| | POLISH FINANCIAL SUPERVISION AUTHORITY | |
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| | | UNI - EN REPORT No | 4 | / | 2012 |
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| | Date of issue: | 2012-02-02 | | | | | | | | |
| | Short name of the issuer | | | | | | | |
| | INDUSTRIAL MILK COMPANY S.A. | |
| | Subject | | | | | | | | | | |
| | Preliminary estimated results for the year 2011 and intention to attract debt financing for further development | |
| | Official market - legal basis | | | | | | |
| | Art. 56 ust. 1 pkt 1 Ustawy o ofercie - informacje poufne
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| | Unofficial market - legal basis | | | | | |
| | Contents of the report: | | | | | | | | |
| | The Board of Directors of Industrial Milk Company S.A. (the "Company") reports that:
1. The Company is considering a bond offering among Polish investors in order to finance mostly a potential acquisition of an agricultural company, which operates more than 50,000 hectares of land in Ukraine.
The Company will inform on the debt raising, if any, according to the legal requirements, in particular according to § 5 sec. 1 point 11 of Regulation of the Ministry of Finance dated February 19, 2009 on current and periodic information published by the issuers of securities and on conditions of recognition of information required by the law of a non-member country as equal.
2. Based on the data available the management of the Company, Company’s consolidated revenues, EBITDA and agricultural produce in closing inventory for the year ended 31 December 2011 are preliminary estimated at the level of US$ 30.0 mln, US$ 26.4 mln and US$ 34.0 mln, respectively.
3. Based on the data available the management of the Company, as of December, 31 2011 the Group’s total indebtedness and cash position amounted to about US$ 22.0 mln and US$ 4.6 mln, respectively, according to the Company’s estimates.
The above estimations were based solely on the data available to members of Company’s Board of Directors regarding the financial results for period from January to December 2011 of the Company and related entities.
The above estimated results were not subject to verification by the Company’s auditor and will not be subject to such verification.
Estimated results mentioned above will be monitored by the Company until the moment of publication of audited report for the year 2011. Any changes exceeding 10% in value of the figures will be published in the form of current report.
Legal basis: Article 56 sec. 1 point 1 of the Act of 29 July 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies (Journal of Laws No. 184, item 1539, as amended) – Inside Information
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| | Annexes | | | | | | | | | | |
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