OREANDA-NEWS. On 10 September 2009 was announced, that Mironivskiy Hliboproduct's (MHPC LI) board approved buying back up to 2,769,250 ordinary shares in the company (not exceeding 2.5% of issued share capital), at a meeting on September 8, the company said in a press release yesterday. The buyback program will be carried out for a period of no more than a year after it receives shareholder approval – an EGM has been scheduled for October 5. MHP plans to use some of the shares purchased under the program for compensation and incentive program; non-used shares will be held in treasury until their resale within the next three years.

Concorde Capital: Mironivskiy Hliboproduct's price has been on an upward trend since March, gaining some 245% for the period. We think the effect of the proposed buyback on the stock price will be quite limited due to the buyback’s low volume and will probably be indiscernible in the general uptrend. The buyback price, though not yet announced, is expected to be somewhat lower than current market price, as it will be determined as an average price for a certain period preceding the buyback announcement.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.