MILKILAND: strona spółki
31.08.2020, 22:43
MLK Signing of the Investment agreement in Poland
The Board of Directors of Milkiland N.V. (“the Company") informs that several years of loss-making activities of the Milkiland’s Polish subsidiary Milkiland EU Sp. z o.o. controlling the main production asset of the Group in Poland, Ostrowia cheese making plant, throght Ostrowia Sp. z o.o. subsidiary, pushed the Group’s management towards searching the strategic investor for its operations in this country.
As the result, the Investment agreement was signed on September 23, 2019, between the Group’s Polish subsidiaries MILKILAND EU Sp. z o.o. and Ostrowia Sp. z o.o. and CREMA VITA Sp. z o.o. on implementation of the investment project aimed at the improvement of the financial standing of Ostrowia Sp. z o.o. and its further development including by the implementation of the new production technology (hereinafter „the Investment agreement”). According to the Investment agreement, the Investor made the contribution in kind by the know-how technology of special type of cheese production with the respective intellectual property rights in the exchange of the shares in Ostrowia Sp. z o.o. The value of this contribution stood at PLN 420 thousand. Investor also opened the new markets for Ostrowia plant produce based at the valid contracts on special types of cheese supplies with B2B customers in the Western European markets. Company’s management took the decision independently, since not bound by the approval from the Board of Directors of Milkiland N.V. In line with the implementation of the Investment agreement, the Investor, namely CREMA VITA Sp. z o.o., with its UBO Mr. Anatolii Mylevskyi, controlling the stake of 98% of the company’s equity (third party person to the Group), took over the control over 80% stake in Ostrowia Sp. z o.o. Also, Milkiland’s Chief Operational Officer, Mr. Olga Yurkevich controls the minority stake of 2% of the capital of the Investor. Milkiland remains the minority shareholder in Ostrowia Sp. z o.o. with the stake of 20% of its share capital.
As the result, the Investment agreement was signed on September 23, 2019, between the Group’s Polish subsidiaries MILKILAND EU Sp. z o.o. and Ostrowia Sp. z o.o. and CREMA VITA Sp. z o.o. on implementation of the investment project aimed at the improvement of the financial standing of Ostrowia Sp. z o.o. and its further development including by the implementation of the new production technology (hereinafter „the Investment agreement”). According to the Investment agreement, the Investor made the contribution in kind by the know-how technology of special type of cheese production with the respective intellectual property rights in the exchange of the shares in Ostrowia Sp. z o.o. The value of this contribution stood at PLN 420 thousand. Investor also opened the new markets for Ostrowia plant produce based at the valid contracts on special types of cheese supplies with B2B customers in the Western European markets. Company’s management took the decision independently, since not bound by the approval from the Board of Directors of Milkiland N.V. In line with the implementation of the Investment agreement, the Investor, namely CREMA VITA Sp. z o.o., with its UBO Mr. Anatolii Mylevskyi, controlling the stake of 98% of the company’s equity (third party person to the Group), took over the control over 80% stake in Ostrowia Sp. z o.o. Also, Milkiland’s Chief Operational Officer, Mr. Olga Yurkevich controls the minority stake of 2% of the capital of the Investor. Milkiland remains the minority shareholder in Ostrowia Sp. z o.o. with the stake of 20% of its share capital.