China Agri Industries : Disposal of Biochemical and Biofuel Business was approved at the EGM

China Agri-Industries Holdings Limited ('China Agri', HK.00606) held an Extraordinary General Meeting on 15 December 2017 in Hong Kong. The resolution regarding disposal of Biochemical and Biofuel Business was approved by way of poll by independent shareholders.
China Agri's Chairman Mr. YU Xubo hosted the meeting. He expressed the gratitude for the continued support and confidence placed in our Board by shareholders, and discussed the transaction with shareholders during the question and answer session.
Disposal of Biochemical and Biofuel Business is in line with strategic positioning and future development plan of China Agri, Mr. YU said. The decision was made upon the comprehensive considerations, including industry trends, resources required for development, profitability and other characteristics of the disposal target. And China Agri will focus on grains and edible oil businesses in future.
Shareholders approved all four resolutions, including disposal of Biochemical and Biofuel Business, amendment of Non-competition Deed, 2017 Mutual Supply Agreement and director appointment by way of poll. Board members and more than 300 representatives of shareholders attended the meeting.