| UKRAINE BUSINESS NEWS - THREE ARTICLES |
EPAM Systems offering of common stock; The PBN Company merges with Hill+Knowlton Strategies; Astarta (agriculture) & Citibank loan agreement U.S.-Ukraine Business Council (USUBC) 1. EPAM SYSTEMS, INC. COMMENCES INITIAL PUBLIC OFFERING OF COMMON STOCK NEWTOWN, Pennsylvania - EPAM Systems, Inc. (the “Company”) today announced the launch of its initial public offering of 7,400,000 shares of common stock. Subject to market and other conditions, the Company expects to sell 1,517,647 shares of common stock and certain selling stockholders expect to sell an aggregate of 5,882,353 shares of common stock. The Company also expects to grant the underwriters a 30-day option to purchase up to an additional 1,110,000 shares of common stock from the Company to cover over-allotments, if any. The estimated initial public offering price is between $16.00 and $18.00 per share. The Company has applied to list the shares of common on the New York Stock Exchange under the symbol “EPAM.” EPAM Systems, Inc. (the “Company”) today announced the launch of its initial public offering of 7,400,000 shares of common stock. Subject to market and other conditions, the Company expects to sell 1,517,647 shares of common stock and the selling stockholders expect to sell an aggregate of 5,882,353 shares of common stock. The Company also expects to grant the underwriters a 30-day option to purchase up to an additional 1,110,000 shares of common stock to cover over-allotments, if any. The estimated initial public offering price is between $16.00 and $18.00 per share. The Company has applied to list the shares of common stock on the New York Stock Exchange under the symbol “EPAM.” The Company intends to use the net proceeds that it receives from this offering for general corporate purposes, such as for working capital, for acquiring facilities, and for potential strategic acquisitions of, or investments in, other businesses or technologies that it believes will complement its current business and expansion strategies. The Company will not receive any of the proceeds from the sale of common stock by the selling stockholders. Citigroup, UBS Investment Bank, Barclays Capital and RenCap will act as joint book-running managers for the offering, with Stifel Nicolaus Weisel and Cowen and Company acting as co-managers. The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained for free by visiting the Securities and Exchange Commission’s website at www.sec.gov. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Established in 1993, EPAM Systems, Inc. is a leading global IT services provider with delivery centers throughout Central and Eastern Europe. Headquartered in the United States, EPAM employs over 7,000 IT professionals and provides services to clients worldwide using a global delivery model through its client management and delivery operations in the United States, Belarus, Hungary, Russia, Ukraine, UK, Germany, Kazakhstan, Sweden, Switzerland, and Poland. Contacts: EPAM Systems, Inc.; Phone: +1-267-759-9000 ext. 64588; Fax: +1-267-759-8989; E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it You may obtain a copy of the preliminary prospectus by contacting: UBS Investment Bank at UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171, tel: (888) 827-727; Barclays Capital at Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, tel:(888) 603-5847; email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it ; RenCap at RenCap Securities, Inc, 780 3rd Avenue, 20th Floor, New York, NY 10017, USA. USUBC NOTE: Epam Systems and Citigroup are members of the U.S.-Ukraine Business Council (USUBC), Washington, D.C., www.usubc.org. 2. THE PBN COMPANY MERGES WITH HILL+KNOWLTON STRATEGIES NEW YORK, LONDON, MOSCOW, KYIV - The PBN Company, the preeminent strategic communications firm in Russia, Ukraine and the CIS is merging with Hill+Knowlton strategies, the global strategic communications firm with 83 offices in 44 countries. Hill+Knowlton Strategies will operate in Russia, Ukraine, Kazakhstan and throughout the CIS under the brand name PBN Hill+Knowlton Strategies. The merger is the result of WPP (LSE:WPP; NASDAQ:WPPGY) acquiring an additional 25.1% stake in The PBN Company. WPP, which bought 49.9% of the company in 2007, brings their holding in PBN Hill+Knowlton Strategies to 75%. The transaction creates WPP’s first majority-owned, full-service strategic communications firm in the region. PBN’s founders and top executives — Peter B. Necarsulmer, Susan A. Thurman and Myron Wasylyk — will retain a 25% ownership in the new company. “The combined PBN Hill+Knowlton Strategies offers our clients unmatched synergies in experience, wisdom and creativity in the high growth markets of Russia and the former Soviet Union,” said Jack Martin, global Chairman and CEO. “This partnership culminates many years of successful collaboration between Hill+Knowlton Strategies and PBN, and makes eminent good sense for clients of both firms as well as for WPP.” For Hill+Knowlton Strategies and its clients, PBN offers a strong foothold in the emerging CIS markets, particularly in Russia, Ukraine and Kazakhstan. For PBN and its clients, Hill+Knowlton Strategies offers expertise in strengthening client brands and reputations, and opens up a fully integrated global network for regional companies and governments in all key market centers of Europe, Asia and the “Hill+Knowlton Strategies’ leadership of the ‘wisdom business’ now includes one of the world’s most important emerging markets,” said Martin. “PBN’s world class counsel to scores of top companies investing in Russia and other CIS countries has set the standards of strategic communications in the region for more than two decades. PBN’s depth of expertise and relationships with government, the business community and media will serve our clients exceptionally well in this dynamic part of the world.” “PBN’s merger with Hill+Knowlton Strategies is a unique opportunity for our clients and our employees,” said Peter Necarsulmer, Vice Chairman and CEO. “Increasingly our clients based in Russia, Ukraine and the CIS are requiring sophisticated, value-added strategic communications in priority markets around the world. H+K Strategies’ world class talent and international strength combined with The PBN Company provides corporate and crisis communications, government relations, financial communications and marketing communications to both Western companies investing in the CIS and regional companies expanding internationally. The firm’s clients include Abbott, Bank of America Merrill Lynch, BP, Citi, John Deere, Kingfisher, NYSE Euronext, Rosneft, Visa and Xerox, among others. Together PBN Hill+Knowlton Strategies will realize efficiencies in markets where their operations overlapped. In Russia, where both entities had Moscow operations, H+K’s operations will be merged into PBN. In Washington, DC, PBN’s operations will share offices with Hill+Knowlton Strategies. HILL+KNOWLTON STRATEGIES THE PBN COMPANY Established in 1983, The PBN Company is the leading international strategic communications firm specializing in Russia, Ukraine, Kazakhstan, other CIS countries and high-growth emerging markets. PBN helps Western clients design and implement strategies to maximize their investments in the region. PBN also works with emerging market companies to expand their domestic market share and build USUBC NOTE: The PBN Company is a member of the U.S.-Ukraine Business Council (USUBC), Washington, D.C., www.usubc.org. 3. ASTARTA SIGNED A LOAN AGREEMENT WITH CITIBANK KYIV - On January 19th, 2012, a ceremonial event honoring the signing of a long term investment loan from Citibank to ASTARTA took place. The five-year loan for $25 million is a part of a global lending program of Citibank and U.S. Overseas Private Investment Corporation (OPIC). ASTARTA is among first Ukrainian companies to benefit from this program. The company will use the loan facility to modernize existing production capacities including acquisition of modern equipment and machinery. Astarta-Kyiv is an agri-industrial holding and one of the leaders in the Ukrainian sugar sector. We focus our operations on production and sales of sugar from sugar beet, sugar by-products and related services. In 2011 production season we strengthened our leading position as the biggest Ukrainian sugar producer with 16% share of domestic sugar production. Our agricultural business primarily aimed at the growing of the sugar beet by agricultural companies controlled by our Group which is the main raw material for our sugar plants. Thus, we created the value chain on the basis of the vertical integration of business. Due to the necessity of crop rotation in cultivation of the sugar beet we are also involved in growing and selling various grain and oilseed crops. Cattle farming is our additional, non-core activity. Since August 2006 ASTARTA's shares are listed on the Warsaw Stock Exchange. NOTE: Astarta Holding and Citibank are members of the U.S.-Ukraine Business Council (USUBC), Washington, D.C., www.usubc.org. |
