UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934
Filed
by the Registrant
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by a Party other than the Registrant
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Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted by Rule 14a- 6(e)(2) )
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material Pursuant to §240.14a-12
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CHINA GREEN AGRICULTURE, INC.
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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Payment of Filing Fee (Check the appropriate box):
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No fee required.
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Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
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Aggregate number of securities to which transaction applies:
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Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
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Proposed maximum aggregate value of transaction:
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
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Date Filed:
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May 18, 2016
Dear Stockholder:
On behalf of the Board
of Directors of China Green Agriculture, Inc. (the “Company” or “we”), I invite you to attend our Annual
Meeting of Stockholders for the fiscal year ended June 30, 2015 (the “Annual Meeting”). We hope you can join us. The
Annual Meeting will be held:
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At:
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Shaanxi Techteam Jinong Humic Acid Product Co., Ltd.
Xi’an Office, 3F, Borough A, Block A
No. 181, South Taibai Road, Xi’an, Shaanxi Province, People’s
Republic of China 710065
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The Notice of Annual
Meeting of Stockholders, the proxy statement, the proxy card, and our 2015 Annual Report accompany this letter.
At the Annual Meeting,
we will report on important activities and accomplishments of the Company and review the Company’s financial performance
and business operations. You will have an opportunity to ask questions and gain an up-to-date perspective on the Company and its
activities, and to meet certain directors and key executives of the Company.
As discussed in the
enclosed proxy statement, the Annual Meeting will also be devoted to (i) the election of directors, and (ii) the consideration
of any other business matters properly brought before the Annual Meeting.
We know that many of
our stockholders will be unable to attend the Annual Meeting. We are soliciting proxies so that each stockholder has an opportunity
to vote on all matters that are scheduled to come before the stockholders at the Annual Meeting. Whether or not you plan to attend,
please take the time now to read the proxy statement and vote via the Internet or, if you prefer, submit by mail a paper copy of
your proxy or voter instructions card, so that your shares are represented at the meeting. You may also revoke your proxy or voter
instructions before or at the Annual Meeting. Regardless of the number of Company shares you own, your presence in person or by
proxy is important for quorum purposes and your vote is important for proper corporate action.
Thank you for your
continuing interest in China Green Agriculture, Inc. We look forward to seeing you at the Annual Meeting.
If you have any questions
about the proxy statement, please contact us at China Green Agriculture, Inc., 3rd Floor, Borough A, Block A. No. 181, South Taibai
Road, Xian, Shaanxi Province, People’s Republic of China 710065.
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Sincerely,
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/s/ Tao Li
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Tao Li
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Chief Executive Officer
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TABLE OF CONTENTS
CHINA GREEN AGRICULTURE, INC.
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
to be held on
June 28, 2016
To the Stockholders of CHINA GREEN AGRICULTURE, INC.:
Notice is hereby given
that the Annual Meeting of Stockholders (the “Annual Meeting”) of China Green Agriculture, Inc., a Nevada corporation
(the “Company”), will be held on Tuesday, June 28, 2016, at 10:00 p.m., E.T. (June 29, 2016 at 10:00 a.m. local time),
at the headquarters of our wholly-owned subsidiary Shaanxi Techteam Jinong Humic Acid Product Co., Ltd. at 3F, Borough A, Block
A, No. 181, South Taibai Road, Xi’an, Shaanxi Province, People’s Republic of China, 710065, for the following purposes:
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1.
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To
elect five persons to the Board of Directors of the Company, each to serve until the next annual meeting of stockholders of the
Company or until such person shall resign, be removed or otherwise leave office; and
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2.
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To transact such other business as may properly come before the Annual Meeting or any adjournment thereof.
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Only stockholders of
record at the close of business on May 2, 2016 (the “Record Date”), are entitled to notice and to vote at the Annual
Meeting and any adjournment or postponement thereof. In accordance with the rules of the Securities and Exchange Commission, we
will post our proxy materials on the Internet beginning on May 18, 2016, the date we will mail Notices of Internet Availability
of Proxy Materials (and, to the extent required or appropriate, full sets of proxy materials) to the holders of record and beneficial
owners of our common stock as of the close of business on the Record Date.
A proxy statement describing
the matters to be considered at the Annual Meeting is attached to this Notice. Our 2015 Annual Report accompanies this notice,
but it is not deemed to be part of the proxy statement.
It is important
that your shares are represented at the Annual Meeting. We urge you to review the attached proxy statement and, whether or not
you plan to attend the Annual Meeting in person, please vote your shares promptly by casting your vote via the Internet or, if
you receive a full set of proxy materials by mail or request one be mailed to you, and prefer to mail your proxy or voter instructions,
please complete, sign, date, and return your proxy or voter instructions card in the pre-addressed envelope provided, which requires
no additional postage if mailed in the United States. You may revoke your vote by submitting a subsequent vote over the Internet
or by mail before the Annual Meeting, or by voting in person at the Annual Meeting.
If you plan to attend
the meeting, please notify us of your intentions. This will assist us with meeting preparations. If your shares are not registered
in your own name and you would like to attend the Annual Meeting, please follow the instructions contained in the Notice of Internet
Availability of Proxy Materials and any other information forwarded to you by your broker, trust, bank, or other holder of record
to obtain a valid proxy from it. This will enable you to gain admission to the Annual Meeting and vote in person.
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By Order of the Board of Directors,
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/s/ Tao Li
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Tao Li
Chairman of the Board
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May 18, 2016
CHINA GREEN AGRICULTURE, INC.
3
rd
Floor, Borough A, Block A. No. 181
South Taibai Road, Xi’an, Shaanxi Province
People’s Republic of China 710065
INFORMATION CONCERNING SOLICITATION AND
VOTING
This proxy statement
and the accompanying proxy are being furnished with respect to the solicitation of proxies by the Board of Directors of China Green
Agriculture, Inc., a Nevada corporation (the “Company” or “we”), for our Annual Meeting of Stockholders
for fiscal year ended June 30, 2015 (the “Annual Meeting”). The Annual Meeting will be held on Tuesday, June 28, 2016,
at 10:00 p.m., E.T. (June 29, 2016 at 10:00 a.m. local time), and at any adjournment(s) or postponement(s) thereof, at the headquarters
of our wholly-owned subsidiary, Shaanxi Techteam Jinong Humic Acid Product Co., Ltd. located at 3F, Borough A, Block A, No. 181,
South Taibai Road, Xi’an, Shaanxi Province, People’s Republic of China, 710065.
The date on which the
proxy statement and form of proxy card are intended to be sent or made available to stockholders is May 18, 2016.
The purposes of the
Annual Meeting are to seek stockholder approval of the following proposal: electing five (5) directors to our Board of Directors
(the “Board”). We will also transact such other business as may properly come before the Annual Meeting or any adjournment
thereof.
Who May Vote
Only stockholders of
record of our common stock, par value $.001 per share, as of the close of business on May 2, 2016 (the “Record Date”)
are entitled to notice and to vote at the Annual Meeting and any adjournment or adjournments thereof.
A list of stockholders
entitled to vote at the Annual Meeting will be available at the Annual Meeting and for ten days prior to the Annual Meeting, during
office hours, at our executive offices located at 3rd Floor, Borough A, Block A. No. 181, South Taibai Road, Xian, Shaanxi Province,
People’s Republic of China, 710065, by contacting our Chief Financial Officer.
The presence at the
Annual Meeting of one-third of the outstanding shares of our common stock as of the Record Date, in person or by proxy, is required
for a quorum. Should you submit a proxy or voter instructions, even though you abstain as to one or more proposals, or you are
present in person at the Annual Meeting, your shares shall be counted for the purpose of determining if a quorum is present.
Broker “non-votes”
are not included for the purposes of determining whether a quorum of shares is present at the Annual Meeting. A broker “non-vote”
occurs when a nominee holder, such as a brokerage firm, bank or trust company, holding shares of record for a beneficial owner
does not vote on a particular proposal because the nominee holder does not have discretionary voting power with respect to that
item and has not received voting instructions from the beneficial owner.
As of May 2, 2016,
we had issued and outstanding 36,978,605 shares of our common stock. Each record holder of our common stock on the Record Date
is entitled to one vote for each share then held on all matters to be voted at the Annual Meeting. No other class of voting securities
was then outstanding.
Voting Your Proxy
You may vote by proxy
over the Internet by following the instructions provided in the Notice of Internet Availability of Proxy Materials mailed to you
or your household. If you have received printed copies of the proxy materials by mail, or if you request printed copies of the
proxy materials by mail by following the instructions on the Notice of Internet Availability of Proxy Materials, you can also vote
by mail by completing, dating, and signing the proxy or voter instructions card and mailing it in the pre-addressed envelope provided,
which requires no additional postage if mailed in the United States. You may submit your vote over the Internet until 11:59pm,
ET, on June 27, 2016. If you vote by mail, please be aware that we can recognize your vote only if we receive it by close of business
on the day before the Annual Meeting.
You may also vote in
person at the Annual Meeting. If your shares are held through a broker, trust, bank, or other nominee, please refer to the Notice
of Internet Availability of Proxy Materials and any other information forwarded to you by such holder of record to obtain a valid
proxy from it. You will need to bring this legal proxy with you to the Annual Meeting in order to vote in person.
The shares represented
by any proxy duly given will be voted at the Annual Meeting in accordance with the instructions of the stockholder. If no specific
instructions are given, the shares will be voted as follows:
FOR the election of
the nominees for the directors named in this proxy statement.
