ROSS GROUP PLC

Legal Proceedings Report • Sep 2, 2019

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RNS Number : 8505K

Ros Agro PLC

02 September 2019

Ros Agro Plc announces the results of internal investigation

Ros Agro PLC (the Company) announces that on 30 August 2019 the Unit for the Implementation of Sanctions (UIS) in the Financial Sector of the Republic of Cyprus has concluded that the Company's acquisition of bonds from the Russian bank, Rosselkhozbank, does not give rise to any liability under Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine (the Regulation). 

The Company had previously announced (on 21 March 2019) that it was in the process of carrying out an internal investigation in order to ascertain whether the financial arrangements relating to the acquisition of the debt of a Russian business (Solnechniye Produkty) that was completed in November 2018 may have inadvertently infringed the Regulation and was in discussions with the Cypriot authorities.

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