Paris, on 24 September 2021
Today, AgroGeneration and the European High Growth Opportunities Securitization Fund announce that they have come to a settlement regarding the ORNANE issuance contract (ORNANE) signed in 2018. In July 2019, proceedings about the ORNANE were brought before the Paris Commercial Court following a contractual dispute[1].
After several years of disputes before the French courts, AgroGeneration and the European High Growth Opportunities Securitization Fund represented by its management company European High Growth Opportunities S.A, have come to a mutual agreement regarding the ORNANE.
On 16 September 2021, AgroGeneration and the European High Growth Opportunities Securitization Fund reached a binding agreement, formalized by the signature of a settlement agreement. This settlement agreement, which does not imply any recognition of liability, or the validity of the grievances raised on either side, should end all disputes between the parties.
On the same day, the Board of Directors of AgroGeneration approved the terms and conditions of the settlement agreement.
The settlement agreement provides for the allocation by AgroGeneration to European High Growth Opportunities Securitization Fund of existing treasury shares and a transactional indemnity of €1.5M to be paid by AgroGeneration in cash and 686,411 owned shares.
The other terms of the settlement agreement provide for the termination of the issuance contract (ORNANE), the lapse of the outstanding ORNANE and the mutual release and waiver of proceedings, actions and counterclaims against the other party.
AgroGeneration and European High Growth Opportunities Securitization Fund have agreed to proceed jointly with the homologation of the settlement agreement in the coming days and to notify the settlement of their disputes to the competent courts.
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About AGROGENERATION
Founded in 2007, AgroGeneration is a large-scale producer of grain and oilseed. Following its merger with Harmelia, AgroGeneration today is ranked amongst some of the largest agricultural firms in Ukraine. The company's core business is grains and oil commodity crop farming, operating near 60,000 hectares of high quality agricultural lands in the East of Ukraine.
All information on AgroGeneration's website: www.AgroGeneration.com
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| AgroGeneration +33 (0)1 55 27 38 40 investisseurs@AgroGeneration.com www.AgroGeneration.com |
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Anne-Pauline Petureaux, Relations investisseurs
+33 (0) 1 53 67 36 72
[1] Press release dated 8 July 2019
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