In addition, if other
matters come before the Annual Meeting, the persons named in the accompanying form of proxy will vote in accordance with their
best judgment with respect to such matters.
Each share of our common
stock outstanding on the Record Date will be entitled to one vote on all matters. Under Proposal 1 (Election of Directors), the
five candidates proposed for election as directors at the Annual Meeting are uncontested. In uncontested elections, directors are
elected by majority of the votes cast at the Annual Meeting. In counting the votes cast, only those cast “for” and
“against” a matter are included. Please note that you cannot vote “against” a nominee for director, although
you may withhold your vote from a nominee.
Shares which abstain
or which are withheld from voting as to a particular matter, and shares held in “street name” by brokers or nominees
who indicate on their proxies that they do not have discretionary authority to vote such shares as to a particular matter, will
not be counted as votes in favor of such matter, and will also not be counted as shares voting on such matter. Accordingly, abstentions,
withheld votes, and “broker non-votes” will have no effect on the voting on matters that require the affirmative vote
of a plurality or a majority of the votes cast or the shares voting on the matter.
Stockholders have no
cumulative voting rights or dissenter’s or appraisal rights relating to the matters to be acted upon at the Annual Meeting.
Revoking Your Proxy
Even if you submit
a proxy or voter instructions, you may revoke your proxy and change your vote. You may revoke your proxy or voter instructions
by submitting a new proxy or voter instructions over the Internet by using the procedure to vote your shares online described in
the Notice of Internet Availability of Proxy Materials. You may also revoke your proxy by mail by requesting a copy be mailed to
you, executing a subsequently dated proxy or voter instructions card, and mailing it in the pre-addressed envelope, which requires
no additional postage if mailed in the United States. You may also revoke your proxy by your attendance and voting in person at
the Annual Meeting. Mere attendance at the meeting will not revoke a proxy or voter instructions. We will vote the shares in accordance
with the directions given in the last proxy or voter instructions submitted in a timely manner before the Annual Meeting. You may
revoke your vote over the Internet until 11:59 pm, ET, on June 27, 2016. If you revoke your vote by mail, please be aware that
we can recognize the revoked vote only if we receive it by close of business on the day before the Annual Meeting.
If the Annual Meeting
is postponed or adjourned for any reason, at any subsequent reconvening of the Annual Meeting, all proxies will be voted in the
same manner as the proxies would have been voted at the original convening of the Annual Meeting (except for any proxies that have
at that time effectively been revoked or withdrawn), even if the proxies had been effectively voted on the same or any other matter
at a previous meeting.
You are requested,
regardless of the number of shares you own or your intention to attend the Annual Meeting, to vote your shares as described above.
Solicitation of Proxies
We will pay the expenses
relating to the solicitation of proxies. We may solicit proxies by mail, and our officers and employees may solicit proxies personally
or by telephone and will receive no extra compensation from such activities. We will reimburse brokerage houses and other nominees
for their expenses incurred in sending proxies and proxy materials to the beneficial owners of shares held by them.
Delivery of Proxy Materials to Households
Only one copy of the
our 2015 Annual Report, this proxy statement, and/or Notice of Internet Availability of Proxy Materials, as applicable, will be
delivered to an address where two or more stockholders reside with the same last name or whom otherwise reasonably appear to be
members of the same family based on the stockholders’ prior express or implied consent.
We will deliver promptly
upon written or oral request a separate copy of the 2015 Annual Report, this proxy statement, and/or Notice of Internet Availability
of Proxy Materials, as applicable, upon such request. If you share an address with at least one other stockholder, currently receive
one copy of our annual report, proxy statement, and/or Notice of Internet Availability of Proxy Materials at your residence, and
would like to receive a separate copy of our annual report, proxy statement, and Notice of Internet Availability of Proxy Materials
for our future stockholder meetings, please follow the instructions for requesting materials indicated on the Notice of Internet
Availability of Proxy Materials sent to your residence and specify this preference in your request.
If you share an address
with at least one other stockholder and currently receive multiple copies of annual reports, proxy statements, or Notices of Internet
Availability of Proxy Materials, and you would like to receive a single copy of annual reports, proxy statements, or Notices of
Internet Availability of Proxy Materials, please follow the instructions for requesting materials indicated on the Notice of Internet
Availability of Proxy Materials sent to you and specify this preference in your request.
Interest of Officers and Directors in Matters to Be Acted
Upon
None of our officers
or directors has any interest in any of the matters to be acted upon at the Annual Meeting, except to the extent that a director
is named as a nominee for election to the Board or a director.
PROPOSAL
1
ELECTION OF DIRECTORS
General
Our Bylaws provide
that our Board of Directors shall be comprised of not less than one (1) director nor more than nine (9) directors, and directors
are elected annually at the annual shareholders meeting. The Board of Directors is currently comprised of five (5) directors and
will be comprised of five (5) directors effective immediately following the election if all the nominees are elected.
The Board of Directors
has nominated for election five (5) persons as directors. Each nominee currently serves as one of our directors. All of the nominees
have consented to serve as directors. If a nominee should not be available for election as contemplated, the proxy holders will
vote for a substitute designated by the current Board of Directors. We are not aware of any nominee who will be unable or who will
decline to serve as a director.
Directors Nominees
Director
Nominee
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Position/Title
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Age*
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Served From
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Tao Li
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Chairman of the Board of Directors
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50
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2007– Present
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Ale Fan
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Director
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35
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2015– Present
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Yiru Shi
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Director
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43
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2011– Present
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Chairman of the Audit Committee
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Compensation Committee Member
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Nominating Committee Member
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Lianfu Liu
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Director
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77
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2007– Present
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Chairman of the Nominating Committee
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Audit Committee Member
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Compensation Committee Member
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Jianlei Shen
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Director
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53
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2015– Present
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Chairman of the Compensation Committee
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Audit Committee Member
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Nominating Committee Member
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*As of the date of this proxy statement.
For information as
to the shares of our common stock beneficially owned by each nominee, see the section “Securities Ownership of Certain Beneficial
Owners and Management”, and as to other Board matters, see the section “Board Information.”
The following are biographical summaries
for our nominees for election as directors:
Tao Li
Chairman of the Board of Directors, Chief Executive Officer and President since December 26, 2007. Mr. Li has served as
the President and CEO of Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd., our wholly-owned subsidiary (“Jinong”),
since 2000. Mr. Li established Xi’an TechTeam Industry (Group) Co., Ltd. in 1996 and established Jinong in 2000. Mr. Li is
also currently the Chairman of Kingtone Wirelessinfo Solution Holding Ltd, a NASDAQ listed company. He graduated from Northwest
Polytechnic University in Xi’an, China with a Master’s degree in heat and metal treatment. Mr. Li is the current Vice
Chairman of the China Green Food Association. Previously, he has held positions at the World Bank Loan Office of China Education
Commission, National Key Laboratory for Low Temperature Technology, and Northwest Polytechnic University. Mr. Li is active in Shaanxi
Province business and trade organizations including as a member of the CPPCC Shaanxi Committee, the Shaanxi Provincial Decision-Making
Consultation Committee, Vice Chairman of the Shaanxi Provincial Federation of Industry and Commerce, Vice President of the Shaanxi
Overseas Friendship Association, Vice Chairman of the Shaanxi Provincial Credit Association, Vice Chairman of the Shaanxi Provincial
Youth Entrepreneurs Association, Vice Chairman of the Xi’an Municipal Federation of Industry and Commerce and Vice Chairman
of the Xi’an Municipal Youth Entrepreneurs Association. Mr. Li, as the founder of our company, has been critical to our success
and his experience brings to the board of directors an irreplaceable perspective with respect to our business and the industry
in which we compete. These attributes make Mr. Li an ideal candidate to serve as our Chairman.
Ale Fan
,
Director since 2015. Ms. Fan had served as the Director of Finance at Jinong since January 2013. She has also served as comptroller
of the financial department at Jinong from September 2007 to December 2012. Prior to that, she worked as an accountant at Jinong
from August 2003. Ms. Fan holds a degree in Accounting from Baoji University of Arts and Sciences. We believe that Ms. Fan’s
knowledge of the Company’s history and day-to-day operations and her experience in accounting and finance in the PRC qualify
her to serve a director of our company.
Jianlei Shen
,
Director, Chairman of Compensation Committee, Audit Committee Member and Nominating Committee Member. Mr. Shen has four years of
experience in online sales of agriculture materials. He has been working on developing an national e-commerce transaction platform
of fertilizer since 2011. He worked on integrating fertilizer producers with online financial service and distributors in order
to help the fertilizer producers survive and transit with the development of the e-commerce in the Chinese agriculture industry.
Prior to that, Mr. Shen was working in China Medical Instrument Company(CMIC), and he was in charge of the enterprise information-based
construction, including the development of the national medical apparatus and instruments online sales platform. Before that, Mr.
Shen worked in the State Pharmaceutical Administration. Mr. Shen also worked at the Ministry of Science and Technology from 1991
to 1997. He graduated with a Master’s degree in industrial engineering from Changchun University of Technology in 2000. We
believe Mr. Shen’s extensive e-commerce experience in agriculture industry qualifies Mr. Shen to serve as an independent
director of our company.
Lianfu Liu
,
Director, Chairman of Nominating Committee, Audit Committee Member and Compensation Committee Member. Mr. Liu has served as a director
of our company since December 26, 2007. Mr. Liu has served as the Chairman of the China Green Food Association since 1998. From
1992 to 1998, Mr. Liu was a Director and Senior Engineer for the China Green Food Development Center. Prior to that, Mr. Liu was
a Vice Director of the PRC Ministry of Agriculture. Mr. Liu graduated from Beijing Forestry University and studied soil conservation.
