02 May 2018 - Avangardco Investments Public Limited ("AVG") and UkrLandFarming PLC ("ULF"), and their advisor, Ziff-Ivin Associates Ltd, continue to be engaged in discussions with various creditor groups. As part of these discussions, they are working with an ad hoc committee of bondholders (the "Committee") and its advisor, Hogan Lovells International LLP, regarding the treatment of AVG's U.S.$200,000,000 10.0 per cent. Notes due 2018 (ISIN: XS0553088708) (the "AVG Notes") and ULF's U.S.$500,000,000 10.875 per cent. Notes due 2018 (Regulation S ISIN: XS0908502452 / Rule 144A ISIN: US903726AA55) (the "ULF Notes", and together with the AVG Notes, the "Notes"). The company expects that any restructuring of the company's debt including the Notes (the "Proposal") will include a request to restructure the interest payment due under the AVG Notes on 02 May 2018 (the "May 2018 Interest Payment"), in addition to the interest payments that were due under the AVG Notes on 30 October 2017 and on 2 May 2017. Consequently, the May 2018 Interest Payment will not be paid on 02 May 2018.
