Tianyi Fruit Holdings Limited – Clarification Announcement On Press Articles
The board of directors (the “Board”) of Tianyi Fruit Holdings Limited…
The board of directors (the “Board”) of Tianyi Fruit Holdings Limited (the “Company”, together with its subsidiaries, the “Group”) wishes to make a clarification announcement in response to certain press articles published in various Hong Kong newspapers on 26 February 2011 (the “Articles”).
The Articles stated the comments of Mr. Hu Xu (“Mr. Hu”), the chief financial officer of the Company, that the Company is acquiring a major juice processing plant in Hunan Province, the PRC in coming months which will cost between RMB300 million to RMB400 million (the “Relevant Information”).
The Board wishes to clarify that the Relevant Information was expressed by Mr. Hu during a press conference held on 25 February 2011 which was wholly based on his personal views and did not represent the view of the Company. The Board further clarifies that although the Group, as disclosed in the 2010 annual report of the Company, intends to expand its production capacity by, among others, acquisition, there is no concrete plan for
the Group to acquire any juice processing plant or any other relevant acquisition in the PRC, including but not limited to Hunan Province as at the date of this announcement. The Board confirms that as at the date of this announcement, there are no negotiations or agreements related to any intended acquisitions or realizations which are discloseable under Rule 13.23 of the Rules Governing the Listing of Securities on The Stock Exchange
of Hong Kong Limited (the “Listing Rules”), nor is the Board aware of any matter discloseable under the general obligation imposed by Rule 13.09 of the Listing Rules, which is or may be of a price sensitive nature.
Shareholders of the Company and investors are advised to exercise caution when dealing in the shares of the Company.
By order of the Board
Tianyi Fruit Holdings Limited
Quanzhou, Fujian Province, the PRC
28 February 2011