Black Earth Farming Limited, a leading farming and land owning company
operating in Russia, today announces its intention to seek a listing on the
First North list in Stockholm by the end of 2007, as well as its long term
intention to later apply for a listing on OMX Nordic Exchange Stockholm.
The listing will be sought by way of a public offering of depository rights. At
the same time, Black Earth Farming's intention is to list its outstanding bonds
due 2011 on OMX Nordic Exchange Stockholm.
Black Earth Farming was one of the first companies to buy and cultivate
farmland in Russia on a grand scale. Since its start in 2005, Black Earth
Farming has gained control over 260,000 hectares of farmland. The company is
using leading agricultural technology and facilities, as well as the most
sophisticated international expertise, to become one of the leading grain
producers in the world.
Michel Orloff, President of Black Earth Farming commented:
"By listing Black Earth Farming on First North, we will not only provide
investors with the opportunity to hold a unique asset in an attractive and
growing sector. We will also take a next step in our expansion by improving our
access to capital needed to increase the pace of getting land under control and
to accelerate our farming operations by enabling further investments in
operating facilities."
For additional information, please contact:
Gustav Wetterling, IR Director, Black Earth Farming Ltd, Tel: +46 706 38 15 57
UK and Continental Europe enquiries: Elena Shalneva, Brunswick Group, +44 207
404 5959
Notes to Editor:
Black Earth Farming Ltd is a leading farming and land owning company operating
in Russia. It acquires, owns and cultivates agricultural land assets primarily
in the fertile Black Earth region in southwest Russia. Black Earth Farming was
among the first foreign financed companies to make substantial investments in
Russian agricultural land assets, and because of its early establishment, Black
Earth Farming has now gained a strong market position in the Kursk, Tambov,
Lipetsk, Samara, Voronezh, Kaluga and Ryazan areas, controlling 260,000
hectares of what perhaps is the world's most fertile soil. Black Earth Farming
will continue to acquire farmland in order to draw full benefits of economies
of scale in its operations.
In 2007, Black Earth Farming harvested more than 50,000 hectares of crops, of
which the greater part was wheat.
Founded in 2005 by Michel Orloff, the company has been developed by the listed
investment companies Vostok Nafta Investment Ltd and Investment AB Kinnevik,
which together still are the principal shareholders in the company.
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the United States (including its territories and dependencies, any State of the
United States and the District of Columbia), Canada, Australia or Japan. This
press release does not constitute or form a part of any offer or solicitation
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mentioned herein have not been, and will not be, registered under the United
States Securities Act of 1933 (the "Securities Act").
Securities may not be offered or sold in the United States except pursuant to
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