Sino Agro Food, Inc, a specialised investment company focused on protein food including seafood and cattle, has scheduled its Annual General Meeting (AGM) for December 2017 (exact date TBC)
SIAF's AGM will be held December 2017 (exact date TBC) at its corporate headquarters in Guangzhou, China. Proceedings will be webcast with shareholder participation invited. Items for consideration include the following: Adoption of a share buyback program, Adoption of a dividend policy, Formulation of outstanding share count guidelines, Election of Directors, and Extending ECOVIS as SIAF's Certified Auditor for 2018.
Sino Agro's Chairman and CEO elaborated, "We are confident that the timing is right to formulate the first two agenda items at the AGM, and to implement thereafter, as a complement to our carve-out and spinoff ("COSO") strategies to unlock shareholder value. As always, the Company balances various considerations to determine the best use of its funds, including, of course, projected discretionary cash. Having invested a great deal of time and money to progress the Tri-way COSO strategy sufficiently now to gain real confidence in its further finance ability, the Company believes a best use of funds likely to be a meaningful share buyback plan. Such a plan or initiation of a corporate dividend would be implemented as soon as practical, well before ongoing COSO initiatives realize an IPO."
