China Food Company PLC Notification of Shareholding (9120M)
September 24 2012 - 1:05AM
UK Regulatory
TIDMCFC
RNS Number : 9120M
China Food Company PLC
24 September 2012
Press Release 24 September 2012
China Food Company Plc
("China Food" the "Company" or the "Group")
Notification of Shareholding
China Food Company Plc (AIM:CFC), the leading Chinese
manufacturer of cooking and dipping sauces, announces that on 24th
September 2012, the Company was notified that Main World
Investments Limited has acquired 6,000,000 shares from Hermes
Holdings Limited. Following this transaction, the respective
holdings change to 19,227,274, for Main World investments Limited,
representing 26.9 % (18.51%) of the issued share capital and Hermes
Holdings co. Ltd's holding reduces to 9,056,961, representing 12.7%
(21.07%).
Main World is the company in which Mr Fu Guoping, the China Food
Founder and China CEO has his holding.
Following the share distribution of Albany Capital Group
limited, John McLean's holding has increased by 239,770 to 563,425,
representing 0.8% (0.5%).
- Ends -
For further information:
China Food Company Plc
John McLean, Chairman Tel: +44 (0) 7768 031
454
www.chinafoodcompany.com
Numis
David Poutney - Head of Corporate Tel: +44 (0) 20 7260
Broking 1000
finnCap (Nomad)
Geoff Nash / Ben Thompson (Corporate Tel: +44 (0) 20 7220
Finance) 0500
Simon Starr (Broking)
Media enquiries:
Abchurch Communications
Henry Harrison-Topham / Joanne Shears Tel: +44 (0) 20 7398
7709
joanne.shears@abchurch-group.com www.abchurch-group.com
Notes to Editors:
China Food is a well-established food manufacturing business
based in Shandong province in the People's Republic of China, a
region with a population of circa 94 million. A recent report
identified Shandong province as one of the five most attractive
'city clusters' in China, due to the high number of large cities in
the province*. The Group manufactures numerous different product
lines including soya sauce and bean paste, all targeting the
Chinese domestic market, and sold through a network of distributors
and outlets of supermarket chains in the north-eastern region of
the PRC, such as Walmart, Carrefour and Jialejia.
The Chinese sauces, dressings and condiments market is expected
to be worth CNY115 billion (US$15 billion) by 2013**, driven by
Chinese population growth and economic prosperity. The Chinese
domestic market is rapidly expanding, and the Group is well
positioned to benefit from China's demographic growth and increased
urbanisation.
The first phase of expansion is now complete at the Group's new
factory, which was officially opened on 12 May 2010, and this
doubles China Food's current capacity. It is proposed that in due
course there will be a further two phases, adding capacity of
100,000 tonnes through the building of 230 additional silos. The
Group plans to expand into the neighbouring provinces such as Henan
and Hebei.
The Group also operates an animal feed business, Fuss Feed. This
business produces premix, concentrate and compound feedstuffs, and
is the third largest animal feed business in Shandong, an important
province for the production of livestock in China.
The Group's operations are highly scalable and able to support
further growth, and with net assets of GBP39 million (as at 31
December 2011), the prospects for China Food are strong. Further
information on China Food Company can be found at
www.chinafoodcompany.com.
*McKinsey Quarterly Report: Is your emerging market strategy
local enough?, April 2011
**Source: Datamonitor report: Sauces, Dressings and Condiments
in China to 2013, April 2010
This information is provided by RNS
The company news service from the London Stock Exchange
END
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