Forward Sales Agreement (9537H)
June 07 2011 - 2:00AM
UK Regulatory
TIDMLKI
RNS Number : 9537H
Landkom International Plc
07 June 2011
7 June 2011
Landkom International PLC
20,000 tonnes of rapeseed forward sold at $600 per tonne
Landkom International PLC (AIM: LKI, "Landkom" or "the Group"),
the Ukrainian producer of agricultural commodities, has forward
sold a further 20,000 tonnes of its 2011 rapeseed crop for $600 per
tonne, excluding VAT, through two 10,000 tonne contracts. 5,000
tonnes were already forward sold in March this year.
The Group expects the price to be equivalent to $575 per tonne
ex works, excluding VAT, after the deduction of delivery costs to
the port and frontier.
The sales agreements are with an oil crushing plant and a global
agricultural commodities trading group.
Vitaliy Skotsyk, Landkom CEO said:
"We have now forward sold 25,000 tonnes of our 2011 rapeseed
crop and are pleased to be able to lock in higher prices for almost
70% of our estimated rapeseed production. We are committed to
delivering substantially improved results this year; attractively
priced forward sales contracts enable us to secure our budget and
plan for the future."
For further information:
Landkom International Plc
(www.landkominternational.com)
Vitaliy Skotsyk, Chief Executive +380 50352 5029
John Mapplebeck, Finance Director +44 (0)20 7726 2690
Liberum Capital
Simon Atkinson/Richard Bootle +44 (0)20 3100 2000
College Hill
Adrian Duffield/Rozi Morris +44 (0)20 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
END
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