We believe Mr. Liu's experience in the agricultural industry in the PRC allows him to bring a unique perspective as an independent
director of our company.
Yiru Shi,
Director,
Chairman of the Audit Committee, Compensation Committee Member and Nominating Committee Member. Ms. Shi has served as a director
of our company since December 9, 2011. Ms. Shi previously served as an independent director for Kingtone Wirelessinfo Solution
Holding Ltd (Nasdaq: KONE) from March 2010 to July 2011. Prior to that, Ms. Shi served as Chief Financial Officer at China Infrastructure
Construction Inc. from December 2009 to October 2010 and Chief Financial Officer at Shengtai Pharmaceutical Inc. from 2008 to December
2009. Prior to that, Ms. Shi served as Audit Manager at Kabani & Co. Inc. from 2005 to 2008. Ms. Shi graduated from the University
of California, Irvine with an MBA degree in 2003 and Beijing Polytechnic University in 1997 with a Bachelor’s degree in Computer
Science and International Trade and Business. Ms. Shi is a CPA in the United States and is fluent in English and Chinese. We believe
Ms. Shi’s technical accounting background, strong academic credentials and substantial experience as a director and officer
of other public companies qualifies Ms. Shi to serve on, and be a significant addition to, our Board of Directors.
Vote Required and Board of Directors’ Recommendation
Assuming a quorum is present, the affirmative
vote of a plurality of the votes cast at the Meeting, either in person or by proxy, is required for the election of a director.
For purposes of the election of directors, abstentions and broker non-votes will have no effect on the result of the vote.
THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS
THAT YOU VOTE
FOR
THESE NOMINEES.
EXECUTIVE OFFICERS OF THE COMPANY
Executive Officers
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Position/Title
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Age*
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Tao Li
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Chief Executive Officer
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50
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Zhuoyu Li (Richard)
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President
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24
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Ken Ren
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Chief Financial Officer
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39
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* As of the date of this proxy statement.
The following is the
biographical summary of our executive officers other than Mr. Tao Li’s biographical summary which is set forth above with
the director nominees.
Ken Ren
.
Mr. Ren has served as the Chief Financial Officer of our company since April 23, 2010. Prior to joining our company, he served
as a capital market analyst for the Federal Home Loan Bank of Des Moines since April 2009, where he analyzed, priced, and assisted
in trading investments and issuing debt, conducted hedges and performed relative value analysis in the bank’s capital market
group. From March 2008 to April 2009, Mr. Ren served as a senior investment associate at an asset management subsidiary of Wells
Fargo, which provides money management services to institutional clients. Prior to that, Mr. Ren served as a portfolio analyst
at Risk, Valuation and Analytics department, GMAC-ResCap from January 2007 through December 2007, where he was responsible for
risk analytics in managing the credit residual portfolio. He worked in the ABS task force for Commerzbank from December 2007 to
March 2008. Mr. Ren received a Ph.D. degree in Operations Research in 2006, and a M.S. degree in Computational Finance in 2004,
both from Purdue University. We believe Mr. Ren is a good fit to serve as our Chief Financial Officer, given his credentials mentioned
above.
Mr. Zhuoyu Li (Richard)
.
24. Mr. Li has four years of experience in agricultural industry. Prior to joining the Company, Mr. Li has served as Chief Operating
Officer at the Company’s affiliate, 900LH.com Food Co., Ltd. (“900LH.com”) since January 2016. From January 2015
to January 2016, Mr. Li served as a senior manager at the international department of 900LH.com, where he helped to develop the
international market. Richard served as a senior manager at the customer center of 900LH.com from March 2013 through January 2015.
He studied business at the University of Auckland in 2012. We believe Richard’s practical experience from 900LH.com will
be a great addition to the Company.
SECURITY OWNERSHIP OF CERTAIN
BENEFICIAL OWNERS AND MANAGEMENT
The following table
sets forth certain information as of May 2, 2016, the record date, with respect to the beneficial ownership of our common stock,
the sole outstanding class of our voting securities, by (i) any person or group owning more than 5% of each class of voting securities,
(ii) each director, (iii) each executive officer and (iv) all executive officers and directors as a group.
As of May 2, 2016,
an aggregate of 36,978,605 shares of our common stock were outstanding.
Title of Class
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Name and Address of Beneficial Owners
(1)
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Amount and
Nature of
Beneficial
Ownership
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Percent of
Class
(2)
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Greater Than 5% Shareholders
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Common Stock
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Tao Li
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10,662,695
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(3)
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28.8
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%
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Directors and Executive Officers
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Common Stock
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Tao Li
President, Chief Executive Officer
and Chairman of the Board
|
|
|
10,662,695
|
|
|
|
28.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
|
Ken Ren
Chief Financial Officer
|
|
|
680,000
|
|
|
|
1.8
|
*
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
|
Yiru Shi
Director
|
|
|
60,000
|
|
|
|
—
|
*
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
|
Jianlei Shen
Director
|
|
|
0
|
|
|
|
—
|
*
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
|
Ale Fan
Director
|
|
|
0
|
|
|
|
—
|
*
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
|
Lianfu Liu
Director
|
|
|
81,000
|
|
|
|
—
|
*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All executive officers and directors as a group
|
|
|
11,483,695
|
|
|
|
31.1
|
%
|
* Represents a percentage that is less than 1%.
|
(1)
|
Unless
otherwise stated, each beneficial owner has sole power to vote and dispose of the shares and the address of such person is c/o
China Green Agriculture, Inc., 3rd Floor, Borough A, Block A. No. 181, South Taibai Road, Xian, Shaanxi Province, People’s
Republic of China 710065.
|
|
(2)
|
In
determining the percent of common stock owned by the beneficial owners, (a) the numerator is the number of shares of common stock
beneficially owned by such owner, including shares the beneficial ownership of which may be acquired, within 60 days upon the
exercise of the options, if any, held by the owner; and (b) the denominator is the sum of (i) the total 36,978,605 shares of common
stock outstanding as of May 2, 2016, and (ii) the number of shares underlying the options, which such owner has the right to acquire
upon the exercise of the options within 60 days (for those who have options), if any.
|
|
(3)
|
Includes
(i) 497,387 shares held by Mr. Li’s wife, and (ii) 897,387 shares held by Mr. Li’s son. Mr. Li disclaims beneficial
ownership with respect to the shares held by his wife and son.
|
EXECUTIVE COMPENSATION
Compensation Discussion and Analysis
Overview
This section contains
a discussion of the material elements of compensation awarded to, earned by or paid to our principal executive officer, our principal
financial officer, and our other executive officers whose total compensation exceeded $100,000 during the fiscal year ended June
30, 2015. Accordingly, our “Named Executive Officers” are Mr. Tao Li, our Chairman and Chief Executive Officer, and
Mr. Ken Ren, our Chief Financial Officer.
Our Board established
the Compensation Committee to assist with the analysis and determination of the compensation structure for our executive officers.
Our Compensation Committee, consisting of three independent directors, reviews and approves, or in some cases recommends for the
approval of the full Board, the annual compensation for our executive officers. Typically, management recommends to the Compensation
Committee compensation package proposals based on prevailing compensation standards in our industry, which in turn reviews and
approves such proposals. Our Compensation Committee may consult with the executive officers to form consensus on such packages.
Our executive officers may discuss any disagreements and needed amendment to such proposals with our Compensation Committee before
such proposals are finalized and approved by the Compensation Committee.
Compensation Objectives
Our compensation objectives are as follows:
|
·
|
We
strive to provide competitive executive compensation programs that will help to attract highly qualified individuals necessary
for our continued growth. Once an executive is hired, our goal is to retain and motivate them to achieve higher levels of performance
and be appropriately rewarded for that effort.
|
|
·
|
Compensation and benefits are competitive with the local labor markets in which we compete, and focus also will be given to companies that operate in the agriculture, feed, and fertilizer industries. Peer companies will typically have annual revenues that are one-half to double that of us, for the purposes of compensation benchmarking.
|
|
·
|
We provide an executive compensation package consisting of base salary, incentives (short term & long term), and benefits that are consistent with similar positions at our recognized competitors. Each component addresses individual and company performance with a focus on long-term profitable growth and shareholder return, competitive conditions, and our overall financial performance.
|
|
·
|
All compensation programs are administered without regard to race, religion, national origin, color, sex, age, or disability, and adhere to all local laws and regulations.
|
Elements of Compensation
Base Salary
Our approach is to
pay our executives a base salary that is competitive with those of other executive officers in similar positions and with similar
responsibilities in our peer group of competitive companies. We believe that a competitive base salary is a necessary element of
any compensation program that is designed to attract and retain talented and experienced executives. We also believe that attractive
base salaries can motivate and reward executives for their overall performance.
Stock-Based Awards under the Equity
Incentive Plan
In addition to base
salary, the other key component of executive compensation we provide to our Named Executive Officers is equity-based compensation.
In October 2009, our Board adopted our 2009 Equity Incentive Plan (the “Plan”), which was approved by our shareholders
at our annual shareholders meeting in December 2009 and amended in December 2012, December 2013 and June 2015. The Plan gives us
the ability to grant stock options, stock appreciation rights (SARs), restricted stock and other stock-based awards to employees
or consultants of our company or of any subsidiary of our company and to non-employee members of our advisory board or our Board
or the board of directors of any of our subsidiaries. The Board and the Compensation Committee believe the ability to grant restricted
stock, stock options and make other stock-based awards under the Plan is an important factor in attracting, stimulating and retaining
qualified and distinguished personnel with proven ability and vision to serve as employees, officers, consultants or members of
the Board or advisory board of our company and our subsidiaries, and to chart our course towards continued growth and financial
success.
