The stabilisation period commenced on December 28, 2007 and ended on January
25, 2008. No stabilisation transactions were carried out by E. Öhman J:or
Fondkommission AB ("Öhman"), which was appointed stabilisation manager in
connection with the initial public offering ("IPO") of Black Earth Farming Ltd.
4,800,000 Swedish Depository Receipts ("SDRs") in Black Earth Farming Ltd,
which were borrowed by Öhman in order to cover any over allotment in connection
with the IPO, were returned to Vostok Nafta Investment Ltd (through its
subsidiary Vostok Komi (Cyprus) Ltd) on January 31, 2008. Vostok Nafta
Investment Ltd thereafter holds 26,715,404 SDRs in Black Earth Farming Ltd.
Öhman was appointed Global Co-ordinator and Bookrunner and Nomura International
plc was appointed Joint Lead Manager in connection with the IPO. Pareto
Securities AS and UniCredit CAIB UK Ltd were appointed Co-lead Managers.
Bankaktiebolaget Avanza and Nordnet Bank AB were appointed Net Managers.
For additional information, please contact:
Gustav Wetterling, IR Director, Black Earth Farming Ltd., Tel: +44 207 117 81 00
Notes to the Editor:
Black Earth Farming Ltd. is a leading farming and land owning company operating
in Russia. It acquires, owns and cultivates agricultural land assets primarily
in the fertile Black Earth region in southwest Russia. Black Earth Farming was
among the first foreign financed companies to make substantial investments in
Russian agricultural land assets, and because of its early establishment, Black
Earth Farming has now gained a strong market position in the Kursk, Tambov,
Lipetsk, Samara, Voronezh and Ryazan areas, controlling 277,000 hectares of
what perhaps is the world's most fertile soil. Black Earth Farming will
continue to acquire farmland in order to draw full benefits of economies of
scale in its operations.
In 2007, Black Earth Farming harvested approximately 52,000 hectares of crops,
of which the greater part was wheat.
Founded in 2005 by Michel Orlov, the company has been developed by the listed
investment companies Vostok Nafta Investment Ltd. and Investment AB Kinnevik
(publ).
