17 Nov 2023 16:52

Kernel CEO, majority shareholder Verevsky purchases another 0.3% stake in company

MOSCOW. Nov 17 (Interfax) - Namsen Limited, controlled by Andrei Verevsky, CEO and majority shareholder of Ukraine's Kernel Holding S.A., has acquired another 0.2858% of the company's shares, which, taking into account the treasury shares, increases Verevsky's stake to approximately 93.96%, Ukrainian media reported, citing Kernel's statement.

Kernel said that Namsen bought 762,510 shares at $1.807 per share on the over-the-counter market on November 15, and 95,000 shares at 7.3 zloty ($1.81 at the current exchange rate) per share on November 16.

As reported, Verevsky earlier this year increased his stake from 41.3% to 74.05% as part of a share buyback and the company's planned delisting from the Warsaw Stock Exchange.

Following the recent additional issue of 216 million shares, Namsen's share in Kernel's capital increased from 74.05% to 91.61%, and to 93.67%, taking into account the treasury shares.

Kernel agroholding is one of the largest producers and sellers of bottled oil in Ukraine, and is a major producer and exporter of sunflower oil. The company also cultivates agricultural products and sells them.

Kernel swung to net profit of $299 million in fiscal year 2023 from a net loss of $41 million the previous fiscal year. The agroholding saw revenue drop 35% to $3.455 billion in fiscal year 2023, though EBITDA surged 2.5-fold to $544 million in the reporting period.