During the year ended
June 30, 2014, effective September 28, 2013, the Compensation Committee granted (i) 480,000 shares of restricted stock to Mr. Tao
Li, the Company’s CEO; (ii) 200,000 shares of restricted stock to Mr. Ken Ren, the CFO, (iii) 40,000 shares of restricted
stock to Mr. Yizhao Zhang, 30,000 shares of restricted stock to Ms. Yiru Shi, and 20,000 shares of restricted stock to Mr. Lianfu
Liu, each is an independent director of the Company; and (iv) 980,000 shares of restricted stock to 420 employees (the “Stock
Grants”). The Stock Grants are subject to time-based vesting schedules, vesting in various installments until March 31, 2014
for the CFO and the three independent directors, until March 31, 2015 for the CEO and until December 31, 2015 for the employees.
On September 30, 2014,
the Company granted an aggregate of 1,750,000 shares of restricted stock under the Plan to certain executive officers, directors
and employees, among which (i) 240,000 shares of restricted stock to Mr. Tao Li, the CEO; (ii) 100,000 shares of restricted stock
to Mr. Ken Ren, the CFO, (iii) 40,000 shares of restricted stock to Mr. Yizhao Zhang, 30,000 shares of restricted stock to Ms.
Yiru Shi, and 20,000 shares of restricted stock to Mr. Lianfu Liu, each an independent director of the Company; and (iv) 1,320,000
shares of restricted stock to key employees. The stock grants are subject to time-based vesting schedules, vesting in various installments
until March 31, 2015 for the CFO and the three independent directors, until June 30, 2015 for the CEO and until December 31, 2016
for the employees.
Employee Stock Purchase Plan
On August 9, 2012 the
Board adopted the Company’s 2012 Employee Stock Purchase Plan (the “ESPP”), which became effective as of such
date. The Board adopted the Company’s Third Amended and Restated Employee Stock Purchase Plan (the “Restated ESPP”)
on May 15, 2015. The Restated ESPP reserved a total of 3,750,000 shares of Common Stock, including 1,250,000 shares of Common Stock
that was increased the third time. Shareholder approval is not required with respect to the issuance under the ESPP pursuant to
Sections 303A.08 or 312.03 of the NYSE Listed Company Manual. The ESPP has been delegated to be administered by the Compensation
Committee since October 19, 2012. Any employee of the Company or any parent (if any) and subsidiary corporation of the Company
(the “Affiliate”), who is not a natural person resident in the United States, who has been in the employ of the Company
or any Affiliate for such continuous period as required by the Board preceding the grant of rights under the ESPP is eligible to
participate in the ESPP during the applicable offering period, subject to administrative rules established by the Compensation
Committee.
The ESPP is implemented
by sequential offerings, the commencement and duration of which are determined by the Compensation Committee. The purchase price
at which each share of Common Stock may be acquired in an offering period upon the exercise of all or any portion of a purchase
right are established by the Compensation Committee. However, the purchase price on each purchase date shall not be less than the
fair market value of a share of Common Stock on the purchase date.
During the fiscal year
ended June 30, 2014, the Company firstly issued 118,778 shares of common stock at the market price of $4.42 per share to Mr. Tao
Li ($525,000 in total), the Company’s Chairman and Chief Executive Officer under the ESPP on September 26, 2013. The Company
then issued 533,165 shares of common stock at the market price of $2.35 per share to certain employees enrolled in the ESPP ($1,252,938
in total) on May 26, 2014. During the year ended June 30, 2015, the Company issued 1,362,495 shares of common stock to its employees
under the ESPP for cash of $2,946,746 and the Company issued 326,483 shares of common stock to its Chairman, Mr. Li, for cash proceeds
of $626,847 under the ESPP.
Retirement or Pension Benefits
Currently, we do not
provide any company sponsored retirement benefits to any employee, including the Named Executive Officers.
Deferred Compensation
We do not have any qualified or nonqualified
deferred compensation plans.
Perquisites
Historically, we have provided our Named
Executive Officers with minimal perquisites and other personal benefits that we believe are reasonable. We do not view perquisites
as a significant component of compensation, but do believe they can be useful in attracting, motivating and retaining the executive
talent for which we compete. We believe that these additional benefits assist our Named Executive Officers in performing their
duties and provide time efficiencies for them. It is expected that our historical practices regarding perquisites will continue
and will be subject to periodic review by our Board.
Compensation Committee Report on Executive Compensation
The following report
has been submitted by the Compensation Committee of our Board of Directors:
The Compensation Committee
of our Board of Directors has reviewed and discussed our Compensation Discussion and Analysis with management. Based on this review
and discussion, the Compensation Committee recommended to our Board of Directors that the Compensation Discussion and Analysis
be included in our definitive proxy statement on Schedule 14A for our annual meeting for fiscal year ended June 30, 2015, as filed
with the Commission.
|
Compensation Committee of the Board of Directors
|
|
Respectfully submitted,
|
|
|
|
/s/ Jianlei Shen, Chairman
|
|
/s/ Yiru Shi
/s/ Lianfu Liu
|
The foregoing Compensation
Committee Report does not constitute soliciting material or to be “filed” with the Commission or subject to Regulation
14A or 14C (17 CFR 240.14a-1 through 240.14b-2 or 240.14c-1 through 240.14c-101), other than as provided in Item 407 of Regulation
S-K, or to the liabilities of section 18 of the Exchange Act (15 U.S.C. 78r) and shall not be deemed filed or incorporated by reference
into any other filing of our company under the Securities Act or the Exchange Act, except to the extent we specifically incorporate
this Compensation Committee Report by reference therein.
Summary of Executive Compensation
The following table sets
forth information concerning cash and non-cash compensation we and/or Jinong paid to our principal executive officer and our other
most highly paid executive officer (the “named executive officers”) for services rendered in all capacities during
the noted periods. No other executive officers received total annual salary and bonus compensation in excess of $100,000 during
each of the three fiscal years ended June 30, 2015, 2014 and 2013.
SUMMARY COMPENSATION TABLE
Name
and
Principal
Position
|
|
Year Ended
|
|
Salary
($)
|
|
|
Bonus
($)
|
|
|
Stock
Awards
($)
(1)
|
|
|
Option
Awards
($)
|
|
|
Non-Equity
Incentive Plan
Compensation
($)
|
|
|
Nonqualified
Deferred
Compensation
Earnings ($)
|
|
|
All Other
Compensation
($)
|
|
|
Total
($)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tao Li
Chief Executive Officer, former President and Chairman of the Board
|
|
June 30, 2015
|
|
$
|
300,000
|
|
|
$
|
36,000
|
|
|
$
|
504,000
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
$
|
840,000
|
|
|
|
June 30, 2014
|
|
$
|
300,000
|
|
|
$
|
36,000
|
|
|
$
|
2,054,400
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
$
|
2,390,400
|
|
|
|
June 30, 2013
|
|
$
|
300,000
|
|
|
$
|
36,000
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
$
|
336,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ken Ren
Chief Financial Officer
|
|
June 30, 2015
|
|
$
|
160,000
|
|
|
$
|
16,800
|
|
|
$
|
210,000
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
$
|
386,800
|
|
|
|
June 30, 2014
|
|
$
|
160,000
|
|
|
$
|
16,800
|
|
|
$
|
856,000
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
$
|
1,032,800
|
|
|
|
June 30, 2013
|
|
$
|
160,000
|
|
|
$
|
16,800
|
|
|
$
|
656,000
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
$
|
832,800
|
|
|
(1)
|
The amounts reported in this column reflect the fair value on the grant date of the restricted stock awards granted to our Named Executive Officers. These values are determined by multiplying the number of shares granted by the closing price of our common stock on the trading day immediately preceding the grant date. The dollar amounts do not necessarily reflect the dollar amounts of compensation actually realized or that may be realized by our Named Executive Officers.
|
The Company has not used
a compensation consultant to determine or recommend the amount or form of executive or director compensation but its management
believes that its executive officer compensation package is comparable to similar businesses in our location of operations.
Grants of Plan-Based Awards
The following table sets
forth information regarding grants of awards to Named Executive Officers during the year ended June 30, 2015:
GRANTS OF PLAN-BASED AWARDS
|
|
|
|
|
Estimated Future Payouts
Under
Non-Equity Incentive Plan
Awards
|
|
|
Estimated Future Payouts Under
Equity Incentive Plan Awards
|
|
|
All
Other
Stock
Awards:
Number
of
Shares
of
Stock or
|
|
|
All
Other
Option
Awards:
Number
of
Securities
Underlying
|
|
|
Exercise
or
Base
Price of
Option
|
|
|
Grant
Date
Fair
Value
of Stock
and
Option
|
|
Name
|
|
Grant
Date
|
|
|
Threshold
($)
|
|
|
Target
($)
|
|
|
Maximum
($)
|
|
|
Threshold
(#)
|
|
|
Target
(#)
|
|
|
Maximum
($)
|
|
|
Units
(#)
|
|
|
Options
(#)
|
|
|
Awards
($ /Sh)
|
|
|
Awards
($)(1)
|
|
Tao Li
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
240,000
|
|
|
—
|
|
|
$
|
2.10.
|
|
|
$504,000
|
|
Ken Ren
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
100,000
|
|
|
|
—
|
|
|
$
|
2.10
|
|
|
$
|
210,000
|
|
|
(1)
|
|
With respect to the restricted stock awards, the grant date fair value is calculated by multiplying the number of shares granted by the closing price on the trading day immediately preceding the grant date.
|
Narrative Disclosure to Summary Compensation Table and Grants
of Plan-Based Awards Table
Employment Agreements
The following is a summary
of the material terms of the written employment by and between Jinong and Mr. Tao Li.
