Integrites is a legal adviser to MYRONIVSKY HLIBOPRODUCT

28 March 2011. Kyiv. International law firm Integrites advised Myronivsky Hliboproduct (MHP SA), one of the largest agricultural companies in Ukraine in relation to compliance with Continuing Obligations of GDR issues listed and traded at the London Stock Exchange (LSE).

Integrites advised MHP SA, one of the major Ukrainian companies, on its compliance with the rules of the UK Financial Services Authority (FSA) and the London Stock Exchange (LSE) on continuing disclosure obligations. Following changes introduced by the FSA into its Rulebook in 2010 GDR issuers had to reconsider their PDMR (person discharging managerial responsibilities) transactions disclosure practices.

Having held negotiations with the FSA regulatory and compliance teams, Integrites lawyers, in conjunction with the compliance department of the LSE, prepared MHP SA legal position and following several successful rounds of discussions with the FSA, obtained an official FSA explanation of application practices of LR 3, LR 4 and LR 7 to GDR issuers, which reflected key points of the Integrites position. The explanation issued was recognised by the LSE specialists as applicable to all GDR issuers, including all leading CIS companies listed and traded in London.

Integrites team included Neonila Shyshak and Edna Shindinde and was lead by capital markets partner Andrei Laikhov, in close collaboration with the legal department of MHP SA.

MHP SA is one of the leading Ukrainian companies, which includes more than 20 enterprises, among them: crop growing enterprises engaged in grains cultivation (corn, sunflower, wheat, rape, etc.); provender mills and grain elevators; 6 poultry factories, as well as meat-processing factories.