Agria Corporation issues statement regarding delisting of shares
Feb. 20, 2017
In consultation with management, legal counsel, and other advisors, the Company's Board of Directors is in the process of evaluating the merits and costs of the alternatives for trading of its shares. The alternatives span a wide range, from becoming a private company to relisting on other trading venues in the US or other jurisdictions. The Board is considering many variables during this process, but holds as its primary objective a decision that is in the best interests of shareholders.
The Company intends to continue to communicate all material developments to its shareholders through normal channels, such as SEC filings and press releases. Unless and until the Company files a Form 15 with the SEC to terminate the registration of its securities and suspend its duty to file reports, the Company remains obligated to comply with all reporting obligations under SEC rules and regulations.
The Company wants to emphasize that current shareholders' ownership rights are completely unchanged. All shareholders retain the full rights of ownership in Agria Corporation, including but not limited to the right to vote on any matters put to a shareholder vote, and the right to any dividends or other distributions made by the Company.
Mr. Alan Lai, Executive Chairman of Agria, commented: "We appreciate our shareholders' patience as we weigh a number of conflicting factors that impact shareholders and chart the next course of action for our Company. Because the next steps will impact shareholders for some time, we are being deliberative and thorough in our decision-making process. I want to assure our shareholders that our highest priority is serving the best interests of the owners of the company. I am the largest shareholder of Agria, so the interests of our Board, management, and shareholders are tightly aligned."
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