Tao Li.
Pursuant
to an employment agreement between Jinong and Mr. Tao Li dated January 16, 2008, Mr. Li is employed by Jinong as its Chairman of
the Board and Chief Executive Officer for a term of five years. The agreement will be automatically renewed on the same terms and
conditions for successive additional five-year periods unless either party provides written notice of termination at least 60 days
prior to the end of any five-year term. No such written notice was provided by either party at the end of the initial term under
the agreement. The agreement is terminable immediately, or upon 30-days prior written notice, upon the occurrence of certain events.
The agreement provides for an annual salary of RMB 60,000 (approximately $8,508).
Description of Plan Based Awards
The equity incentive awards
reported in the above table entitled “Grants of Plan Based Awards” were granted under, and are subject to, the terms
of our 2009 Equity Incentive Plan, as amended (the “Plan”). The Plan is administered by the Compensation Committee.
The Compensation Committee has authority to interpret the plan provisions and make all required determinations under the Plan.
With respect to all restricted
stock grants disclosed herein, if we terminate the grantee’s employment or affiliation with us for any reason, all unvested
portions of such restricted stock grants are forfeited. Any shares of restricted stock that do not vest for failure to meet the
requisite performance targets will also be forfeited.
With respect to all non-qualified
stock option grants disclosed herein, if we terminate the grantee’s employment or affiliation with us for any reason, all
unvested options are forfeited. If the grantee’s employment or affiliation with us is terminated voluntarily by the grantee
or by us for cause, all vested options are also terminated. In the event we terminate the grantee’s employment or affiliation
with us without cause, the grantee has the lesser of ninety (90) days or the remaining term of the option to exercise any vested
options. If we terminate the grantee’s employment or affiliation with us due to death or disability, the grantee has the
lesser of twelve (12) months or the remaining term of the option to exercise any vested options. In the case of non-qualified options
subject to performance based vesting, any options which do not vest for failure to meet the requisite performance targets will
be forfeited.
Outstanding Equity Awards at Fiscal Year
End
The following table provides
information on all restricted stock and stock option awards held by our Named Executive Officers as of June 30, 2015.
OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END
|
|
Option Awards
|
|
|
Stock Awards
|
|
Name
|
|
Number of
Securities
Underlying
Unexercised
Options
(#)
Exercisable
|
|
|
Number of
Securities
Underlying
Unexercised
Options
(#)
Unexercisable
|
|
|
Equity
Incentive
Plan
Awards:
Number of
Securities
Underlying
Unexercised
Unearned
Options
(#)
|
|
|
Option
Exercise
Price
($)
|
|
|
Option
Expiration
Date
|
|
|
Number
of
Shares
or Units
of Stock
That
Have
Not
Vested
(#)
|
|
|
Market
Value of
Shares
or Units
of Stock
That
Have
Not
Vested
($)
|
|
|
Equity
Incentive
Plan
Awards:
Number
of
Unearned
Shares,
Units or
Other
Rights
That
Have Not
Vested
(#)
|
|
|
Equity
Incentive
Plan
Awards:
Market
or
Payout
Value of
Unearned
Shares,
Units or
Other
Rights
That
Have Not
Vested
($)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tao Li
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
$
|
—
|
|
|
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ken Ren
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
$
|
—
|
|
|
|
—
|
|
|
$
|
—
|
|
Option Exercises and Stock Vested During the Fiscal Year
OPTION EXERCISES AND STOCK VESTED DURING
THE FISCAL YEAR
|
|
Option Awards
|
|
|
Stock Awards
|
|
Name
|
|
Number of
Shares
Acquired on
Exercise
(#)
|
|
|
Value Realized
on Exercise
($)
|
|
|
Number of
Shares
Acquired
on Vesting
(#)
|
|
|
Value Realized
on Vesting
($)
|
|
Tao Li
|
|
|
—
|
|
|
|
—
|
|
|
|
666,000
|
|
|
$
|
1,188,880
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ken Ren
|
|
|
—
|
|
|
|
—
|
|
|
|
100,000
|
|
|
$
|
181,000
|
(2)
|
(1)
|
|
Represents the vesting of (i) 226,000 shares of restricted stock on September 30, 2014 with a market value of $1.98per share on such date, (ii) 250,000 shares of restricted stock on December 31, 2014 with a market value of $1.52 per share on such date, and (iii) 130,000 shares of restricted stock on March 31, 2015 with a market value of $1.76 per share on such date. (iv) 60,000 shares of restricted stock on June 30, 2015 with a market value of $2.12 per share on such date.
|
|
|
|
(2)
|
|
Represents the vesting of (i) 50,000 shares of restricted stock on September 30, 2014 with a market value of $1.98 per share on such date, (ii) 25,000 shares of restricted stock on December 31, 2014 with a market value of $1.52 per share on such date, and (iii) 25,000 shares of restricted stock on March 31, 2015 with a market value of $1.76 per share on such date.
|
Securities Authorized for Issuance Under Equity Compensation
Plans
As of June 30, 2015, there were no outstanding
options to purchase any shares of common stock granted under the Plan. Options granted in the future under the Plan are within
the discretion of our Board or our compensation committee. The following table summarizes the number of shares of our common stock
authorized for issuance under our equity compensation plans as of June 30, 2015.
Plan category
|
|
Number of
securities to
be issued upon
exercise
of outstanding
options,
warrants and
rights
(a)
|
|
|
Weighted-average
exercise price of
outstanding
options,
warrants and
rights
(b)
|
|
|
Number of
securities
remaining
available for
future issuance
under
equity
compensation
plans (excluding
securities reflected in
column (a))
(c)
|
|
Equity compensation plans
approved by security holders
|
|
|
—
|
|
|
$
|
—
|
|
|
|
4,208,807
|
|
Equity compensation plans not
approved by security holders
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Total
|
|
|
—
|
|
|
$
|
—
|
|
|
|
4,208,807
|
|
Payments upon Termination or Change-in-Control
The following table reflects amounts payable
to our Named Executive Officers (1) assuming their employment was terminated without cause on June 30, 2015, and (2) assuming a
change in control on June 30, 2015.
Name
|
|
Termination
Without
Cause
(1)
|
|
|
Change in
Control
(2)
|
|
Tao Li
|
|
$
|
794
|
|
|
$
|
1,411,920
|
(3)
|
(1)
|
|
Represents the payment made pursuant to contractual agreements with the Named Executive Officer as described below in this subsection.
|
(2)
|
|
Amounts in this column reflect the value of unvested restricted stock that would be accelerated upon a change of control. The amounts are calculated based on the closing market price of a share of our common stock on June 30, 2015, i.e., $2.12 per shares, multiplied by the number of unvested shares.
|
|
|
|
(3)
|
|
Represents the vesting of 666,000 shares of restricted stock.
|
Employment Agreements
Tao Li.
Pursuant
to the terms of Mr. Li’s employment agreement with Jinong, Jinong may terminate Mr. Li’s employment for any reason
upon 30 days prior written notice, in which case no termination payment is due. Alternatively, Jinong may terminate his employment
immediately upon the payment of one month’s salary. In the case of termination for cause as defined therein, we may terminate
Mr. Li’s employment immediately without pay.
2009 Equity Incentive Plan Change in Control Provisions
In the event of a change
in control of our company, and except as otherwise set forth in the applicable award agreement, all unvested portions of awards
shall vest immediately. Awards, whether or not then vested, shall be continued, assumed, or have new rights as determined by our
Compensation Committee or a committee of the Board designated to administer the Plan, and restrictions to which any shares of restricted
stock or any other award granted prior to the change in control are subject shall not lapse. Awards shall, where appropriate at
the discretion of the Committee, receive the same distribution of our common stock on such terms as determined by the Compensation
Committee. Upon a change in control, the Committee may also provide for the purchase of any awards for an amount of cash per share
of common stock issuable under the award equal to the excess of the highest price per share of our common stock paid in any transaction
related to a change in control of our company over the exercise price of such award.
Director Compensation
The following table sets
forth information concerning cash and non-cash compensation we paid to our directors during the fiscal year ended June 30, 2015.
