GUANGZHOU, China, Dec. 16, 2014 /PRNewswire/ -- Sino Agro Food,
Inc. (OTCQB: SIAF.QB) is an integrated, diversified agriculture
technology and organic food company (the "Company") with principal
operations as primary producer, processor, and marketer in
the People's Republic of China
("PRC").
The Financial Industry Regulatory Authority ("FINRA") approved a
reverse split for Sino Agro Food, Inc.'s common stock, effective
for trading purposes as of the commencement of trading today,
December 16, 2014. The reverse
split ratio is 1 to 9.90. The authorized shares of common stock
have been reduced by the same ratio. Any fractional shares will be
paid out in cash.
The split will mean a proportionate decrease in the number of
SIAF shares, but not the total value of shares held by the
shareholders. Shareholders maintain the same percentage equity in
the Company as before the split.
The reasons for this action are to:
- Avoid SIAF shares being classified as a penny stock,
- Satisfy one of the listing requirements of any U.S. main board
stock exchange,
- Attract investors, particularly institutional shareholders,
and
- Enable Swedish brokers to accommodate trading of SIAF
shares.
The Company's shares will trade under the symbol SIAFD, with the
"D" for a period of 20 business days.
About Sino Agro Food, Inc.
Sino Agro Food, Inc. is an agriculture technology and natural
food holding company with principal operations in the People's Republic of China. The Company
acquires and maintains equity stakes in a cohesive portfolio of
companies that SIAF forms according to its core mission to produce,
distribute, market and sell natural, sustainable protein food and
produce, primarily seafood and cattle, to the rapidly growing
middle class in China. SIAF
provides financial oversight and strategic direction for each
company, and for the interoperation between companies. The Company
owns or licenses patents, proprietary methods, and other
intellectual properties in its areas of expertise. SIAF provides
consulting and services to joint venture partners to construct and
operate food businesses, primarily producing wholesale protein
foods. Further joint ventures market and distribute the wholesale
products as part of an overall "farm to table" concept and business
strategy.
News and updates about Sino Agro Food, Inc., including key
information, are published on the Company's website
(http://www.sinoagrofood.com) and the Company's Facebook page
(www.facebook.com/SinoAgroFoodInc)
Forward Looking Statements
This release may contain forward-looking statements relating to
the business of SIAF and its subsidiary companies. All statements
other than historical facts are forward-looking statements, which
can be identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions. These statements
involve risks and uncertainties that may cause actual results to
differ materially from those anticipated, believed, estimated or
expected. These risks and uncertainties are described in detail in
our filings with the Securities and Exchange Commission.
Forward-looking statements are based on SIAF's current expectations
and beliefs concerning future developments and their potential
effects on SIAF. There is no assurance that future developments
affecting SIAF will be those anticipated by SIAF. SIAF undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required under applicable securities
laws.
Not a Broker/Dealer or Financial Advisor
Sino Agro Food, Inc. is not a Registered Broker/Dealer or a
Financial Advisor, nor does it hold itself out to be a Registered
Broker/Dealer or Financial Advisor. All material presented in this
press release, on the Company's website or other media is not to be
regarded as investment advice and is only for informative purposes.
Readers should verify all claims and conduct their own due
diligence before investing in Sino Agro Food, Inc. Investing in
small-cap, micro cap and penny stock securities is speculative and
carries a high degree of risk.
No Offer of Securities
None of the information featured in this press release constitutes
an offer or solicitation to purchase or to sell any securities of
Sino Agro Food, Inc.
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visit:http://www.prnewswire.com/news-releases/sino-agro-food-inc-effects-reverse-split-300010332.html
SOURCE Sino Agro Food, Inc.