FirstFarms announced in its half-year report on August 23rd 2007 to
have submitted a tender to purchase a neighbouring company situated
between the activities in Agra M. and Mast Stupava in Slovakia. The
ownership of this company; Mlyn Zahorie A/S is from this day
transferred to FirstFarms A/S.
Mlyn Zahorie A/S possesses over 2,000 hectares of leasehold property,
50 % of which is certified for organic farming. The company also owns
a flour mill, situated approximately 50 km north of the activities in
Malacky. The flour mill is responsible for approximately 3 % of
Slovakia's total flour production and is planned to be sold because
processing of primary production is not part of FirstFarms' strategy.
The 2,000 hectares that Mlyn Zahorie A/S is cultivating will be part
of FirstFarms' joined field production in Slovakia that thereby
reaches 8,300 hectares. It is therefore expected to gain synergy
effects in the field production. To see FirstFarms' existing land
areas together with Mlyn Zahories activities see page 2 of this
announcement.
It is not expected that the purchase will change the expectations for
the results for 2007 announced earlier this year, but the turnover is
expected to increase with approximately DKK 1 million.
Best regards
FirstFarms A/S
