Notification of Shareholding (4996P)
October 04 2011 - 5:00AM
UK Regulatory
TIDMCFC
RNS Number : 4996P
China Food Company PLC
04 October 2011
Press Release 4 October 2011
China Food Company Plc
("China Food" or the "Company")
Notification of Shareholding
China Food Company Plc (AIM:CFC), the leading Chinese
manufacturer and distributor of cooking and dipping sauces, has
been informed that Lam Soon Realty (Pte) Limited ("Lam Soon") has
acquired 1,545,609 Ordinary Shares in the Company.
Lam Soon is a strategic investor who has invested in the Company
since its listing. It is a manufacturing and distribution
conglomerate in the food and consumer sector with an extensive
operating presence in SE Asia.
Pursuant to the acquisition of shares, Lam Soon now holds
4,057,221 Ordinary Shares in the Company. This represents 5.68% of
the total issued ordinary share capital in the Company.
- Ends -
For further information:
China Food Company Plc
John McLean, Non-Executive Chairman Tel: +44 (0) 7768 031
454
Raphael Tham, Chief Executive
www.chinafoodcompany.com
finnCap
Geoff Nash, Nominated Advisor Tel: +44 (0) 20 7600
1658
Numis Securities
David Poutney, Head of Corporate Tel: +44 (0) 20 7260
Broking 1000
Media enquiries:
Abchurch Communications
Henry Harrison-Topham / Joanne Shears Tel: +44 (0) 20 7398
7709
joanne.shears@abchurch-group.com www.abchurch-group.com
Notes to Editors:
China Food is a well-established food manufacturing business
based in Shandong province in the People's Republic of China, a
region with a population of circa 94 million. A recent report
identified Shandong province as one of the five most attractive
'city clusters' in China, due to the high number of large cities in
the province*. The Group manufactures numerous different product
lines including soya sauce and bean paste, all targeting the
Chinese domestic market, and sold through a network of distributors
and outlets of supermarket chains in the north-eastern region of
the PRC, such as Tesco, Walmart, Carrefour and Jialejia.
The Chinese sauces, dressings and condiments market is expected
to be worth CNY115 billion (US$15 billion) by 2013**, driven by
Chinese population growth and economic prosperity. The Chinese
domestic market is rapidly expanding, and the Group is well
positioned to benefit from China's demographic growth and increased
urbanisation.
The first phase of expansion is now complete at the Group's new
factory, which was officially opened on 12 May 2010, and this
doubles China Food's current capacity. It is proposed that in due
course there will be a further two phases, adding capacity of
100,000 tonnes through the building of 230 additional silos. The
Group has achieved ISO22000, ISO9001 and HACCP accreditations for
the new factory, as well as the British Retail Consortium's
Certification of Global Standards for Food Safety in September
2011, and plans to expand into the neighbouring provinces such as
Henan and Hebei.
The Group also operates an animal feed business, Fuss Feed. This
business produces premix, concentrate and compound feedstuffs, and
is the third largest animal feed business in Shandong, an important
province for the production of livestock in China.
The Group's operations are highly scalable and able to support
further growth, and with net assets of GBP37.8 million (as at 30
June 2011), the prospects for China Food are strong. Further
information on China Food Company can be found at
www.chinafoodcompany.com.
*McKinsey Quarterly Report: Is your emerging market strategy
local enough?, April 2011
**Source: Datamonitor report: Sauces, Dressings and Condiments
in China to 2013, April 2010
This information is provided by RNS
The company news service from the London Stock Exchange
END
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