|By Marketwire .||
|October 5, 2012 05:39 AM EDT||
BEIJING -- (Marketwire) -- 10/05/12 -- Agria Corporation's (NYSE: GRO) (the "Company" or "Agria") New Zealand listed subsidiary, PGG Wrightson (NZSE: PGW) ("PGW"), has provided notice of its annual shareholders meeting and proposed board changes. The following market announcement can be downloaded from the website: www.pggwrightson.co.nz/OurBusiness/MarketAnnouncements.
The notice of meeting records that Sir Selwyn Cushing, Bill Thomas and Tao Xie (XT) will retire from the board at the meeting. Guanglin Lai (Alan) will also retire by rotation and will stand for re-election.
Sir John Anderson, PGG Wrightson's Chairman, noted the positive contribution and valuable counsel each of the retiring directors had provided during their respective tenures and wished them well for the future on behalf of the board.
Sir Selwyn was appointed to the Wrightson Limited board in 2005 following the acquisition of Williams & Kettle Limited of which he had been a director for more than 20 years. His astute business sense and commercial acumen has been of great assistance to the company. It is pleasing to note that Sir Selwyn has agreed to remain involved with the PGG Wrightson Employee Benefits Plan in his capacity as a trustee.
Bill Thomas originally became a director of Pyne Gould Guinness Limited in 1995 and the company has benefited from his insights and in particular his farming experience. After 17 years as a director for PGG Wrightson and its predecessor companies Bill believes that the time is right to retire.
XT, the Chief Executive of PGG Wrightson's majority shareholder Agria Corporation, was instrumental in the structuring of Agria's acquisition and retires after serving as a director since 30 December 2009.
Sir John noted that a review of the composition and expertise of the PGG Wrightson board was being undertaken. There is a need to maintain farming experience on the PGG Wrightson board and the review would help inform decisions made in relation to future director appointments.
PGG Wrightson is this year introducing the option for shareholders to vote on shareholder meeting business online and by post. These options are set out in the notice of meeting and would provide shareholders with more flexibility and convenience where they cannot attend in person or by proxy but wish to register their votes on meeting business.
About Agria Corporation
Agria Corporation (NYSE: GRO) is an agricultural company with operations in China and internationally. Agria operates three principal business lines: China seeds, international seeds and agriservices. In China, Agria engages in research and development, production and sale of seed products, including field corn seeds, edible corn seeds and vegetable seeds. Agria owns through Agria Asia a 50.22% equity interest in PGG Wrightson, New Zealand's largest agricultural services company. PGG Wrightson reported turnover of NZ$1.34 billion (US$1.10 billion) for the 12 months ended June 30, 2012. For more information about PGG Wrightson, please visit www.pggwrightson.co.nz. 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.