China Food Company Plc
("China Food" or the "Company")
Application to PLUS for admission of Convertible Loan Notes
China Food is pleased to announce that the Company has applied for the
admission to trading on the PLUS-quoted Market of the Company's A Note
Convertible Loan Notes (the "A Notes"). The A Notes pay a coupon of 10% per
annum and convert into ordinary shares in the Company at a conversion price of
32 pence per ordinary share.
Admission details
Securities to be admitted to PLUS 2,004 A Notes of GBP1,000 each
PLUS sector classification Food Producers
Issuer's registered and trading name China Food Company plc
PLUS Corporate Adviser finnCap Limited
Brief description of the Company
China Food, based in Shandong province in the People's Republic of China, a
region with a population of circa 94 million, operates a group of well
established food manufacturing businesses producing a range of cooking and
dipping sauces. China Food's branded cooking and dipping sauces are sold in
Shandong and the surrounding provinces through a network of distributors and
outlets of supermarket chains such as Tesco, Wal Mart, Carrefour and Jialejia.
The Board expects China Food to benefit from the growth of international
supermarket chains in China. The Company opened its new soya sauce factory in
May 2010. China Food also has an animal feed business, Fuss Feed (Weifang)
Co., Ltd, which produces premix, concentrate and compound feedstuffs. Fuss
Feed is also based in Shandong which is an important province for the
production of livestock in China.
Anticipated admission date
The Directors expect that trading in the Company's A Notes on the PLUS-quoted
Market will commence on 16 June 2010.
1,000 B Note Convertible Loan Notes (the "B Notes") are held by Main World
Investments Limited, a significant shareholder in China Food. Admission to
trading on the PLUS-quoted Market is not being sought for the B Notes.
Copies of the Company's admission document will be available free of charge
during normal business hours on any day (except Saturdays, Sundays and public
holidays) at the offices of Stephenson Harwood, One, St Paul's Churchyard,
London EC4M 8SH, and shall remain available for at least one month after
admission.
Directors
John Nigel Major McLean (Non Executive Chairman) - chairs the audit committee
and sits on the remuneration committee.
Raphael Tham Wai Mun (Chief Executive Officer) - sits on both the audit and
remuneration committees.
Frank Chau Leung Yu (Chief Financial Officer)
Feng Bo (Chief Operating Officer)
Derek Richard Marsh (Non Executive Director) - chairs the remuneration
committee and sits on the audit committee.
For further information:
China Food Company Plc
John McLean, Non Executive Chairman Tel: +44 (0) 7768 031 454
www.chinafoodcompany.com
FinnCap
Geoff Nash / Ed Frisby (Corporate Finance) Tel: +44 (0) 20 7600 1658
Tom Jenkins / Simon Starr (Broking)
Media enquiries
Abchurch Communications
Henry Harrison-Topham / Joanne Shears Tel: +44 (0) 20 7398 7709
henry.ht@abchurch-group.com www.abchurch-group.com
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