Name
|
|
Fees
Earned
or
Paid in
Cash
($)
|
|
|
Stock
Awards
($)
(1)
|
|
|
Option
Awards
($)
|
|
|
Non-Equity
Incentive
Plan
Compensation
($)
|
|
|
Non-Qualified
Deferred
Compensation
Earnings
($)
|
|
|
All
Other
Compensation
($)
|
|
|
Total
($)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Yizhao Zhang
(former director until June 29, 2015)
|
|
$
|
26,000
|
|
|
$
|
84,000
|
(2)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
0
|
|
|
|
84,000
|
|
Yiru Shi
|
|
$
|
26,000
|
|
|
$
|
63,000
|
(2)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
0
|
|
|
|
63,000
|
|
Lianfu Liu
|
|
$
|
26,000
|
|
|
$
|
42,000
|
(2)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
0
|
|
|
|
42,000
|
|
Jianlei Shen
(3)
|
|
|
N/A
|
|
|
|
N/A
|
|
|
|
N/A
|
|
|
|
N/A
|
|
|
|
N/A
|
|
|
|
N/A
|
|
|
|
N/A
|
|
Ale Fan
(3)
|
|
|
N/A
|
|
|
|
N/A
|
|
|
|
N/A
|
|
|
|
N/A
|
|
|
|
N/A
|
|
|
|
N/A
|
|
|
|
N/A
|
|
(1)
|
|
The amounts reported in this column reflect the fair value on the grant date of the restricted stock awards granted to our directors. These values are determined by multiplying the number of shares granted by the closing price of our common stock on the trading day immediately preceding the grant date. The dollar amounts do not necessarily reflect the dollar amounts of compensation actually realized or that may be realized by our directors.
|
(2)
|
|
Represents 40,000, 30,000, 20,000 shares of restricted shares to three independent directors respectively which granted by the Company on September 30, 2014.
|
|
|
|
(3)
|
|
The director’s appointment was effective on June 30, 2015. Consequently, there are no applicable numbers to be filled our herein.
|
The directors will also be reimbursed for all
of their out-of-pocket expenses in traveling to and attending meetings of the Board and committees on which they serve.
Compensation Committee Interlocks and Insider Participation
The members of the Compensation Committee during the fiscal year
ended June 30, 2015 were Ms. Yiru Shi and Messrs. Jianlei Shen and Lianfu Liu. During the fiscal year ended June 30, 2015:
|
·
|
none of the members of the Compensation Committee was an officer (or former officer) or employee of our company or any of its subsidiaries;
|
|
·
|
none of the members of the Compensation Committee had a direct or indirect material interest in any transaction in which we were a participant and the amount involved exceeded $120,000;
|
|
·
|
none of our executive officers served on the compensation committee (or another board committee with similar functions or, if none, the entire board of directors) of another entity where one of that entity’s executive officers served on our Compensation Committee;
|
|
·
|
none of our executive officers was a director of another entity where one of that entity’s executive officers served on our Compensation Committee; and
|
|
·
|
none of our executive officers served on the compensation committee (or another board committee with similar functions or, if none, the entire board of directors) of another entity where one of that entity’s executive officers served as a director on our Board.
|
CORPORATE GOVERNANCE
Independence of the Board of Directors
Our Board is currently composed of five (5)
members. Jianlei Shen, Yiru Shi and Lianfu Liu qualify as independent directors in accordance with the published listing requirements
of the New York Stock Exchange (“NYSE”). The NYSE independence definition includes a series of objective tests, such
as that the director is not, and has not been for at least three years, one of our employees and that neither the director nor
any of his or her family members has engaged in various types of business dealings with us. In addition, as further required by
NYSE rules, our Board has made an affirmative determination as to each independent director that no relationships exist which,
in the opinion of our Board, would interfere with the exercise of independent judgment in carrying out the responsibilities of
a director. In making these determinations, our directors reviewed and discussed information provided by the directors and us with
regard to each director’s business and personal activities as they may relate to us and our management. Our directors hold
office until their successors have been elected and qualified or their earlier death, resignation or removal.
Board Meetings
The Board held four meetings,
by telephone, in the fiscal year ended June 30, 2015. In addition, the Board unanimously approved fourteen written consents on
matters between meetings. During the fiscal year ended June 30, 2015, each incumbent director attended at least 75% of the aggregate
number of meetings of the Board and applicable committee meetings (held during the period for which he or she was a director) on
which he or she served. We do not have a formal policy regarding attendance by members of the Board at the annual meeting of stockholders,
but we encourage all members of the Board to attend the meetings.
Promoters and Certain Control Persons
We did not have any promoters
at any time during the past five fiscal years.
Except as set forth in
our discussion above, none of our directors or executive officers has been involved in any transactions with us or any of our directors,
executive officers, affiliates or associates which are required to be disclosed pursuant to the rules and regulations of the SEC.
Board Committees
Our Board of Directors
has established the following three standing committees which, pursuant to delegated authority, perform various duties on behalf
of and report to the Board of Directors: (i) Audit Committee, (ii) Compensation Committee and (iii) Nominating Committee. From
time to time, the Board of Directors may establish other committees.
Audit Committee
The Audit Committee is
responsible for: (i) overseeing the corporate accounting and financial reporting practices; (ii) recommending the selection of
our registered public accounting firm; (iii) reviewing the extent of non-audit services to be performed by the auditors; and (iv)
reviewing the disclosures made in our periodic financial reports. The members of the Audit Committee are Messrs. Jianlei Shen,
Lianfu Liu and Ms. Yiru Shi, each of whom is an independent director within the meaning of the rules of the NYSE and Rule 10A-3
promulgated by the SEC under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In addition, the
Board has determined that Ms. Shi qualifies as an Audit Committee Financial Expert under applicable SEC Rules. The Chairman of
the Audit Committee is Ms. Shi. The Audit Committee held four meetings during the fiscal year ended June 30, 2015. The Audit Committee
carries out its responsibilities in accordance with the terms of its Audit Committee Charter, a copy of which was attached as Annex
A to our Definitive Proxy Statement on Schedule 14A for our 2010 Annual Meeting, filed with the SEC on October 28, 2010, and is
also available on our website at
www.cgagri.com
.
Compensation Committee
The Compensation Committee
determines matters pertaining to the compensation of executive officers and other significant employees, and administers our stock
and incentive plans. The members of the Compensation Committee are Messrs. Jianlei Shen, Lianfu Liu and Ms. Yiru Shi. The Chairman
of the Compensation Committee is Mr. Shen. The Compensation Committee held one meeting during the fiscal year ended June 30, 2015.
Each of the members of the Compensation Committee is a “non-employee director” within the meaning of Rule 16b-3 under
the Exchange Act, and an “outside director” within the meaning of Section 162(m) under the Internal Revenue Code. The
Compensation Committee carries out its responsibilities pursuant to a written charter, a copy of which was attached as Annex C
to our Definitive Proxy Statement on Schedule 14A for our 2009 annual meeting, filed with the SEC on October 28, 2009, and is also
available on our website at
www.cgagri.com
.
Nominating Committee
The Nominating Committee
identifies and nominates candidates to serve on our Board. The members of the Nominating Committee are Messrs. Jianlei Shen, Lianfu
Liu and Ms. Yiru Shi. The Chairman of the Nominating Committee is Mr. Liu. The Nominating Committee held one meeting during the
fiscal year ended June 30, 2015. A copy of our Nominating Committee Charter was attached as Annex B to our Definitive Proxy Statement
on Schedule 14A for our 2010 annual meeting, filed with the SEC on October 28, 2010, and is also available on our website at
www.cgagri.com
.
See “Director Nominations” below for the procedures for the nomination of directors.
Board Leadership Structure and Board’s
Role in the Oversight of Risk Management
Our Board believes it is
important to select our Chairman and our Chief Executive Officer in the manner it considers in the best interests of our company
at any given point in time. Due to Mr. Li’s substantial experience in the industry, our Board has determined that the most
effective leadership structure for our company is for Mr. Li to serve as both our Chairman and Chief Executive Officer. Our Board
benefits from the Chairman having direct knowledge of the operations of, and opportunities and challenges facing, our business
on a regular and company-wide basis. Mr. Li’s combined role as Chairman and Chief Executive Officer fosters greater communication
between the Board and management and provides unified leadership for carrying out our company’s strategic initiatives and
business plans.
To counterbalance the potential
for ineffective Board oversight, we have adopted a governance structure that includes: (i) a designated lead independent director;
(ii) annual elections of directors by a majority of votes cast at the annual meeting of shareholders; (iii) committees composed
entirely of independent directors; and (iv) established corporate governance and ethics guidelines. Our Board appointed Ms. Yiru
Shi to serve as the Board’s lead independent director. The lead independent director acts as an intermediary between the
Board and senior management. Among other things, the lead independent director is responsible for facilitating communication among
directors and between the Board and the Chief Executive Officer, working with the Chief Executive Officer to provide an appropriate
information flow to the Board, and chairing executive sessions of the independent directors. Executive sessions of our independent
directors occur following regularly scheduled quarterly audit committee meetings, and at such other times as the independent directors
deem appropriate. However, the Board recognizes that circumstances may change over time and as they do, changes to the leadership
structure may be warranted.
The Board has an active
role, directly and through its committees, in the oversight of our risk management efforts. The Board carries out this oversight
role through several levels of review. The Board regularly reviews and discusses with members of management information regarding
the management of risks inherent in the operations of our businesses and the implementation of our strategic plan, including our
risk mitigation efforts.
In accordance with corporate
governance standards of the NYSE, the Audit Committee charter assigns to that committee the responsibility to review our policies
and practices with respect to risk assessment and risk management, including major financial risk exposures, and the steps management
has taken to monitor and control such exposures. Additionally, each of the Board’s committees also oversees the management
of our risks that are under each committee’s areas of responsibility. For example, the Audit Committee oversees management
of accounting, auditing, external reporting, internal controls, and cash investment risks. The Nominating Committee oversees our
compliance policies, Code of Conduct, conflicts of interests, director independence and corporate governance policies. The Compensation
Committee oversees risks arising from compensation practices and policies. In this manner the Board is able to coordinate its risk
oversight.
Director Nominations
The Nominating Committee
recommends director candidates and will consider for such recommendation director candidates proposed by management, other directors
and stockholders. All director candidates will be evaluated based on the criteria identified below, regardless of the identity
of the individual or the entity or person who proposed the director candidate.
The selection of director
nominees includes consideration of factors deemed appropriate by the Corporate Governance and Nominating Committee and the Board.
