Comments by the Press Service of the Ukrlandfarming Group in Response to the Claim Filed by Gramercy Funds Management LLC

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Gramercy Funds Management LLC has filed a claim with a court of law against this group of companies and its owner, Mr Oleg Bakhmatyuk. We strongly deny those allegations and are ready to defend our case in court.    
 
We are surprised and disappointed by this move on the part of Gramercy Funds Management LLC, with which we have been conducting a constructive dialogue over the past 2.5 years. They are aware that, amid such tough circumstances,  this group is doing its best to save both assets and jobs.  At the same time, it is widely known that the persecution of this group by the Ukrainian law enforcement authorities has caused some of the operating companies to shut down and put employees out of a job.  
 
All our partners know, however, that no assets have been stripped out of this group, all those assets are operating here, in Ukraine. And creditor rights will be honoured in an equitable manner under the respective contracts.   
 
We are ready to defend our rights and the rights of all our creditors through the courts in all relevant jurisdictions. That said, we remain in favour of constructive dialogue. We hope that the story surrounding the claim by Gramercy Funds Management LLC will be adjudicated fairly in a constructive manner by an impartial court of law.