Kyiv, Ukraine– AVANGARDCO INVESTMENTS PUBLIC LIMITED (LSE: AVGR) (the "Company" or "AVANGARDCO IPL"), the largest producer of shell eggs and egg products in Ukraine and number one producer in Eurasia, announces changes in its Management Board.
Following the election of Mrs. Nataliya Vasylyuk as Chairwoman of the Board of Directors of Avangardco IPL, Mrs. Iryna Marchenko has been appointed the CEO of the Company. Mrs. Iryna Melnik was appointed as the CFO.
Nataliya Vasylyuk, Chairwoman of the Board of Directors of Avangardco IPL, commented:
“The appointments of Iryna Marchenko and Iryna Melnik are in line with the Board’s objective to raise the level of transparency in the Company for the benefit of all shareholders. Our management team will continue to execute on its stated strategic goals and deliver on the Company`s operational and financial targets.”
Mrs. Marchenko graduated from the Kyiv Municipal Management Academy in 2004 with an accounting and audit qualification. She obtained an ACCA IFRS Diploma in 2008. Mrs. Marchenko joined the Company in 2007 and served as its CFO since 2010 to January 2013.She has over ten years of industry experience.
Mrs. Melnik graduated from the Economic Faculty of Stefanik Prykarpattya National University in 2002 with a degree in business economics. Iryna Melnik joined the Company in 2010 as a Deputy Chief Financial Officer. She has over eight years of industry experience.
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For investor's inquiries:
Alina Korniets
AVANGARDCO IPL
Acting Head of Investor Relations
Phone: +38 044 393 40 50
Mobile: +38 067 664 49 99
e-mail: a.korniets@avangardco.ua
FTI Consulting London | FTI Consulting Moscow |
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AVANGARDCO IPLis one of the largest agro-industrial companies in Ukraine, specializing in the production of eggs and egg products. As of September, 30 2012, the total poultry stock of the Company was 27.4 million heads. The Company’s production facilities are located in 14 regions of Ukraine and the Autonomous Republic of Crimea. As of September, 30 2012, the Company exported its products to 34 countries of the world, mostly to the Middle East, Asia and the CIS countries. As of September, 30 2012, revenues amounted to US$445.8 million (9M2011: US$334.9 million) and EBITDA was US$194.0 million (9M2011: US$140.6 million).
The Company’s shares, in the form of Global Depositary Receipts, have been traded on the London Stock Exchange since May 2010. The Eurobond issue for approximately $200 million with a maturity on 29 October 2015 was included in the official list of the UK Listing Authority (UKLA) and admitted to trading on a regulated market of the London Stock Exchange on November 1, 2010.
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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Avangardco IPL. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might”, the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in the Company’s geographical locations, rapid technological and market changes in our industry, as well as many other risks specifically related to Avangardco IPL and its operations.