UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14C INFORMATION
Information Statement Pursuant to Section
14(c)
of the Securities Exchange Act of 1934
Check the appropriate box:
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Preliminary Information Statement
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Confidential, for Use of the Commission Only (as permitted
by Rule 14A-6(e)(2))
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x
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Definitive
Information Statement
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SINO AGRO FOOD, INC.
(Name of Registrant as Specified In Its
Charter)
Copies to:
Sichenzia Ross Ference Kesner LLP
61 Broadway, 32
nd
Floor
New York, NY 10006
Fax: 212-930-9725
Attn.: Marc J. Ross, Esq.
Payment of Filing Fee (Check the appropriate
box):
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Fee
computed on table below per Exchange Act Rules 14c-5(g) and 0-11.
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(1)
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Title of each class of securities to which transaction
applies:___________
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(2)
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Aggregate number of securities to which transaction
applies:___________
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(3)
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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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(4)
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Proposed maximum aggregate value of transaction:____________
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(5)
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Total fee paid:____________
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Fee
paid previously with preliminary materials.
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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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(1)
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Amount Previously Paid:___________
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(2)
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Form, Schedule or Registration Statement No.:___________
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(3)
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Filing Party:___________
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(4)
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Date Filed:___________
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SINO AGRO FOOD, INC.
Room 3801, Block A, China Shine Plaza
No. 9 Lin He Xi Road
Tianhe District, Guangzhou City, P.R.C.
NOTICE OF ACTION BY WRITTEN CONSENT
OF SHAREHOLDERS
NOTICE IS HEREBY GIVEN
that the holders of more than a majority of the voting power of the shareholders of Sino Agro Food, Inc., a Nevada corporation
(the “
Company
” “
we
,” “
us
,” or “
our
”), have approved
the following action without a meeting of shareholders in accordance with Section 78.320 of the Nevada Revised Statutes:
The
approval of an amendment to our articles of incorporation to increase our authorized shares of common stock from
22,727,723
to
27,000,000. The action will become effective on or about the 20
th
day after the definitive information statement is
mailed to our shareholders.
Shareholders of record
at the close of business on October 28, 2016 (the “
Record Date
”), are entitled to receive a copy of this information
statement.
The enclosed information statement contains
information pertaining to the matters acted upon.
WE ARE NOT ASKING YOU FOR A PROXY, AND YOU ARE REQUESTED NOT TO SEND US A PROXY
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By
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Order of the Board of Directors
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Lee Yip Kun Solomon
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Chief Executive Officer
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December 6, 2016
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SINO AGRO FOOD, INC.
Room 3801, Block A, China Shine Plaza
No. 9 Lin He Xi Road
Tianhe District, Guangzhou City, P.R.C.
INFORMATION STATEMENT
Action by Written Consent of Shareholders
GENERAL INFORMATION
WE ARE NOT ASKING YOU FOR A PROXY,
AND YOU ARE REQUESTED NOT TO SEND US
A PROXY
This information statement is being furnished
in connection with the action by written consent of shareholders taken without a meeting of a proposal to approve the actions described
in this information statement. We are mailing this information statement to our shareholders of record on October 28, 2016 (the
“
Record Date
”).
What action was taken by written consent?
We
obtained shareholder consent for the approval of an amendment to our articles of incorporation to increase our authorized shares
of common stock, par value $0.001 per share (the “
Common Stock
”), from
22,727,723
to
27,000,000.
How many shares of voting stock were
outstanding on the Record Date?
On the Record Date, the date we received
the consent of the holders of a majority of the voting power of our shareholders, there were 22,656,895 shares of Common Stock
issued and outstanding and 100 shares of Series A Preferred Stock issued and outstanding.
What vote was obtained to approve the
amendment to the articles of incorporation described in this information statement?
We obtained the approval of the holders
of 2,459,697 shares of Common Stock, or approximately 2.2% of the voting power of our shareholders. In addition, we obtained the
approval of the holders of all 100 issued and outstanding shares of our Series A Preferred Stock, which collectively carry the
voting power of eighty percent (80%) of all votes entitled to be voted at any annual or special meeting of shareholders of our
company or action by written consent of shareholders. As a result, we obtained the approval of 82.2% of the voting power eligible
to vote on the amendment to our articles of incorporation.
