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Company China Food Company PLC
TIDM CFC
Headline

Board Change

Released 07:00 30-Nov-2012
Number 3295S07

RNS Number : 3295S
China Food Company PLC
30 November 2012
 



 

 

Press Release

30 November 2012

 

China Food Company Plc

("China Food" the "Company" or the "Group")

 

Board Change

 

China Food Company plc (AIM: CFC), a leading Chinese manufacturer of cooking and dipping sauces, announces that Tom Coley has resigned as Non-Executive Director, due to personal reasons.  The Company is currently looking for an additional Non-Executive Director to join the Board, and Tom will remain as a consultant to the Board until a suitable replacement is appointed. 

 

John Mclean, Non-Executive Chairman of China Food, said:  "The Board would like to thank Tom for his contribution during a period of considerable progress for China Food.  His input to the Company's marketing approach has been invaluable in guiding the development and launch of Xaka, our premium soya sauce product, and with the product in the market we are now focusing on the execution of the marketing strategy.  Whilst the Board looks for a replacement, we look forward to continuing our working relationship with Tom as he acts as the Company's consultant in the interim."

 

- Ends -

 

For further information:

China Food Company Plc

John McLean, Non-Executive Chairman

Tel: +44 (0) 7768 031 454

Raphael Tham Wai Mun, Chief Executive

www.chinafoodcompany.com

Numis

David Poutney - Head of Corporate Broking

Tel: +44 (0) 20 7260 1000

finnCap (Nomad)

Geoff Nash / Ben Thompson (Corporate Finance)

Tel: +44 (0) 20 7220 0500

Simon Starr (Broking)

 

Media enquiries:

Abchurch Communications

Joanne Shears

Tel: +44 (0) 20 7398 7700

joanne.shears@abchurch-group.com

www.abchurch-group.com

 

 

Notes to Editors:

China Food Company, based in Shandong province in the People's Republic of China, a region with a population of circa 95 million, operates a group of well-established food manufacturing businesses producing a range of cooking and dipping sauces. China Food has a very strong brand for cooking and dipping sauces which are sold through a network of distributors and outlets of supermarket chains such as Tesco, Wal Mart, Carrefour and Jialejia in Shandong and surrounding provinces in Northern China. China Food is expected to benefit also from the growth of international supermarket chains in China. The Group recently launched 'Xaka', its premium soya sauce product, which has been well received by the market. 

 

The Chinese sauces, dressings and condiments market is growing significantly, driven by Chinese population growth and economic prosperity. The Chinese domestic market is rapidly expanding, and the Group is well positioned to benefit from China's demographic growth and increased urbanisation, having invested in a new factory which increases China Food's capacity to 50,000 tonnes of soya sauce using processes which comply with domestic and international manufacturing and food safety standards.  The Group's strategy is to become a leader in premium soya sauce in Northern China and to capitalise on the rapid growth in the increasingly discerning consumer market. 

 

The Group's operations are highly scalable and able to support further growth, and with net assets of £39 million (as at 31 December 2011), the prospects for China Food are strong. 

 

Further information on China Food Company can be found at www.chinafoodcompany.com.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Board Change - RNS