KSA is currently managing its first acquisition target farm on a full and exclusive farm management contract.

This is an agricultural holding group with operational farmland located 350-550 km south of Moscow in the Lipetsk and Voronezh regions.The total area is 80,000 hectares, out of which approximately 42,000 is currently being used for the cultivation of high value crops, but at least 72,000 ha is croppable.

Long term grain purchase contracts are in place for "off take" from large Russian ethyl alcohol distilleries. Additional assets include a large inventory of modern farming machinery and a dairy herd of 2,800 milking cows.  There are two in-house elevators with 61,000 tonnes of storage and the ability to enlarge both sites to accommodate all grain produced.

We have a number of other acquisition targets which we are studying in depth and further details can be found on the website under Investor Relations.