BEIJING--(Marketwire - Jan 8, 2013) - Agria Corporation (
The Reverse Split requires approval of the shareholders of the Company, and will be put up for vote at the next annual general meeting of the Company, which is expected to be held in April 2013. The Company will announce the exact date and agenda of the annual general meeting once they have been determined. The Company expects that the Reverse Split and ADS Ratio Change will be effectuated contingent and simultaneously upon shareholder approval of the Reverse Split.
As a result of the Reverse Split and ADS Ratio Change, the Company expects the price of its ADSs to increase proportionally. Although the purpose of the proposed Reverse Split and ADS Ratio Change is to regain compliance with the minimum average closing price continued listing standard of the NYSE, the Company can give no assurance that this goal will be achieved if the Reverse Split and ADS Ratio Change are approved.
About Agria Corporation
Agria Corporation (
Safe Harbor Statement:
This announcement contains forward-looking statements. These statements, including the management's commentary, 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.