BEIJING, Nov 11, 2008 (MARKET WIRE via COMTEX News Network) -- Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), an
innovative China-based agri-solutions provider, today announced that
it has increased the size of its board of directors from seven to
nine directors with the appointment of Lee Joo Hai and Sean Shao as
independent directors of the Company. Mr. Lee will serve as Chairman
of the Corporate Governance and Nominating Committee. Mr. Shao will
serve as Chairman of the Compensation Committee.
Alan Lai, Agria's chairman, said: "We are pleased that Mr. Lee Joo
Hai and Mr. Sean Shao have agreed to join our board of directors. As
we strengthen our board, we expect to benefit from their experience
in assisting Agria's development."
Mr. Lee Joo Hai, 52 years old, has 32 years of accounting and
auditing experience. Mr. Lee joined BDO Patrick Tay & Partners/BDO
International Singapore in 1983, becoming a partner in 1986. He
previously worked at Coopers & Lybrand (Singapore) and at Everett
Chettle & Co. (London). He is a member of the Institute of Chartered
Accountants in England and Wales; Institute of Certified Public
Accountants of Singapore; Malaysian Institute of Accountants; and the
Singapore Institute of Directors. Lee attended the Anglo-Chinese
School (Singapore).
Mr. Sean Shao, 51 years old, has 18 years of experience in financial
and operational management in both publicly-held and private-owned
companies. Mr. Shao has served as chief financial officer of Trina
Solar Limited, ChinaEdu Corporation, and Watchdata Technologies Ltd.
He is currently the Audit Committee Chairman for two publicly-held
companies: China Biologic Products, Inc. and China Public Security
Technology, Inc. Earlier in his career, he was promoted to senior
manager at Deloitte Touche (Beijing) after serving at Deloitte Touche
(Toronto). Mr. Shao is a Certified Public Accountant and holds a
master's degree in health care administration from the University of
California at Los Angeles, and a bachelor's degree in art from East
China Normal University.
About Agria Corporation
Agria Corporation (NYSE: GRO) is an innovative China-based
agri-solutions provider focusing on research and development,
production and distribution of three different types of upstream
agricultural products. Its diversified portfolio of products
comprises corn seeds, sheep breeding and seedlings, including
proprietary products. The Company has access to approximately 27,000
acres of farmland in seven provinces and its extensive distribution
network provides direct or third party distribution in 14 provinces.
For more information about Agria Corporation, please visit
www.agriacorp.com.
Safe Harbor Statement:
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Agria
may also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission on
Forms 20-F and 6-K, etc., in its annual report to shareholders, in
press releases and other written materials and in oral statements
made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements about
Agria's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties.
A number of important factors could cause actual results to differ
materially from those contained in any forward-looking statement.
Potential risks and uncertainties include, but are not limited to,
those risks outlined in Agria's filings with the U.S. Securities and
Exchange Commission. All information provided in this press release
is as of the date of this announcement unless otherwise stated, and
Agria does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
Contacts:
In China:
Matt Feng
Investor Relations
China Tel: 133-1130-0320
matt.feng@agriacorp.com
In the U.S.:
David Pasquale
Senior Vice President
U.S. Tel: +914-337-1117
david.pasquale@agriacorp.com
SOURCE: Agria Corporation
mailto:matt.feng@agriacorp.com
mailto:david.pasquale@agriacorp.com