LKI Landkom

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RNS Number : 7387M

Landkom International Plc

22 August 2011

22 August 2011

Landkom International PLC

30,000 tonnes of maize forward sold at $278 per tonne

Landkom International PLC (AIM: LKI, "Landkom" or "the Group"), the Ukrainian producer of agricultural commodities, has agreed its first forward sale and export of maize, selling 30,000 tonnes of its 2011 maize crop for an average of $278 per tonne, excluding VAT.

The sale was made through two contracts, one for 10,000 tonnes at $279 per tonne and one for 20,000 tonnes at $277 per tonne. Delivery terms are CPT Odessa during the months of November and December 2011.

The Group expects the price to be equivalent to $220 per tonne ex works, excluding VAT, after the deduction of broker commission, export tariffs, and delivery costs to the port.

The Group has now completed its rapeseed and winter wheat harvest, the results of which are due to be announced next week.

Vitaliy Skotsyk, Landkom's CEO said:

"These sales allow us to lock in good prices for what is expected to be approximately 50% of our total maize harvest. By exporting our crops we are able to take advantage of higher international prices and hedge foreign exchange risk to help achieve our growth targets."

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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