St Helier, Jersey, 2017-08-10 08:00 CEST (GLOBE NEWSWIRE) --
The Board of Directors of Black Earth Farming Ltd. (the "Company") has determined that the total amount in SEK to be distributed through the proposed mandatory share redemption program of the Company is SEK 1,501,438,967, which corresponds to SEK 6.76 per share.
As previously announced in the notice of Annual General Meeting issued on 20 July 2017, the reason for waiting with determining the SEK amount to be distributed by way of the proposed redemption program was that the Company wished to maintain existing hedging arrangements and retain the potential to hedge currency as long as possible.
For additional information, please contact:
Richard Warburton, Chief Executive Officer, + 7 985 208 24 01, richard.warburton@BlackEarthFarming.com
This information is information that Black Earth Farming Ltd is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the CEO set out above, at 08:00 CEST on 10 August 2017.
About the Company:
Black Earth Farming Ltd. (Jersey) is a farming company that until recently operated in Russia. Its shares are listed as depository receipts on Nasdaq Stockholm. The Company has recently sold its agricultural land assets and the board has proposed to distribute the proceeds from the sale and remaining funds to its shareholders and thereafter to liquidate the company. Corporate website: www.blackearthfarming.com
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