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| As a Vote of Confidence in the Company's Future Development |
HONG KONG, June 29, 2018 - (ACN Newswire) - Ausnutria Dairy Corporation Ltd ("Ausnutria" or the "Company", together with its subsidiaries, the "Group"; stock code: 1717.HK), a company engages in the research and development, production and distribution of all dairy products (including infant formula) and nutrition products with production facilities principally based in the PRC, the Netherlands, Australia and New Zealand, is pleased to announce the direct or indirect increase in stake by Mr. Yan Weibin ("Mr. Yan"), the chairman, Mr. Bartle van der Meer ("Mr. van der Meer"), the Chief Executive Officer, Mr. Wong Wei Hua Derek, the Chief Financial Officer, and several senior management (the "management"), through the acquisition of 81,102,615 shares of Ausnutria held by Dutch Dairy Investments HK Limited ( "DDI HK") which represents 50% of the 162,205,615 shares of Ausnutria currently held by DDI HK. This indicates the management's confidence in the Company's investment value and future development.
The management acquired 81,102,615 shares of Ausnutria (representing 6.09% of the total issued share capital of the Company) from Mr. Jorna Ignatius Petrus ("Mr. Ids"), the original shareholder of DDI HK and one of the original management of Ausnutria Hyproca on 22 June and 28 June 2018 respectively. Total consideration involved amounted to approximately HK$466 million. After the transaction, the shareholding of Mr. Yan and Mr. van der Meer increased from 107,739,085 shares to 119,739,085 shares and from 81,902,615 shares to 125,005,230 shares respectively. Their direct and indirect shareholding ratio rose from 8.09% to 8.99% and from 6.15% to 9.38% respectively. The 81,102,615 shares were acquired by Mr. Ids as a result of the swap of 49% interest in Ausnutria Hyroca in 2015. Mr. Ids was the Chief Executive Officer of Ausnutria Hyroca prior to his retirement in 2012. Based on the understanding by the Company, Mr. Ids made the above disposal due to his own retirement planning.
Ausnutria announced a positive profit alert for the seventh consecutive time in earlier days, indicating the continuous improvement of its performance. The Group's profit attributable to equity holders of the Company in the first quarter of 2018 amounted to approximately RMB100 million, representing an increase of 59.8% when compared with the corresponding period in 2017. The Group recorded revenue of approximately RMB1,200 million, representing an increase of 56.8% when compared with the corresponding period in 2017. These indicate that the effective adjustment and layout centered in own-branded infant formula, improving upstream industry chain and sales network and clear brand position enable the Group to meet the growing market demand, driving the business and investment value of the Group to improve constantly.
Mr. Yan Weibin, Chairman and Executive Director of the Group, said "The active acquisition of Company shares by the management fully demonstrates the core management 's confidence in the international strategic layout, business performance and prospects of Ausnutria and their commitment to supporting the Group's sustainable growth. In the future, we will seize the enormous opportunities brought by national policies, continue our effort in developing the global market, constantly strive for market and consumer recognition with our high-quality products , achieve ever-expanding growth, in order to move further towards our vision - 'To become the most trustworthy milk formula, nutrition and health-care enterprise in the world', as well as consolidate Ausnutria's leading position in the industry and provide shareholders with a sound and long-term return."
Topic: Press release summary
Source: Ausnutria Dairy Corporation Ltd
Sectors: Exchanges & Software, Daily Finance, Food & Beverage
https://www.acnnewswire.com
From the Asia Corporate News Network
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