December 20, 2010

Vapniarka Dairy to buy out 100% shares from stockholders

Vapniarka Dairy is planning to buy out 100% shares from its stockholders, with the final decision to be made on January 31, 2011.

In particular, the agenda of the meeting includes the issue on buying out of 28 million simple registered shares with the face value of UAH0.25 (US$0.03).

The dairy plans to buy out the shares from stockholders starting with March 4 until all shares are finally acquired.

The cost shares will be bought out at will be defined on a negotiable basis.

Earlier, the Vapniarka dairy plant finished 2009 at a loss of UAH1.746 million (US$218,934).

In 2009, the dairy cut net revenue by 26.44% or UAH25.212 million-UAH 70.139 million (US$3.16 million-$8.79 million) against 2008.

The Vapniarka dairy finished 2008 with a net profit of UAH2.721 million (US$341,191), having boosted net revenue by 63% or UAH36.854 million-UAH95.351 million (US$4.62-$11.96) on 2007.

In 2009, the Vapniarka dairy plant reduced production by 19.5% or 960 tonnes compared with 2008, to 3,962 tonnes.

OJSC Vapniarka dairy plant was founded in 1926. The enterprise processes milk and produces hard cheeses, cream and sour milk products.

Vapniarka dairy plant is a part of the TERRA FOOD production and trading holding company.