Last September, Sino Agro Food Inc (OTCBB:SIAF) and Euro China Capital AB launched a strategic plan to match operational performance with corporate measures to increase shareholder value. The company termed the progress as a broad strategic plan in December 2014.
Sino Agro stated that the long term objective of the company is to become a pioneering sustainable aquaculture firm focusing its initiatives on organically farmed prawns and fish. In this process, it intends to divest other businesses, either through M&A or separate listings. The second objective is to list its shares on the Oslo Stock exchange. Sino Agro together with its financial advisor Arctic Securities intends to list SIAF common shares on the Oslo Stock Exchange.
Sino Agro appointed Bertil Tiusanen as new Chief Financial Officer of the company. He has previously served as CFO at reputed Swedish corporations including Coop AB and Vattenfall AB. He currently serves as advisor to the Norwegian Government. He will take the role of CFO with Sino Agro effective on May 1, 2015. Moving forward, the company stated that it engaged Box Communications to look after its Nordic IR activities.
The expert view
Solomon Lee, the Chairman and Chief Executive stated that during the past few months, the team has worked together with Euro China in order to implement the strategic plan. The latest created long-term vision focuses on sustainable aquaculture and is considered as right for Sino Agro.
With new management appointments, Lee feels confident that the company has the right team to continue to implement the plan for the growth of the Company, its shareholders and employees. Lee added that he is delighted about the recruitment of Tiusanen as new CFO, who brings valuable experience and expertise to the Company, particularly in financing matters. In last trading session, the stock price of Sino Agro closed flat at $14.11.