2 May 2017 – Avangardco Investments Public Limited (“AVG”) and UkrLandFarming PLC (“ULF”) and their advisor, Latham & Watkins LLP, are engaged in discussions with an ad hoc committee of bondholders (the “Committee”) and its advisors, Hogan Lovells International LLP and Ernst & Young, regarding a proposal (the “Proposal”) in respect of AVG’s U.S.$200,000,000 10.0 per cent. Notes due 2018 (ISIN: XS0553088708) (the “AVG Notes”) and ULF‘s U.S.$500,000,000 10.875 per cent. Notes due 2018 (Regulation S ISIN: XS0908502452 / Rule 144A ISIN: US903726AA55) (the “ULF Notes” and together with the AVG Notes, the “Notes”) which it expects to share with holders of the Notes in due course. The Committee represents approximately 50% of the AVG Notes and approximately 40% of the ULF Notes. It is possible that the Proposal will include a request by AVG to restructure the April 2017 interest payment due under the AVG Notes (the “April 2017 Interest Payment”). Consequently, the April 2017 Interest Payment will not be paid on 2 May 2017 and AVG will instead make use of the 14 day grace period set forth in the Terms & Conditions of the AVG Notes. 

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AVANGARDCO INVESTMENTS PUBLIC LIMITED APRIL 2017 INTEREST PAYMENT
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