China Food Company PLC Result of AGM (4906G)
June 29 2012 - 6:19AM
UK Regulatory
TIDMCFC
RNS Number : 4906G
China Food Company PLC
29 June 2012
Press Release 29 June 2012
China Food Company Plc
("China Food" or the "Company")
Result of AGM
China Food Company plc (AIM: CFC), a leading Chinese
manufacturer of cooking and dipping sauces, announces that at the
Company's Annual General Meeting held today, all resolutions put to
shareholders were duly passed.
In respect of the sale of the Company's animal feed business,
the Board is pleased to report that significant progress has been
made and will be updating the market shortly.
- Ends -
For further information:
China Food Company Plc
John McLean, Non-Executive Chairman Tel: +44 (0) 7768 031
454
Raphael Tham Wai Mun, Chief Executive
www.chinafoodcompany.com
Numis
David Poutney - Head of Corporate Tel: +44 (0) 20 7260
Broking 1000
finnCap (Nomad)
Geoff Nash / Ben Thompson (Corporate Tel: +44 (0) 20 7220
Finance) 0500
Simon Starr (Broking)
Media enquiries:
Abchurch Communications
Joanne Shears Tel: +44 (0) 20 7398
7700
joanne.shears@abchurch-group.com www.abchurch-group.com
Notes to Editors:
China Food Company, based in Shandong province in the People's
Republic of China, a region with a population of circa 95 million,
operates a group of well-established food manufacturing businesses
producing a range of cooking and dipping sauces. China Food has a
very strong brand for cooking and dipping sauces which are sold
through a network of distributors and outlets of supermarket chains
such as Tesco, Wal Mart, Carrefour and Jialejia in Shandong and
surrounding provinces in Northern China. China Food is expected to
benefit also from the growth of international supermarket chains in
China. The Group recently launched 'Xaka', its premium soya sauce
product, which has been well received by the market. The National
Sports Training Institute of China has selected "Xaka" as the
preferred soya sauce for the Chinese Olympic team attending the
London 2012 Olympics.
The Chinese sauces, dressings and condiments market is growing
significantly, 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, having invested in a new factory
which increases China Food's capacity to 50,000 tonnes of soya
sauce using processes which comply with domestic and international
manufacturing and food safety standards. The Group's strategy is to
become a leader in premium soya sauce in Northern China and to
capitalise on the rapid growth in the increasingly discerning
consumer market.
The Group's operations are highly scalable and able to support
further growth, and with net assets of GBP39 million (as at 31
December 2011), the prospects for China Food are strong. Further
information on China Food Company can be found at
www.chinafoodcompany.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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