Alpcot Agro press release | 13 May, 2008
Alpcot Agro AB has temporarily closed down the OTC trading because of the pending capital raising and communicates a new report on land under control. Alpcot Agro will list its shares on First North after the half-year report.
Alpcot Agro temporarily closes down the OTC trading at Carnegie Investment Bank AB because of the pending capital raising. The trading is planned to be resumed later in May.
Alpcot Agro is currently in control of 128,800 hectares of arable land in Russia. The Company has today established its presence in six regions in Russia. The Company operates in Kursk, Lipetsk, Tambov and Voronezh in the Central federal district. The Company has also operations in Volgograd in the Southern federal district and in Kurgan in Siberia. Alpcot Agro has also increased its direct and indirect ownership of land to about 69,000 hectares of arable land. The Company is planning to harvest approximately 52,700 hectares in 2008.
An application for a listing of the Company’s shares on First North will be made after the publication of the Company’s half-year report. No further capital raisings in connection to the listing is currently planned.
Alpcot Agro’s target is to control 200,000 hectares by the end of 2008.
 “Owned land” refers to land that has been registered in the name of a subsidiary or indirectly owned land within the framework of the pai system. The land certificates may be registered either in the name of a subsidiary or in an agent’s name within the framework of a legally binding agreement between the agent and the Company’s subsidiary. At present only a small portion of owned land is registered in the name of a subsidiary. “Land under control” means land where the Company’s subsidiary, either itself or through one of the Company’s agents, has registered a lease or is in the process of registering a lease with the local authorities.
Alpcot Agro is a Swedish limited liability company and was incorporated in 2006. The Company’s objective is to generate an attractive total return on invested capital by acquiring and farming agricultural land in Russia and potentially in other CIS member states. The company has as of today gained control of 128,800 hectares, of which about 69,000 are in direct or indirect ownership, and the Company plans to continue to acquire farmland as long as land prices are attractive. The Company’s target is to control about 200,000 hectares by the end of 2008 and harvest about 52,700 hectares in 2008. Alpcot Agro plans to float its shares on a Swedish stock market before the end of 2008.