Hong Kong, 27 Oct - The leading frozen natural foods producer in the People's Republic of Chna (PRC), First Natural Foods Holdings Limited announces that Dunross Investment Ltd, an international financial institution, recently increased its shareholding in the Group to 5.16%.
Dunross Investment Ltd is now one of the major shareholders of First Natural Foods after such increasing shareholding.
On 21 October 2008, Dunross Investment Ltd spent HK$1,581,750 to acquire 3,515,000 shares of First Natural Foods in total at an average price of HK$0.45 per share, aggregating a total of 61,200,000 shares which represented 5.16% of the Group’s issued share capital. First Natural Foods closed at HK$0.43 today, which is very close to the average price despite recent market downturn.
Currently, Mr Yeung Chung Lung-the Chairman of the Group, UBS AG, Crosby Capital Partners Inc, The SFP Value Realization Co. Limited and Dunross Investment Ltd hold 35.04%, 11%, 9.07%, 5.29% and 5.16% equity interests in First Natural Foods respectively.
Headquartered in Sweden, Dunross Investment Ltd is an independent international investment company focused on emerging markets, Asia and materials/energy, with offices in Cyprus and Singapore.
Mr Yeung Chung Lung, the Chairman of First Natural Foods, said, “We are encouranged to have the continuous increased shareholding in the Group by an international financial institution, reflecting its support and confidence towards the Group’s strengths and development strategies, despite the financial tsuami, economic downturn and negative market sentiment. We will strive to consolidate our business, as well as establish renowned marine food brand in the PRC, which create greater returns for shareholders.”