Mriya Agro Holding / Key word(s): Liquidity Problem
01.08.2014 17:23

Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG.
The issuer / publisher is solely responsible for the content of this announcement.

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THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SUBJECT SECURITIES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE THE RE-TRANSMITTAL TO BENEFICIAL OWNERS OF THE SECURITIES IN A TIMELY MANNER. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, IF ANY, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 (IF THEY ARE IN THE UNITED KINGDOM) OR ANOTHER APPROPRIATELY AUTHORISED INDEPENDENT FINANCIAL ADVISER AND TAKE SUCH OTHER ADVICE FROM THEIR OWN PROFESSIONAL, TAX AND LEGAL ADVISERS AS THEY DEEM NECESSARY, IMMEDIATELY.

Notice to Noteholders

MRIYA AGRO HOLDING PUBLIC LIMITED

U.S.$400,000,000 9.45 PER CENT. NOTES DUE 2018

ISINs: XS0916902256/ US62476KAB61


MRIYA AGRO HOLDING PUBLIC LIMITED

U.S.$250,000,000 10.95 PER CENT. NOTES DUE 2016

ISINs: XS0559140875/ US62476KAA88


 1 August 2014

Financial condition of the Issuer and its subsidiaries
Reference is made to the trust deed dated 30 March 2011 and 19 April 2013 (the "Trust Deed")made between, inter alia, BNY Mellon Corporate Trustee Services Limited as note trustee (the "Note Trustee") and Mriya Agro Holding Public Limited (the "Issuer") pursuant to which the Issuer issued the notes referred to above (the "Notes").

Capitalised terms used and not defined in this notice shall have the meanings set out in the Prospectuses dated 28 March 2011 and 17 April 2013 respectively.

The financial condition of the Issuer and its subsidiaries (the "Group") has deteriorated in recent months as a result of several factors including an increase in the price of certain raw materials, a decline in the price of agricultural products and difficulty in obtaining working capital facilities due to the economic situation in Ukraine. This has led to the Group facing a worsening liquidity position and to the Group having to take steps to restore its financial viability.

The Group is moving quickly to take the appropriate steps and we intend to engage with our stakeholders in a constructive and co-ordinated manner. These steps include a number of actions to preserve the Group's liquidity and the appointment of experienced financial advisers The Blackstone Group International Partners LLP and Dragon Capital to review the on-going financial position of the Group. In addition, the Group has appointed Bryan Cave as a legal adviser and is seeking to appoint a major firm of international accountants to conduct an independent review of its business. At the same time, the Group has not made interest and amortisation payments on certain of its debt obligations and is in active discussions with the relevant lenders. These discussions are on-going.
Whilst we intend to engage with our stakeholders as quickly as possible, we recognise that it will take time for our advisers to complete their review of the Group's business and financial position and to make appropriate proposals for the future viability of the Group, including a revised business plan. These proposals are likely to include the restructuring of the Group's balance sheet. In the meantime, the Group expects to continue its business operations in the normal course.

We will inform Noteholders as soon as possible of the outcome of the review of the Group's business, its discussions with its lenders and of any proposals which are material to Noteholders.

We will ask all creditors to co-operate with us in this process so that the Group and its advisers are given the time that is necessary to carry out this review and to ensure that all creditors have all material information and, as appropriate, suitable proposals. Accordingly, we encourage Noteholders to appoint a committee to represent their interests and in due course to engage on their behalf with us as we formulate any proposals concerning the creditors of the Group.

Queries may be addressed to:


This notice is given by
MRIYA AGRO HOLDING PUBLIC LIMITED
as Issuer


01.08.2014 The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Mriya Agro Holding
19/21a Bogdana Khmelnytskogo St., 15th floor               01030 Kyiv
              Ukraine
Phone:        +38 044 393-47-93
Fax:          +38 044 393-47-93
E-mail:       info@mriya.ua
Internet:     www.mriya.ua
ISIN:         US62476F2002
Listed: Frankfurt in Open Market (Entry Standard) ; London  
End of Announcement EquityStory.RS, LLC News-Service  

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