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Agria Corporation Message Board

  • kmx_swing kmx_swing Oct 22, 2010 3:41 AM Flag

    Some statements from Dec 2009 fillings

    1)In October 2009, we acquired Nong Ke Yu, a company engaged in research,
    production and marketing of edible corn seeds based in Beijing.
    2)in January 2010, we acquired BeOK, a company engaged in research, production
    and marketing of vegetable seeds based in Tianjin.
    3)Between November 2009 and December 2009, through equity purchases and participation in a rights issue, we invested a total of
    NZ$83.9 million (approximately $60.0 million based on the exchange rate in effect on December 31, 2009), acquiring a 19% stake in PGG Wrightson.
    On January 15, 2010, pursuant to a subscription agreement dated November 18, 2009, we subscribed for convertible redeemable notes
    issued by PGG Wrightson in an aggregate principal amount of approximately NZ$33.9 million (approximately $24.2 million based on the exchange
    rate in effect on December 31, 2009).
    4)Because PRC regulations currently restrict foreign ownership of corn seed companies directly in China, we have no equity ownership
    interest in P3A and Guanli and must rely on contractual arrangements to control and operate them
    5)As of December 31, 2009, we had prepaid all of the rent due under certain leases granting access to approximately 13,500 acres of land.
    The leases have remaining terms of between approximately 10 and 28 years
    6)The majority of our products are upstream products ultimately used by farmers in China.
    7)In October 2009,we entered into an investment agreement with CNAAS and its affiliates to invest RMB35.0 million
    ($5.1 million) into Zhongnong, a company wholly owned by CNAAS and its affiliates
    8)If sales of our self−developed Primalights III hybrid sheep are considered by relevant government authorities to constitute sales of breeder
    sheep, we may be ordered to stop selling Primalights III hybrid sheep and be subject to other penalties.
    9)Our revenues and costs are mostly denominated in Renminbi, while a significant portion of our financial assets are denominated in US
    dollars. Substantially all of our sales contracts are denominated in Renminbi and substantially all of our costs and expenses are denominated in
    Renminbi. We rely entirely on dividends and other fees paid to us by our subsidiaries and our affiliated entity in China
    10)In 2009, sales of seed, sheep
    products and seedling and date products accounted for 60.1%, 21.7% and 17.5%, respectively, of our total revenues.

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