Don Agro allays SGX concerns over sanctions
Sign up now: Get ST's newsletters delivered to your inbox
Russia-based Don Agro stated that its external sanctions counsel has confirmed that the group, including its associated companies, does not have activities that are prohibited transactions under sanctions arising from Russia's invasion of Ukraine.
In its additional statement it furnished to allay the concerns of the Singapore Exchange, the agricultural company said on Sunday that no member of the group and none of its substantial shareholders, directors or executive officers are being sanctioned by Singapore, the United States, Britain, the United Nations, the European Union and Australia.
Also, neither its directors nor its shareholders and key officers are acting on the direction of Russia, its government or the Russian central bank.
Don Agro engages in the cultivation of agricultural crops and production of raw milk in Russia.
The company also said there is no business or other relationship ongoing with any sanctioned entities, sanctioned individuals or the Russian government that is likely to give rise to findings of sanctions violations by Singapore and other jurisdictions mentioned earlier.
The Catalist-listed counter closed flat at 30.5 cents last Friday.
THE BUSINESS TIMES
