1) JFD registered as a Wholly Foreign Owned Enterprise of Tri-way
The operating company of Aqua Farm 1, Jiangmen City A Power Fishery Development Co. Ltd. (“JFD”) has been registered as a Wholly Foreign Owned Enterprise (“WFOE”) of Tri-way by the Authorities of PRC Business Registration. Thus, shareholders of Sino Agro Food, Inc. are legally eligible to own shares in Tri-way directly, both prior to and at the time of IPO, under Hong Kong foreign ownership laws.
2) Legal agreements pertaining to transfer of assets secured
JFD has secured the requisite legal agreements needed to acquire all farm assets of Aquafarm 2 (“AF2”)*, Aquafarm 3 (“AF3”)*…
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