock. In order to issue the ADRs, BNY Mellon will purchase only the stock listed on the Warsaw Stock Exchange. KSG Agro S.A. does not intend to issue any new stock for the purposes of the ADR program and the Company’s main shareholder, Mr. Sergiy Kasianov, announces that he does not intend to sell or transfer any of his stock for the purposes of the ADR program either.
Furthermore, no new developments have taken place in the Company since date of publication of the most recent report for the first half of 2012 that could adversely affect the Company’s results or pose a threat to its business.
Legal grounds: Article 5 (2) of the Luxembourg law of 11 January 2008 relating to the transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and Article 56 of the Act of 29 July 2005 on public offering, conditions governing the introduction of financial instruments to organized trading systems and on public companies.
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| | Annexes | | | | | | | | | | |
| | File | Description | |
