Ledo joint stock company for production and sale of ice cream and frozen foods, Zagreb, Čavićeva 1a, MBS: 080002964, OIB: 87955947581, responsible person: Dario Vrabec, (hereinafter: the Issuer), pursuant to Article 464 of the Capital Market Act and Article 19 of Paragraph 1 of Regulation (EU) no. 596/2014 on market abuse and Article 2 of the Implementing Regulation of the Commission (EU) informs as follows:
The Issuer informs that on 22 August 2017 was formally served with the respective temporary injunction resolution relating temporary injunction proceedings ongoing in Serbia against Ledo d.d. stakes in Frikom d.o.o (case number I 99/2017) initiated by the Sberbank Russia (“Sberbank”) proposal for the temporary banning of disposal and encumbering of 100% stakes Ledo d.d. (“Ledo”) holds in Frikom doo Beograd (“Frikom”) ongoing before the Commercial Court in Belgrade.
The Commercial Court in Belgrade passed a resolution dated 7 June 2017 granting temporary injunction i.e., temporary banning of disposal and encumbering of 100% stakes Ledo d.d. holds in Frikom d.o.o as security for Sberbank’s claim of EUR 100,000,000 (principal amount) and 1,323,493.44 (interest accrued by 25 May 2017) arising under the guarantee on the basis of the Facility Agreement dated 21 February 2017. The Issuer has prepared the Appeal to the Decision and shall be filed within the deadline. The Issuer is also informed that Sberbank has initiated arbitration proceeding against Agrokor d.d. and 11 guarantors (including the Issuer) which are ongoing before the LCIA in London in respect of €450 million advanced to the Agrokor group by Sberbank, which Sberbank claims should be repaid as a result of the Croatian extraordinary administration proceedings.In parallel to the arbitration process, Mr. Ramljak has applied to the English Court to have the extraordinary administration proceedings in Croatia recognized in England and Wales. The parties to the arbitrations have agreed to stay the arbitrations until Mr. Ramljack’s application has been resolved, which we anticipate will be November 2017 at the earliest.
The Issuer informs that it will further announces on further actions or decisions made in the restructuring process, which are deemed to be price sensitive information in accordance with the applicable regulations.
Ledo d.d. Zagreb
Source of information:
Ledo d.d.
Marijana Čavića 1a
10000 Zagreb
Telefon: 01 2385 723
Telefax: 01 2385 686
e-mail: financije@ledo.hr
web: www.ledo.hr
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