MHP S.A., one of the leading agro-industrial companies in Ukraine specializing in production of poultry and the cultivation of grain, used MHP shares to take control over 5% of ALLC Starynska breeding farm ("Starynska") in exchange for 0.5% of MHP shares. The decision was supported during the Board Meeting back on November 15, 2016.
MHP together with its subsidiaries owned 95% of the share capital of Starynska. The minority shareholder, the CEO of Starynska Aleksander Zubchuk held the remaining 5%. The minority shareholder of Starynska has exchanged 5% of Starynska shares for 531,395 shares of MHP, respresenting 0.5% of MHP's outstanding GDR-share capital.
The number of MHP shares received by a minority shareholder was calculated based on the relative consolidated EBITDA of MHP and Starynska (without any discount or premium), the company’s press release reads.