AMENDMENT TO THE ARTICLES OF INCORPORATION
TO
INCREASE AUTHORIZED SHARES OF COMMON STOCK FROM
22,727,723
TO
27,000,000
Our
board of directors and the holders of a majority of the voting power of our shareholders have approved an amendment to our articles
of incorporation to increase our authorized shares of Common Stock from
22,727,723
to
27,000,000. The increase in our authorized shares of Common Stock will become effective upon the filing of the amendment to our
articles of incorporation with the Secretary of State of the State of Nevada. We will file the amendment to our articles of incorporation
to effectuate the increase in our authorized shares of Common Stock (the “
Amendment
”) approximately (but not
less than) 20 days after the definitive information statement is mailed to shareholders.
The form of certificate of amendment to
be filed with the Secretary of State of the State of Nevada is set forth as Appendix A to this information statement.
Outstanding Shares and Purpose of the
Amendment
Our
articles of incorporation currently authorize us to issue a maximum of
22,727,723
shares
of Common Stock, par value $0.001 per share. As of the Record Date, we had 22,656,859 shares of Common Stock issued and outstanding
and 100 shares of Series A Preferred Stock issued and outstanding.
The board of directors believes that the
increase in our authorized Common Stock will provide us with greater flexibility with respect to our capital structure for purposes
including additional equity financings and stock based acquisitions.
Effects of the Increase in Authorized
Common Stock
The additional shares of Common Stock will
have the same rights as the presently authorized shares, including the right to cast one vote per share of Common Stock. Although
the authorization of additional shares will not, in itself, have any effect on the rights of any holder of our Common Stock, the
future issuance of additional shares of Common Stock (other than by way of a stock split or dividend) would have the effect of
diluting the voting rights and could have the effect of diluting earnings per share and book value per share of existing shareholders.
At present, the board of directors has
no plans to issue the additional shares of Common Stock authorized by the Amendment. However, it is possible that some of these
additional shares could be used in the future for various other purposes without further shareholder approval, except as such approval
may be required in particular cases by our charter documents, applicable law or the rules of any stock exchange or other quotation
system on which our securities may then be listed. These purposes may include: raising capital, providing equity incentives to
employees, officers or directors, establishing strategic relationships with other companies, and expanding our business or product
lines through the acquisition of other businesses or products.
We could also use the additional shares
of Common Stock that will become available pursuant to the Amendment to oppose a hostile takeover attempt or to delay or prevent
changes in control or management of our company. Although the board’s approval of the Amendment was not prompted by the threat
of any hostile takeover attempt (nor is the board currently aware of any such attempts directed at us), nevertheless, shareholders
should be aware that the Amendment could facilitate future efforts by us to deter or prevent changes in control of our company,
including transactions in which our shareholders might otherwise receive a premium for their shares over then current market prices.
BENEFICIAL OWNERSHIP OF SECURITIES AND
SECURITY OWNERSHIP OF MANAGEMENT
The following table sets forth certain
information concerning the number of shares of our Common Stock owned beneficially based on 22,656,859 shares of Common Stock issued
and outstanding and 100 shares of Series A Preferred Stock issued and outstanding as of the Record Date by: (i) each of our directors;
(ii) each of our named executive officers; and (iii) each person or group known by us to beneficially own more than 5% of our outstanding
shares of Common Stock.
Beneficial ownership is determined in accordance
with SEC rules and generally includes voting or investment power with respect to securities. Other than as described in the notes
to the table, we believe that all persons named in the table have sole voting and investment power with respect to shares beneficially
owned by them. All share ownership figures include shares issuable upon exercise of options or warrants exercisable within 60 days
of the Record Date, which are deemed outstanding and beneficially owned by such person for purposes of computing his or her percentage
ownership, but not for purposes of computing the percentage ownership of any other person. Unless otherwise indicated below, beneficial
ownership is calculated based on the 22,656,859 shares of Common Stock issued and outstanding and 100 shares of Series A Preferred
Stock issued and outstanding as of the date hereof.
