MOSCOW--(Business Wire)--
Wimm-Bill-Dann Foods OJSC [NYSE: WBD] announced that the Company intends to
complete a one-to-four Depository Receipt split on November 16, 2009.
Following a resolution by the Board of Directors on October 16, 2009 to amend
its Depository Receipt program, Wimm-Bill-Dann Foods intends to complete a
one-to-four split of its Depository Receipts on November 16, 2009. From this
date, four Depository Receipts will represent one common share. The number of
common shares remains unchanged.
The share split is being carried out in order to increase the liquidity of the
Company`s shares by facilitating the expansion of the shareholder base and
providing existing shareholders with additional flexibility in managing their
portfolios. The stock split is being carried out on a pro-rata basis and applies
to all holders of Depository Receipts and does not have an effect on the
ownership structure of the Company or the total value of its share capital.
Effective date of the proposed split is November 16, 2009.
Some of the information contained in this press release may contain projections
or other forward-looking statements regarding future events or the future
financial performance of Wimm-Bill-Dann Foods OJSC, as defined in the safe
harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.
We wish to caution you that these statements are only predictions and that
actual events or results may differ materially. We do not intend to update these
statements to conform them to actual results. We refer you to the documents
Wimm-Bill-Dann Foods OJSC files from time to time with the U.S. Securities and
Exchange Commission, specifically, the Company's most recent Form 20-F. These
documents contain and identify important factors, including those contained in
the section captioned "Risk Factors" in our Form 20-F, that could cause the
actual results to differ materially from those contained in our projections or
forward-looking statements, including, among others, potential fluctuations in
quarterly results, and risks associated with our competitive environment,
acquisition strategy, ability to develop new products or maintain market share,
brand and company image, operating in Russia, volatility of stock price,
financial risk management, and future growth.
NOTES TO EDITORS
Wimm-Bill-Dann Foods OJSC was founded in 1992 and is the largest manufacturer of
dairy products and a leading producer of juices and beverages in Russia and the
CIS. The company produces dairy products (main brands include: Domik v Derevne,
Neo, 2Bio, 33 Korovy, Chudo and more), juices (J7, Lubimy Sad, 100% Gold),
Essentuki mineral water and Agusha baby food.
The company has 37 manufacturing facilities in Russia, Ukraine, Kyrgyzstan,
Uzbekistan and Georgia with over 16,000 employees. In 2005, Wimm-Bill-Dann
became the first Russian dairy producer to receive approval from the European
Commission to export its products into the European Union.
In 2009, Standard & Poor's Governance Services confirmed on WBD its governance,
accountability, management, metrics, and analysis (GAMMA) score "GAMMA- 7+". The
score reflects the effective work of the Board of Directors and, in particular,
the real influence of independent directors in the decision-making process and
the adherence of the controlling shareholders to the highest standards of
corporate governance.
Wimm-Bill-Dann Foods OJSC
Natalya Belyavskaya, +7 495 925 5805
Fax: +7 495 925 5800
belyavskayand@wbd.ru
or
Wimm-Bill-Dann Foods OJSC
Marina Kagan, +7 495 925 5805
Fax: +7 495 925 5800
kagan@wbd.ru
Copyright Business Wire 2009
