Statement re press commentary and shareprice move (3229P)

TIDMACHL

RNS Number : 3229P

Asian Citrus Holdings Ltd

30 September 2011

 
 For immediate release   30 September 2011

Asian Citrus Holdings Limited

("Asian Citrus" or "the Group")

Statement re press commentary and share price movement

The Board of Asian Citrus notes the press commentary this morning in the UK surrounding an Anonymous Analytics report linking Chaoda Modern Agriculture (Holdings) Limited ("Chaoda") and Asian Citrus. The Board confirms that Chaoda has an approximately 13% shareholding in Asian Citrus and Fujian Chaoda Group and its subsidiaries have been suppliers of organic fertilizer to Asian Citrus for a number of years on arms length terms. To the best of the Board's knowledge, Fujian Chaoda Group is 95% owned by Mr. Kwok Ho who is the Chairman, Executive Director and substantial shareholder of Chaoda.

Aside from this recent press commentary, the Board confirms that they are not aware of any reasons for the recent decrease in share price and increase in trading volume in both London and Hong Kong.

The Directors also confirm that there are no ongoing material negotiations or agreements relating to intended acquisitions or realisations which may be discloseable under Rule 13.23 of the Hong Kong Listing Rules or the AIM Rules.

For further enquires:

 
 Asian Citrus 
 Eric Sung, Finance Director                  +852 2559 0323 
 
 Seymour Pierce Limited 
 Nandita Sahgal, Jonathan Wright (NOMAD)      020 7101 8000 
 Leti McManus, Richard Redmayne, (Broking) 
 Weber Shandwick Financial                    020 7067 0700 
 Nick Oborne, Stephanie Badjonat, 
  John Moriarty

This information is provided by RNS

The company news service from the London Stock Exchange

END

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