Black Earth Farming Ltd Announces Results of Rights Issue

Black Earth Farming Ltd (BEF) announced that the rights issue in the Company with preferential rights for the Company’s existing holders of Swedish Depository Receipts (SDRs), for which the subscription period ended on December 7, 2012, (the Rights Issue) has been oversubscribed. The Rights Issue will provide BEF with approximately SEK 530 million before issue expenses. Following the Rights Issue, the number of shares (each share represented by one (1) SDR) in BEF will increase by 83,067,778 shares from 124,601,667 shares to a total of 207,669,445 shares and the share capital will increase by USD 830,667.78 from USD 1,246,016.67 to USD 2,076,694.45. A total of 82,202,018 SDRs, corresponding to approximately 99% of the Rights Issue, have been subscribed for with subscription rights and 865,760 SDRs, corresponding to approximately 1% of the Rights Issue, have been subscribed for without subscription rights.