Company History

Landkom was founded in 2005 by a team who formed the initial management team.  This management team has undergone significant restructuring in 2008 and 2009. The once prosperous agriculture industry of western Ukraine had deteriorated and diminished through lack of investment and out dated farming techniques.

In early 2007, Landkom was incorporated in the Isle of Man with subsidiaries established in Cyprus and Ukraine.  This was followed in April 2007 by a pre-IPO funding round of US$13.8 million from institutional investors.  The IPO which raised an additional $111 million from institutional investors followed in November 2007.  In March 2008 a secondary placing was carried out which raised $22 million of new funds.

The proceeds of the initial rounds of financing were used to develop the business, advance the land lease acquisition programme, purchase modern machinery, develop professional farming infrastructure and prepare land for cultivation.

More recently secondary placings were carried out in March 2009 and November 2009 which together raised $21 million.  The funds raised were used for working capital purposes.  Ukraine was particularly badly hit by the global credit crunch and working capital financing practically disappeared from the market place.  Funds raised in November 2009 put Landkom in a strong position to take advantage of opportunities going forward with a new, revitalised management team.