XI'AN, China, Nov. 13, 2014 /PRNewswire/ -- China Green
Agriculture, Inc. (NYSE: CGA; "China Green Agriculture", "we" or
the "Company"), a company that mainly produces and distributes
humic acid-based compound fertilizers, other varieties of compound
fertilizers and agricultural products through its subsidiaries in
China, today updates that certain
employees had made investments to the Company through the Company's
Employee Stock Purchase Plan (the "ESPP").
Forty-seven Company's employees had submitted their enrollment
forms for the subscription of a total of 464,776 shares of Common
Stock from the Company for this round of subscription under the
ESPP. These employees made a total cash contribution to the Company
at an aggregated amount of $1,045,757. The Company's Compensation Committee,
the administrator of the ESPP designated by the Company's Board of
Directors, authorized the share issuance at the market value at
$2.25 per share, the closing price on
October 16, 2014.
As of today, together with previous investments made by Mr. Tao
Li, Chairman and CEO of the Company and other employees, the
Company's employees had invested an aggregated amount of
$4.9 million personal wealth to the
Company.
"I am delighted to see my team are investing with me," Mr. Tao
Li, Chairman and CEO of the Company, said, "Not only just our
careers, we are also pledging our own wealth in our own Company. We
had not ever been more closely bounded to our shareholders in
history than today."
About China Green Agriculture, Inc.
The Company produces and distributes humic acid-based compound
fertilizers, other varieties of compound fertilizers and
agricultural products through its wholly-owned subsidiaries, i.e.:
Jinong, Gufeng and a variable interest entity, Xi'an Hu County
Yuxing Agriculture Technology Development Co., Ltd. ("Yuxing").
Jinong produced and sold 125 different kinds of fertilizer products
as of September 30, 2014, all of
which are certified by the government of the People's Republic of China (the "PRC") as
Green Food Production Materials, as stated by the China Green Food
Development Center. Jinong currently markets its fertilizer
products to private wholesalers and retailers of agricultural farm
products in 27 provinces, four autonomous regions, and three
central-government-controlled municipalities in the PRC. Jinong had
961 distributors in the PRC as of September
30, 2014. Gufeng, and its wholly-owned subsidiary, Beijing
Tianjuyuan Fertilizer Co., Ltd., are Beijing-based producers of compound
fertilizers, blended fertilizers, organic compound fertilizers, and
mixed organic-inorganic compound fertilizers. As of September 30, 2014, Gufeng produced and sold 331
different kinds of fertilizer products, and had 268 distributors in
the PRC. For more information, visit http://www.cgagri.com. The
Company routinely posts important information on its website.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
concerning the Company's business, products and financial results.
The Company's actual results may differ materially from those
anticipated in the forward-looking statements depending on a number
of risk factors including, but not limited to, the following:
general economic, business and environment conditions, development,
shipment, market acceptance, additional competition from existing
and new competitors, changes in technology, the execution of its
ten-year growth plan, a satisfactory conclusion of the pending
securities class action litigation and various other factors beyond
the Company's control. All forward-looking statements are expressly
qualified in their entirety by this Safe Harbor Statement and the
risk factors detailed in the Company's reports filed with the SEC.
China Green Agriculture undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this release, except as required by applicable law or
regulations.
China Green Agriculture, Inc.
Ms. Ran Liu (English and Chinese)
Tel: +86-29-88266383
Email: liuran@cgagri.com
SOURCE China Green Agriculture, Inc.