BNY Mellon Appointed as Depositary Bank by AvangardCo Investments

NEW YORK, May 24 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, has been appointed by AvangardCo Investments (Avangard) as the depositary bank for its global depositary receipt (GDR) program.  Avangard issued 12,500,000 new GDRs.  Each Avangard GDR represents 1/10th of an ordinary share and trades on the London Stock Exchange under the symbol "AVGR."  The Avangard GDRs have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S., absent registration or an applicable exemption from the registration requirements.

Avangard is one of the leading agro-industrial companies in Ukraine, focusing on the production of shell eggs and egg products.  Avangard had a market share of approximately 39% of all industrially produced shell eggs and 52% of all dry egg products produced in Ukraine in 2009.  Avangard's production facilities are located in 14 of the 24 regions of Ukraine and also in the Autonomous Republic of Crimea.  

"We are excited to tap into international investor interest by establishing this DR program," said Oleg Bakhmatyuk, Chairman of Avangard.  "We are particularly confident that BNY Mellon, as the world's leading depositary bank, has the global expertise, institutional stability and personal touch to support our secondary market initiatives and any future capital-raising plans."

"This is the first Ukrainian company to raise capital in DR form in 2010 and we hope this transaction will further heighten the visibility of the Ukrainian market," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business.  "We look forward to working with Avangard's management team to increase their recognition and access to the international investment community, drawing on our industry-leading and global resources."

BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at www.bnymellon.com/dr.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. Learn more at www.bnymellon.com.

This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.

SOURCE BNY Mellon