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HK Bourse: Results Announcement From Chaoda Modern Agriculture (Holdings) Ltd. -6-

28 Feb 2018 10:43 am
                                          - 14 - 
During the six months ended 31 December 2017, neither the Company nor any of its 
subsidiaries purchased, sold or redeemed any of the Company's listed securities. 
The Board recognises that good corporate governance will not only safeguard the 
interests and assets of the Company and deliver long-term return to our shareholders, 
but will also lay a good foundation for sustainable growth of the Company. During the 
financial period under review, the Company has applied the principles and complied 
with all the applicable code provisions set out in the Corporate Governance Code (the 
"CG Code") contained in Appendix 14 to the Rules Governing the Listing of Securities 
on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), except for the 
deviation stated below: 
Code provision A.2.1 of the CG Code 
Under code provision A.2.1 of the CG Code, the roles of chairman and chief executive 
officer should be segregated and should not be performed by the same individual. 
Mr. Kwok Ho held and is currently performing both the roles of Chairman and Chief 
Executive Officer of the Company. The Board considers that Mr. Kwok, as the founder 
of the Group, has profound knowledge and expertise in agricultural business. Under the 
present structure, the Group can enjoy the benefit of strong and consistent leadership in 
development and execution of the Group's business strategies in the most efficient and 
effective manner. The Board will review and assess such arrangement from time to time 
to keep a balance of power and authority. 
All members of the Audit Committee are independent non-executive directors, 
including Mr. Tam Ching Ho (the Chairman), Mr. Fung Chi Kin and Mr. Chan Yik Pun. 
They possess appropriate professional qualifications, accounting or related financial 
management expertise as required under the Listing Rules. 
The Audit Committee has reviewed the Interim Financial Report. 
The Company has adopted the Model Code for Securities Transactions by Directors 
of Listed Issuers (the "Model Code") set out in Appendix 10 to the Listing Rules. 
All Directors, after specific enquiries made by the Company, confirmed that they had 
complied with the Model Code throughout the financial period under review. 
Source: Hong Kong Exchanges & Clearing 

(END) Dow Jones Newswires

February 28, 2018 05:43 ET (10:43 GMT)
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