We may engage a firm to assist in identifying, evaluating, and conducting due diligence on potential board nominees. Factors will
include integrity, achievements, judgment, intelligence, personal character, any prior contact or relationship between a candidate
and a current or former director or officer of our company, the interplay of the candidate’s relevant experience with the
experience of other Board members, the willingness of the candidate to devote adequate time to Board duties and the likelihood
that he or she will be willing and able to serve on the Board for a sustained period. The Corporate Governance and Nominating Committee
will consider the candidate’s independence, as defined by the rules of the SEC and the NYSE. In connection with the selection,
due consideration will be given to the Board’s overall balance of diversity of perspectives, backgrounds, and experiences.
Experience, knowledge, and skills to be represented on the Board include, among other considerations, financial expertise (including
an “audit committee financial expert” within the meaning of the SEC’s rules), financing experience, related industry
experience, strategic planning, business development, and community leadership.
Code of Ethics
We have adopted a Code
of Ethics that applies to all of our employees and officers, and the members of our Board of Directors, which was amended and restated
in 2010. The Amended and Restated Code of Ethics (the “Code of Ethics”) is available on our website at
www.cgagri.com
.
Printed copies are available upon request without charge. Any amendment to or waiver of the Code of Ethics will be disclosed on
our website promptly following the date of such amendment or waiver.
Corporate Governance Guidelines
We have adopted a Code
of Ethics that applies to all of our employees and officers, and the members of the Board, which was amended and restated in 2010.
The Amended and Restated Code of Ethics (the “Code of Ethics”) is available on our website at
www.cgagri.com
.
Printed copies are available upon request without charge. Any amendment to or waiver of the Code of Ethics will be disclosed on
our website promptly following the date of such amendment or waiver.
Certain Relationships and Related Transactions
As of June 30, 2015 and
2014, the amount due to related parties was $2,068,102 and $1,758,336, respectively. At June 30, 2015 and 2014, $1,184,643 and
$1,136,800, respectively were amounts that Gufeng borrowed from a related party, Xi’an Techteam Science & Technology
Industry (Group) Co. Ltd., a company controlled by Mr. Tao Li, Chairman and CEO of the Company, representing unsecured, non-interest
bearing loans that are due on demand. These loans are not subject to written agreements.
On November 1, 2013, Yuxing
entered into an agreement with Xi'an Techteam Investment Holding Group (“Techteam Investment”), a holding company owned
and controlled by Mr. Tao Li, Chairman and CEO of the Company, to delegate Techteam Investment to procure certain inventories from
the market from November 1, 2013 to June 30, 2014 (the “Agreement Period”). During the Agreement Period, Techteam Investment
advances procurement payment to vendors, and Yuxing repays the outstanding procurement amount to Techteam Investment periodically.
Techteam Investment receives no commission or compensation in this process. The total amount under this Agreement is at $133,168.
On June 29, 2014, Jinong signed an office lease
with Kingtone Information. Pursuant to the lease, Jinong rented 612 square meters (approximately 6,588 square feet) of office space
from Kingtone Information. The lease provided for a two-year term effective as of July 1, 2014 with monthly rent of RMB 24,480
(approximately $4,007).
Our executive offices located at 3/F, Area A,
Block A, No. 18 South Taibai Road, Xi’an 710065, the People’s Republic of China are leased from Kingtone Information
for a term of two years from July 1, 2014 at monthly rent of RMB 24,480 (approximately $4,000) for 612 square meters (approximately
6,588 square feet) of office space.
On October 1, 2014, the audit committee and
the Board approved a private placement investment in the Common Stock from Mr. Tao Li, pursuant to which the Company will issue
496,445 shares of its Common Stock, par value $0.001 to Mr. Li, pending the approval from its stockholders. The purchase price
for each share is $2.25, the closing price of the Common Stock that day, and the aggregate purchase price for shares is $1,117,000.
Procedures for Approval of Related Party Transactions
In November 2010, we adopted
a written Related Party Transactions Policy (the “Policy”). According to the Policy, a “Related Party Transaction”
is a transaction, arrangement or relationship (or any series of similar transactions, arrangements or relationships) in which we
(including any of our subsidiaries) are, were or will be a participant and the amount involved exceeds $120,000, and in which any
related party had, has or will have a direct or indirect “material” interest. The Policy’s definition of a “Related
Party” is in line with the definition set forth in the instructions to Item 404(a) of Regulation S-K promulgated by the SEC.
Under the Policy, our Chief
Financial Officer is responsible for determining whether a proposed transaction, as submitted by a Related Party is a Related Party
Transaction that requires the consideration and discussion of the Audit Committee. The Audit Committee is responsible for evaluating
and assessing a proposed transaction based on the facts and circumstances including those listed in the Policy, including comparing
the terms of the proposed transaction and the terms available to unrelated third parties or to employees generally. The Policy
states that the Audit Committee shall approve only those Related Party Transactions that are in, or are not inconsistent with,
the best interests of our company and our stockholders. No member of the Audit Committee shall participate in any review, consideration
or approval of any Related Party Transaction in which he or she or any immediate family member directly or indirectly is involved.
In the event that we become
aware of a Related Party Transaction that has not been previously approved under the Policy, such transaction will be presented
to the Audit Committee. A Related Party Transaction entered into without pre-approval of the Audit Committee shall not be deemed
to violate the Policy, or be invalid or unenforceable, so long as the transaction is brought to the Audit Committee as promptly
as reasonably practical after it is entered into and is subsequently ratified by the Audit Committee.
Family Relationships
There is no family relationship
among any of our officers or directors.
Involvement in Certain Legal Proceedings
To the best of our knowledge,
none of our directors or executive officers was involved in any legal proceedings during the last 10 years as described in Item
401(f) of Regulation S-K.
Section 16(a) Beneficial Ownership Reporting
Compliance
Section 16(a) of the Exchange
Act requires our executive officers and directors, and persons who own more than 10% of a registered class of our equity securities
(“Reporting Persons”), to file reports of ownership and changes in ownership with the SEC. The Reporting Persons are
also required to furnish us with copies of all such reports. Based solely on our review of the reports received by us, we believe
that, during the year ended June 30, 2015, our directors, executive officers and holders of ten percent (10%) or more of our common
stock complied with Section 16(a) filing requirements applicable to them except as follows: the Form 4s filed on December 23, 2014
by five of our directors, executive officers and holders of ten percent or more of our common stock, which reported certain shares
granted under the Company’s 2009 Equity Incentive Plan and were due on October 2, 2014, were not timely filed; the Form 4
filed on August 17, 2015 by Ms. Yiri Shi which reported certain shares sold and were due on August 10, 2015, was not timely filed.
Communications with the Board
Interested parties may communicate with any
of our directors, our Board as a group, our independent directors as a group or any committees of the Board by sending an e-mail
to Ran Liu, Secretary to the Board of Directors, at
liuran
@cgagri.com
and indicating the intended recipient in the
subject line, or by writing to Ms. Liu at China Green Agriculture, Inc., 3rd Floor, Borough A, Block A. No. 181, South Taibai Road,
Xian, Shaanxi Province, People’s Republic of China 710065. The Board has given Ms. Liu, as Secretary to the Board of Directors,
the discretion to distribute communications to the director or directors, after ascertaining whether the communications are appropriate
to duties and responsibilities of the Board. Communications that relate to ordinary business matters that are not within the scope
of the Board’s responsibilities will be forwarded to the appropriate employee within our company. Solicitations, junk email
and obviously frivolous or inappropriate communications will not be forwarded. You will receive a written acknowledgement from
the Secretary to the Board upon receipt of your communication.
Audit Fees
The following are the fees billed to us by our
auditors during fiscal years ended June 30, 2015 and 2014:
|
|
Years Ended
|
|
|
|
June 30, 2015
|
|
|
June 30, 2014
|
|
Audit Fees
|
|
$
|
230,000
|
|
|
$
|
375,000
|
|
Audit related fees
|
|
|
10,000
|
|
|
|
5,000
|
|
Tax fees
|
|
|
-
|
|
|
|
-
|
|
All Other Fees
|
|
|
-
|
|
|
|
-
|
|
Total
|
|
$
|
240,000
|
|
|
$
|
380,000
|
|
Audit Fees
The aggregate fees billed
by Kabani &Company, Inc. for professional services rendered for the audit of our annual financial statements included in our
Annual Reports on Form 10-K, for the reviews of the financial statements included in our Quarterly Reports on Form 10-Q, for our
Sarbanes-Oxley Act of 2002 compliance audit, and for services in connection with statutory and regulatory filings or engagements
were $230,000 and $375,000 for the fiscal years ended June 30, 2015 and 2014, respectively.
Audit-Related Fees
The aggregate fees billed
by our principal accountants for audit-related services was $10,000 and $5,000 for the fiscal years ended June 30, 2015, and 2014,
respectively.
Tax Fees
We did not engage our principal
accountants to provide tax or related services during the last two fiscal years.
All Other Fees
We did not engage our principal
accountants to render services to us during the last two fiscal years, other than as reported above.
REPORT OF THE AUDIT COMMITTEE
The Audit Committee of
the Board is comprised of three non-employee directors, each of whom has been determined by the Board to be “independent”
under the meaning of Rule 10A-3(b)(1) under the Exchange Act. Ms. Yiru Shi qualifies as a financial expert within the meaning of
Item 401(h) of SEC Regulation S-K. The Audit Committee assists the Board’s oversight of the integrity of our financial reports,
compliance with legal and regulatory requirements, the qualifications and independence of our independent registered public accounting
firm, the audit process, and internal controls. The Audit Committee operates pursuant to a written charter adopted by the Board.
