ACHL Asian Citrus

 

TIDMACHL 
 
RNS Number : 4729C 
Asian Citrus Holdings Ltd 
13 November 2009 
 

 
 
 
 
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| For immediate release               |                      13 November 2009 | 
+-------------------------------------+---------------------------------------+ 
 
 
Asian Citrus Holdings Limited 
("Asian Citrus" or "the Company") 
 
 
Proposed Hong Kong listing 
 
 
Asian Citrus, the largest orange plantation owner and the single largest orange 
producer in China, is pleased to announce that on 12 November 2009 the listing 
committee of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock 
Exchange") considered the Company's application for listing (the "Hong Kong 
Listing"). The Company will update certain information contained in the listing 
document to be published by the Company in connection with the Hong Kong Listing 
(the "Listing Document").  Subject to the Hong Kong Stock Exchange confirming no 
further comments on the Listing Document and granting formal listing approval, 
it is expected that dealings in the Company's shares on the main board of Hong 
Kong Stock Exchange will commence on 26 November 2009.  However, the Company is 
unable to guarantee to shareholders that the Hong Kong Listing will necessarily 
occur. 
 
 
The Listing Document is expected to be issued on 23 November 2009 and will be 
available on the Company's website (www.asian-citrus.com) once it has been 
published. Shareholders wishing to move their shares in the Company to the Hong 
Kong branch share register for the purpose of trading on the Hong Kong Stock 
Exchange will be required to fill in a "request for removal" form. A letter to 
shareholders setting out the procedures for moving shares to the Hong Kong 
branch share register, a pro-forma removal request form and a sample of this 
form duly completed are available on the Company's website 
(www.asian-citrus.com) under the "Investor" section. 
 
 
For the purposes of compliance with the Rules Governing the Listing of 
Securities on the Hong Kong Stock Exchange ("Hong Kong Listing Rules") and for 
good corporate governance, the Company also proposes to redesignate Mr. Nicholas 
Smith from non-executive director to independent non-executive director of the 
Company.  The independent non-executive directors will be required to confirm 
annually that each of them satisfies the independence requirements under the 
Hong Kong Listing Rules. 
 
 
The Company will also reorganise the composition of the Audit Committee and the 
Remuneration Committee. The Company's Audit committee will be reconstituted so 
that Mr. Ma Chiu Cheung, Andrew will continue to act as Chairman of the 
committee with Mr. Nicholas Smith and Mr. Yang Zhenhan acting as members. The 
Company's Remuneration committee will be reconstituted so that Mr. Nicholas 
Smith will continue to act as Chairman of the committee with Mr. Ma Chiu Cheung, 
Andrew and Mr. Tong Wang Chow acting as members. 
 
 
 
 
Mr. Tony Tong, Chairman and CEO of Asian Citrus commented: "We are pleased that 
the Hong Kong Listing is progressing well.  We believe that a Hong Kong listing, 
alongside our London quote, will enable us to expand our shareholder base as 
well as improve the liquidity of the Company's shares." 
 
 
 
 
 
 
About Asian Citrus Holdings Limited 
 
 
Asian Citrus Holdings Limited is the largest orange plantation owner and the 
single largest orange producer in China and has two operational plantations in 
the Hepu county of the Guangxi Zhuang Autonomous Region and the Xinfeng county 
of the Jiangxi province of China. Its primary goal is to sell quality oranges at 
an affordable price and in so doing, strengthen its position as a leading, 
mechanised and industrialised orange grower and distributor in China. 
 
 
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| For Further Information Contact:       |                               | 
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|                                        |                               | 
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| Asian Citrus Holdings Limited          |                +852 2559 0323 | 
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| Tony Tong, Chairman and Chief          |                               | 
| Executive Officer                      |                               | 
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| Eric Sung, Finance Director            |                               | 
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|                                        |                               | 
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| Weber Shandwick Financial              |                 0207 067 0700 | 
+----------------------------------------+-------------------------------+ 
| Terry Garrett/John Moriarty/Stephanie  |                               | 
| Badjonat                               |                               | 
+----------------------------------------+-------------------------------+ 
|                                        |                               | 
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| J.P. Morgan Cazenove                   |                 0207 588 2828 | 
+----------------------------------------+-------------------------------+ 
| Michael Wentworth-Stanley/James        |                               | 
| Mitford/Gina Gibson                    |                               | 
+----------------------------------------+-------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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