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Agria Information Update

Date:2019/11/26

For Agria Shareholders Information Only

 

IMPORTANT NOTICE: Agria filed Form 15 deregistration statement on March 19, 2019As a result of this filing and as from June 18, 2019, Agria’s reporting obligations with the SEC, including its obligations to the file annual reports on Form 20-F and reports on Form 6-K, have been suspended immediately.  This announcement is for the general information of the shareholders only and the Company takes no obligation to update or correct any statements.  The Company does not give or make any warranty or representation of any kind, whether express or implied, including, without limitation, any representation or warranty about the accuracy, reliability, quality, currency, timeliness, availability, correctness or completeness of such information. The Company does not assume and disclaim any and all responsibility, legal or otherwise for your investment decision.  If you are in any doubt about this announcement, you should consult your independent adviser.

 

HONG KONG, November 26, 2019 - Agria Corporation (“Agria” or “the Company”), today make the following announcement:

 

Recent Developments

The Company’s former Chief Financial Officer Mr John Fulton has resigned from the Company. 

 

In the month and as of June 2019, the Company has disposed of its loss making business more particularly described as in our 20F filing for FY 2018 as Other, which includes our business in China and all related subsidiaries referred to the 20F as China Victory.

 

The yearly appointment of auditors with KPMG has expired.  The Company has appointed WSC Partnership Chartered Accountants as the new auditors of the Company.

 

PGW Return of Capital

The Company has received an approximately New Zealand Dollars NZ$103 million by way of return of the capital from the Company’s investment in PGW this week.  The proceeds has been applied substantially to discharge long outstanding syndicate banking obligations and other indebtedness of the Company. 

 

No Dividend or Share Repurchase

The Company does not propose any dividend or share repurchase.

 

Future Development

The Company is now an investment holding company holding through its intermediate subsidiary an interest of approximately 44.33% in PGG Wrightson Limited (NZSE: PGW, “PGW”) as a result of the Company’s divestment agreement with Ngai Tahu and  sale of a certain parcel of shares in PGW to a third party. 

 

PGW has ceased to be a subsidiary of the Company.

 

As of now, the Company retains the substantially the whole of its investment in the remaining investment in PGW.  Shareholders are encouraged to monitor the Company’s investment in PGW through its public announcement on NZ stock exchange.

 

 

 

 

 

 

 

About Agria Corporation

 

For more information about Agria Corporation, please visit www.agriacorp.com.

 

Contact:

 

Email: contact@agriacorp.com 


Keywords: Agria  Announcement  August  2019 

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