Agrokultura has invested in farmland and has produced agricultural commodities in Eastern Europe since 2007. Using modern western equipment and techniques, Agrokultura delivers market leading yields in the fertile regions in which it operates.
Its land bank of over 200,000 ha produces a variety of agricultural commodities such as wheat, rapeseed, barley, corn, sunflower and sugar beet which are sold for domestic and export consumption. Local and international management expertise combines to deliver an attractive return on capital for its shareholders.
October 2016 - Update on compulsory purchase process:
In 2015 Magna Finance Investments Limited (“the Majority Shareholder”) commenced proceedings to purchase shares owned by the remaining minority investors. According to Swedish regulations, this process is controlled by an independent arbitration panel, with all but three minority shareholders being represented in proceedings by a trustee. An application was made by the Majority Shareholder to obtain advanced title to the remaining shares held by the minority investors by paying an undisputed amount of 4.5 SEK per share (equating to the public offer price), however this was not successful. The implication of this is that the minority investors will be paid the entire settlement only at the time a final settlement has been agreed or arbitrated upon. In order to progress the process, the arbitration panel is currently waiting for the trustee and the minority shareholders to submit their claimed valuation of the Agrokultura shares. These valuations have been postponed a number of times thus delaying the process. The process for the arbitration panel to conclude on the value of the Agrokultura shares or the negotiation between the Majority Shareholder and the minority shareholders can only commence once claims of value have been presented. Once the arbitration panel has made its ruling (or a satisfactory settlement has been agreed between parties), the share consideration shall be distributed by Euroclear to each shareholder’s directly registered proceeds account registered with Euroclear. For shareholders holding their shares with a custodian, the amount will be distributed to the custodian, which will pay out the amount to the shareholder. At the same time, the minority shareholders’ Agrokultura shares will be distributed to the Majority Shareholder, which will then hold 100% of the shares in Agrokultura AB.
Further updates will be made when appropriate on this website.
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