CALENDAR

No. Stage Deadline

1.

Approving the documentation “Request for Proposals for Consultancy Services Relating to a Feasibility Study for AGRI Project” and “Terms of Reference”.

October, 2011

2.

Approving by the General Meeting of Shareholders the commitment to increase the share capital of the Company for the completion of the Feasibility Study for the AGRI Project.

November, 2011

3.

Tendering and selection of the consultant to elaborate the Feasibility Study of the AGRI project.

December 2011 - April 2012

4.

Approving by the General Meeting of Shareholders the increase of share capital of the Company by an amount equal to the value of the contract for performance of the feasibility study for AGRI project, as it will result from the consultant selection process, in accordance with the provisions of the documents „Request for Proposals for Consultancy Services relating to a Feasibility Study for AGRI Project”.

March 2012

5.

Increasing the share capital of the company in view of bearing the costs of the Feasibility Study, according to Completion of the Feasibility Study.

April 2012

6.

Signing of the Contract for Consulting Services with Penspen Limited

28th of June 2012

7.

Completion of the Feasibility Study.

December 2014

8.

General Assembly of Shareholders to discuss the results of Feasibility Study

January – February 2015