On August 17, 2015, Milkiland N.V. entered into the Professional Services Agreement with “Deloitte & Touche” Ltd., a member firm of Deloitte Touche Tohmatsu Limited. The Agreement envisages the provision by “Deloitte & Touche” Ltd. of Company’s Business Review and review of short-term liquidity forecast.
Further deterioration of macroeconomic situation in the Group’s key markets of Ukraine and Russia largely affected Milkiland’s operations in H1 2015. The access to the Group’s main export market of Russia remained limited, since restrictions against Ukrainian dairy export, as well as food export from the EU, were not lifted by Russian authorities due to continuing tensions between Russia, Ukraine and the EU.
On February 20, 2015, The Federal Service for Supervision of Consumer Rights Protection and Human Well-being of the Russian Federation (Rospotrebnadzor) has suspended the imports to Russia of cheese products and imitation cheese produced in Poland, including imitation cheese under Jolly Cow brand by Milkiland’s Polish subsidiary Ostrowia.
Milkiland Group warmly wishesMerry Christmas and Happy New 2015 Year to our shareholders, customers, partners and friends.
On November 14, 2014, Milkiland N.V. paid dividends of EUR 0.07 per ordinary share to its shareholders for the year ended December 31, 2013.