Use of proceeds
The gross proceeds may be about PLN 153 million. The company intends to use the proceeds from the Offering for the purposes of:
· expansion of storage capacities for agricultural commodities at existing facilities by 82,000 tonnes
· increase by 16,000 hectares of the farmland bank in Ukraine
· purchase of additional agricultural machinery for cultivation of 32,000 hectares
· acquisition of 130,000 tonnes of storage facilities from SJSC Khlib Ukrainy
· increase in working capital
To the extent that the net proceeds from the Offering are not invested as described above, proceeds will be used to take advantage of other opportunities in line with the Group’s business strategy. The company estimates that the anticipated proceeds will be sufficient to fund all the proposed uses.