The Audit Committee is responsible for overseeing our corporate accounting and financial reporting practices, recommending the
selection of our registered public accounting firm, reviewing the extent of non-audit services to be performed by the auditors,
and reviewing the disclosures made in our periodic financial reports. The Audit Committee also reviews and recommends to the Board
that the audited financial statements be included in our Annual Report on Form 10-K.
The Audit Committee: (1)
reviewed and discussed the audited financial statements for the year ended June 30, 2015, with management; (2) discussed with the
independent auditors the matters required to be discussed by SAS 61 , as amended (AICPA,
Professional Standards
, Vol. 1.
AU section 380), as adopted by the Public Company Accounting Oversight Board in Rule 3200T; and (3) received the written disclosures
and the letter from the independent accountants required by applicable requirements of the Public Company Accounting Oversight
Board regarding the independent accountant’s communications with the Audit Committee concerning independence, and has discussed
with the independent accountant its independence.
Based on the review and
discussions referred to above, the Audit Committee had recommended to the Board of Directors that the audited financial statements
be included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2015, for filing with the SEC.
The foregoing report has
been furnished in May 18, 2016, by the members of the Audit Committee, being:
/s/ Yiru Shi, Chairman of the Audit Committee
/s/ Jianlei Shen, member of the Audit Committee
/s/ Lianfu Liu, member of the Audit Committee
The foregoing Audit
Committee Report does not constitute soliciting material or to be “filed” with the Commission or subject to Regulation
14A or 14C (17 CFR 240.14a-1 through 240.14b-2 or 240.14c-1 through 240.14c-101), other than as provided in Item 407 of Regulation
S-K, or to the liabilities of section 18 of the Exchange Act (15 U.S.C. 78r) and shall not be deemed filed or incorporated by reference
into any other of our filings under the Securities Act or the Exchange Act, except to the extent that we specifically incorporate
this Audit Committee Report by reference therein.
STOCKHOLDER PROPOSALS
Proposals of stockholders
intended for presentation at next year’s annual meeting of stockholders and intended to be included in our proxy statement
and form of proxy relating to that meeting must be received at our executive office by January 16, 2017, and comply with the requirements
of Rule 14a-8(e) promulgated under the Exchange Act. If a stockholder intends to submit a proposal at next year’s annual
meeting of stockholders, which proposal is not intended to be included in the our proxy statement and form of proxy relating to
that meeting, the stockholder must provide appropriate notice to us not later than March 31, 2017, in order to be considered timely
submitted within the meaning of Rule 14a-4(c) of the Exchange Act. As to all such matters which we do not have notice on or prior
to March 31, 2017, discretionary authority shall be granted to the persons designated in our proxy related to the annual meeting
of stockholders for the fiscal year ended June 30, 2016 to vote on such proposal.
ANNUAL REPORT ON FORM 10-K
We will furnish without
charge to each person whose proxy is being solicited, upon the request of such person, a copy of our Annual Report on Form 10-K
for the fiscal year ended June 30, 2015, including the financial statements and schedules thereto. Requests for copies of such
report should be directed to Mr. Ken Ren, Chief Financial Officer, China Green Agriculture, Inc., 3rd Floor, Borough A, Block A.
No. 181, South Taibai Road, Xian, Shaanxi Province, People’s Republic of China, 710065, +86-29-88266368.
OTHER MATTERS
As of the date of this
proxy statement, the Board of Directors has no knowledge of any business which will be presented for consideration at the Meeting
other than the election of directors. Should any other matters be properly presented, it is intended that the enclosed proxy will
be voted in accordance with the best judgment of the persons voting the proxies.
It is important that the
proxies be returned promptly and that your shares be represented at the Meeting. Stockholders are urged to mark, date, execute
and promptly return the accompanying proxy card in the enclosed envelope.
May 18, 2016
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By Order of the Board of Directors
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/s/ Tao Li
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Tao Li Chairman of the Board
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Exhibit A
CHINA GREEN AGRICULTURE, INC.
THIS
PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
annual
meeting OF
STOCKHOLDERS – Tuesday, June 28, 2016 at 10:00 PM ET
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CONTROL ID:
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REQUEST ID:
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The undersigned, a stockholder of China Green Agriculture, Inc. (the “Company”), hereby revoking any proxy heretofore given, does hereby appoint Mr. Tao Li proxy, with power of substitution, for and in the name of the undersigned to attend the Annual Meeting of Stockholders (the “Annual Meeting”) of China Green Agriculture, Inc., a Nevada corporation (the “Company”), will be held on Tuesday, June 28, 2016, at 10:00 p.m., E.T. (June 29, 2016 at 10:00 a.m. Local Time), at the headquarters of the Company’s wholly-owned subsidiary Shaanxi Techteam Jinong Humic Acid Product Co., Ltd. at 3F, Borough A, Block A, No. 181 South Taibai Road, Xi’an Shaanxi, People’s Republic of China, 710065, or at any adjournment or postponement thereof, and there to vote, as designated below.
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(CONTINUED AND TO BE SIGNED ON REVERSE SIDE.)
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VOTING INSTRUCTIONS
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If you vote by phone, fax or internet, please DO NOT mail your proxy card.
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MAIL:
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Please mark, sign, date, and return this Proxy Card promptly using the enclosed envelope.
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FAX:
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Complete the reverse portion of this Proxy Card and Fax to
202-521-3464.
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INTERNET:
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https://www.iproxydirect.com/CGA
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PHONE:
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1-866-752-VOTE(8683)
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ANNUAL
MEETING OF THE STOCKHOLDERS OF
CHINA GREEN AGRICULTURE, INC.
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PLEASE
COMPLETE, DATE, SIGN AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.
PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE:
x
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PROXY
SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
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Proposal
1
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à
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FOR
ALL
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WITHHOLD
ALL
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FOR
ALL
EXCEPT
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Election of Directors:
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¨
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¨
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Tao Li
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¨
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Ale Fan
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¨
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Control
ID:
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Yiru Shi
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¨
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REQUEST ID:
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Lianfu Liu
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¨
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Jianlei Shen
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¨
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MARK “X” HERE IF YOU PLAN TO ATTEND
THE MEETING:
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THE
BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT YOU VOTE “
FOR
” ALL DIRECTORS ON PROPOSAL ONE.
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MARK
HERE FOR ADDRESS CHANGE
¨
New Address (if applicable):
____________________________
____________________________
____________________________
IMPORTANT:
Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign.
When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer
is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If signer is
a partnership, please sign in partnership name by authorized person.
Dated: ________________________,
2016
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(Print Name of Stockholder and/or
Joint Tenant)
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(Signature of Stockholder)
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(Second Signature
if held jointly)
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Exhibit B
CHINA GREEN AGRICULTURE, INC.
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CONTROL ID:
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REQUEST ID:
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IMPORTANT
NOTICE
REGARDING THE AVAILABILITY OF PROXY MATERIALS
for the Annual Meeting of Stockholders
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DATE:
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June 28, 2016
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TIME:
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10:00 p.m. eastern time
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LOCATION:
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Shaanxi Techteam Jinong
Humic Acid Product Co., Ltd.
Xi’an Office, 3F,
Borough A, Block A
No. 181, South Taibai
Road, Xi’an, Shaanxi Province, People’s Republic of China 710065
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HOW TO REQUEST PAPER COPIES OF OUR MATERIALS
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PHONE:
Call
toll free
1-866-752-8683
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FAX:
Send
this card to
202-521-3464
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INTERNET:
https://www.iproxydirect.com/CGA
and follow the on-screen instructions.
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EMAIL:
proxy@iproxydirect.com
Include your Control ID in your email.
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This
communication represents a notice to access a more complete set of proxy materials available to you on the Internet. We encourage
you to access and review all of the important information contained in the proxy materials before voting. The proxy statement
is available at:
https://www.iproxydirect.com/CGA
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If you want to receive a paper copy of the proxy materials you must request one. There is no charge to you for requesting a copy. To facilitate timely delivery please make the request, as instructed above, before June 5, 2016.
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you
may enter your voting instructions at
https://www.iproxydirect.com/CGA
until 11:59 am eastern time June 27, 2016.
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The purposes of this meeting are as follows:
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1.
To elect five persons to the Board of Directors of the Company, each to serve until the next annual meeting of stockholders
of the Company or until such person shall resign, be removed or otherwise leave office;
2.
To transact such other business as may properly come before the Annual Meeting or any adjournment thereof.
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Pursuant to Securities
and Exchange Commission rules, you are receiving this Notice that the proxy materials for the Annual Meeting are available on
the Internet. Follow the instructions above to view the materials and vote or request printed copies.
The
board of directors has fixed the close of business on May 2 2016 as the record date for the determination of stockholders entitled
to receive notice of the Annual Meeting and to vote the shares of our common stock, par value $.001 per share, they held on that
date at the meeting or any postponement or adjournment of the meeting.
The
Board of Directors recommends that you vote ‘for’ all proposals above.
Please
note - This is not a Proxy Card - you cannot vote by returning this card
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China Green Agriculture, Inc.
SHAREHOLDER SERVICES
500 Perimeter Park Drive Suite D
Morrisville NC 27560
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FIRST-CLASS MAIL
US POSTAGE
PAID
CARY NC
PERMIT # 869
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Time
Sensitive shareholder information enclosed
IMPORTANT
SHAREHOLDER INFORMATION
your
vote is important
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