Contact Information: 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
Agria Appoints New Directors
| Source: Agria Corporation
BEIJING--(Marketwire - November 11, 2008) - 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.