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Name and address
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Shares of Common Stock
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Percent of Common Stock
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Shares of Series A Preferred Stock
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Percent of Series A Preferred Stock
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Percent of Capital
Stock (1)
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Directors and Officers (2):
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Lee Yip Kun Solomon
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2,459,697
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10.9
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%
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75
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75
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%
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62.2
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%
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Tan Poay Teik (Peter)
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220,000
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*
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20
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20
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%
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16.2
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%
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Chen Bor Hann
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82,787
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*
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5
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5
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%
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4.1
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%
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George Yap
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29,774
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*
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0
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0
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*
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Nils Erik Sandberg (3)
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431,372
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1.9
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%
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0
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0
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*
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Daniel Ritchey
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161,352
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*
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0
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0
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*
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Anthony Soh
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14,887
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*
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0
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0
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*
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All Officers and Directors as a Group (7 persons)
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3,399,869
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15
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%
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100
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100
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%
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83
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%
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5% or Greater Beneficial Owners
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Nordnet Pensionsfoersaekring AB (4)
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2,115,278
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9.3
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%
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0
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0
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1.9
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%
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Forsakringsaktiebolaget Avanza Pension (5)
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3,020,429
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13.3
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%
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0
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0
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2.7
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%
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City National Rochdale, LLC (6)
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1,069,314
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4.7
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%
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0
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0
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*
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Incentive AS (7)
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1,085,887
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4.8
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%
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0
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0
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*
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Euro China Capital AB (8)
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3,663,512
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16.2
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%
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0
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0
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3.2
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%
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* Less than one percent
(1) Includes
the voting power of the 100 shares of Series A Preferred Stock issued and outstanding, which in the aggregate carry the voting
power of eighty percent (80%) of all votes entitled to be voted at any annual or special meeting of shareholders of our company
or action by written consent of our shareholders. Each outstanding share of the Series A Preferred Stock shall represent its proportionate
share of the 80%, which is allocated to the outstanding shares of Series A Preferred Stock.
(2) The
address for each of the officers and directors is c/o Sino Agro Food, Inc., Room 3801, Block A, China Shine Plaza, No. 9 Lin He
Xi Road, Tianhe District, Guangzhou City, P.R.C.
(3) Includes
86,949 shares of Common Stock owned of record by Mr. Sandberg’s spouse and 90,858
shares
of Common Stock owned of record by Ängby Sportklubb, a not-for-profit organization of which Mr. Sandberg is the chairman of
the board of directors. Mr. Sandberg disclaims any beneficial ownership of the shares of Common Stock held by Ängby Sportklubb.
(4) Carina
Tovi is the Chief Executive Officer of Nordnet Pensionsförsäkring AB, whose address is Gustavlundvägen 141, P.O.
Box 14095 SE-167 14, Bromma, Sweden.
(5) Annika
Saramies is the Chief Executive Officer of Forsakringsaktiebolaget Avanza Pension, whose address is Box 1399, Stockholm, Sweden
11193.
(6) Michael
Gozzillo is the Chief Compliance Officer of City National Rochdale, LLC, whose address is 570 Lexington Avenue, New York, NY 10022.
(7) Svein
R. Hogset is the Managing Director of Incentive AS, whose address is Filipstad Brygge 2, 0252 Oslo, Norway.
(8) Consists
of a note convertible into 3,663,512 shares of our common stock. Fredrik Danielsson is the Managing Partner of Euro China Capital
AB, whose address is Hovslagargatan 5, 114 11 Stockholm, Sweden.
DESCRIPTION OF SECURITIES
General
The
authorized capital stock of our company consists of 32,727,723 shares of capital stock, consisting of
22,727,723
shares
of Common Stock and 10,000,000 shares of preferred stock, 100 of which have been designated Series A Preferred Stock and 7,000,000
of which have been designated as Series B Preferred Stock. As of the Record Date, there were
22,727,723
shares of Common Stock and 100 shares of Series A Preferred Stock issued and outstanding.
