Astarta-Kyiv in legal proceedings over minority stakeholder share

The agri-industrial holding Astarta-Kyiv informed about the situation with respect to the public appeal concerning one of its former minority stakeholders in the Group’s subsidiary (0.98% stake in the subsidiary).

The subject of the appeal concerns non fulfillment by the Group regarding its commitment to redeem the minority stakeholder share, which is of immaterial character. At the same time, the Group maintains its own claim against the minority interest party.

Management of the company strongly believes that ultimate liability, if any, arising from the current actions and/or complaints will not have an adverse material effect on the financial condition or results of the Group's operations.

"As a publicly listed company, Astarta Holding N.V. conducts business in a wholly transparent manner and in compliance with relevant laws, regulations, and legal requirements. That is why we publish this statement. In addition, this matter will be disclosed in the 2018 financial statements," the report says.

Previously the company informed about a preliminary agreement for the purchase of grain storage (an elevator) in Khmelnytsky region within the framework of a three-year investment program.