Yantai North Andre Juice Co., Ltd. : Voluntary Announcement (08/01/2012)
01/08/2012 | 06:49am
Hong Kong Exchanges and Clearing Limited and The Stock
Exchange of Hong Kong Limited take no responsibility for the
contents of this announcement, make no representation as to
its accuracy or completeness and expressly disclaim any
liability whatsoever for any loss howsoever arising from or
in reliance upon the
whole or any part of the contents of this announcement.
ANNOUNCEMENT
This announcement is made on a voluntary basis.
On 14 December 2011, Yantai North Andre Juice Co., Ltd.* (the
"Company") received a notice of arbitration (the "Arbitration
Notice") issued by the ICC International Court of Arbitration
(the "Court"). According to the Arbitration Notice, Agrana
Juice Holding GmbH (previously known as Agrana Juice GmbH)
("Agrana") submitted an arbitration application (the
"Arbitration Application") in respect of a dispute arising
from an Allocation Agreement dated 14 January 2011 between
the Company and Agrana relating to the purchase of the apple
juice concentrate. In the Arbitration Application, Agrana
requests for a sum of USD 9,785,656 (equivalent to RMB
64,551,079) in damages from the Company. The Company will
file an answer to the claim and a counterclaim against Agrana
as soon as possible.
The Company considers that it has reasonable defence to the
claim and will put forward a substantiated counterclaim.
Based on the understanding of the dispute and the proposed
counterclaim against Agrana, the Board believes the
Arbitration Application is unlikely to have material impact
on the financial position of the Group.
The Company will publish further announcement(s) as and when
required under the Listing
Rules.
By order of the Board Yantai North Andre Juice Co., Ltd.*
Wang An
Chairman
Yantai, the PRC, 6 January 2012
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As at the date hereof, the Board comprises:
Mr. Wang An (Executive Director)
Mr. Zhang Hui (Executive Director)
Mr. Lin Wu-Chung (Non-executive Director) Mr. Liu Tsung-Yi
(Non-executive Director) Mr. Jiang Hong Qi (Non-executive
Director)
Ms. Yu Shou Neng (Independent non-executive Director)
Ms. Qu Wen (Independent non-executive Director)
Mr. Gong Fan (Independent non-executive Director)
Mr. Chow Kam Hung (Independent non-executive Director)
* For identification purpose only.
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