Series A Preferred Stock
The Series A Preferred Stock ranks (i)
senior to any of the shares of Common Stock, and any other class or series of stock of our company which by its terms shall rank
junior to the Series A Preferred Stock, and (ii) junior to any other series or class of preferred stock of our company and any
other class or series of stock of our company which by its term shall rank senior to the Series A Preferred Stock. The Series A
Preferred Stock pays no dividend. The Series A Preferred Stock is not convertible. In general, the outstanding shares of Series
A Preferred Stock shall vote together with the shares of Common Stock as a single class and, regardless of the number of shares
of Series A Preferred Stock outstanding and as long as at least one of such shares of Series A Preferred Stock is outstanding,
shall represent eighty percent (80%) of all votes entitled to be voted at any annual or special meeting of shareholders of our
company or action by written consent of our shareholders. Each outstanding share of the Series A Preferred Stock shall represent
its proportionate share of the 80% which is allocated to the outstanding shares of Series A Preferred Stock.
Common Stock
Holders of Common Stock are entitled to
one vote for each share on all matters submitted to a shareholder vote. Holders of Common Stock do not have cumulative voting rights.
Therefore, holders of a majority of the shares of Common Stock voting for the election of directors can elect all of the directors.
Holders of Common Stock representing a majority of the voting power of our capital stock issued and outstanding and entitled to
vote, represented in person or by proxy, are necessary to constitute a quorum at any meeting of our shareholders. A vote by the
holders of a majority of the outstanding shares is required to effectuate certain fundamental corporate changes, such as liquidation,
merger or an amendment to the articles of incorporation. Holders of Common Stock are entitled to share in all dividends that the
board of directors, in its discretion, declares from legally available funds. In the event of liquidation, dissolution or winding
up, each outstanding share entitles its holder to participate pro rata in all assets that remain after payment of liabilities and
after providing for each class of stock, if any, having preference over the Common Stock. Holders of the Common Stock have no pre-emptive
rights, no conversion rights and there are no redemption provisions applicable to the Common Stock.
DISSENTER’S RIGHTS
Under the Nevada Revised Statutes, holders
of shares of Common Stock are not entitled to dissenters’ rights with respect to any aspect of the Amendment, and we will
not independently provide holders with any such right.
INTEREST OF CERTAIN PERSONS IN THE AMENDMENT
No director, executive officer, associate
of any director or executive officer or any other person has any substantial interest, direct or indirect, by security holdings
or otherwise, in the Amendment which is not shared by all other holders of the shares of Common Stock.
AVAILABLE INFORMATION
We are subject to the information and reporting
requirements of the Exchange Act and in accordance with such Act we file periodic reports, documents and other information with
the Securities and Exchange Commission relating to our business, financial statements and other matters. Such reports and other
information may be inspected and are available for copying at the public reference facilities of the Securities and Exchange Commission
at 100 F Street, N.E., Washington D.C. 20549 or may be accessed at
www.sec.gov
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By
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Order of the Board of Directors
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Lee Yip Kun Solomon
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Chief Executive Officer
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December 6, 2016
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Appendix A
CERTIFICATE OF AMENDMENT
TO ARTICLES OF INCORPORATION FOR NEVADA
PROFIT CORPORATIONS
(Pursuant to NRS 78.385 and 78.390 –
After Issuance of Stock)
1. Name
of Corporation: Sino Agro Food, Inc.
2. The
articles have been amended as follows:
Article
IV is hereby amended to read as follows:
Fourth
. That the total number of
stock authorized that may be issued by the Corporation is 27 million (27,000,000) shares of common stock with a par value of one
thousandth of one cent ($0.001) per share and ten million (10,000,000) shares of preferred stock with a par value of one thousandth
of one cent ($0.001) per share and no other class of stock shall be authorized. Said shares may be issued by the Corporation from
time to time for such consideration as may be fixed by the Board of Directors.
3. The
vote by which the shareholders holding shares in the Corporation entitling them to exercise at least a majority of the voting power,
or such greater proportion of the voting power as may be required in the case of a vote by classes or series, or as may be required
by the provisions of the articles of incorporation have voted in favor of the amendment is: 82.2%
4. Effective
date of filing: December __, 2016
5. Signature:
/s/ Lee Solomon Yip Kun, Chief Executive Officer
Sino Agro Food (CE) (USOTC:SIAF)
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