Cancellation of Sanonda B-Shares held by Adama
Global crop protection group ADAMA, the combination between Adama Agricultural Solutions Ltd. (“Solutions”) and Hubei Sanonda Co., Ltd. (“the Listed Entity”) (together, “ADAMA” or “the Combined Company”), today announced that the B-shares which Solutions owned in the Listed Entity have been repurchased and cancelled, following the combination of the two companies.
The repurchase and cancellation of the 62,950,659 B-shares that Solutions held in the Listed Entity, which represented around 2.6% of the total shares of the Listed Entity, was done to eliminate the cross-holding of shares of the Listed Entity by Solutions, and is taking place in advance of an envisaged capital raising by the Combined Company.
About the Combined Company
The combined company, which will be named ADAMA, is comprised of Adama Agricultural Solutions Ltd. and Hubei Sanonda Ltd., and is one of the world's leading crop protection companies. We strive to Create Simplicity in Agriculture – offering farmers effective products and services that simplify their lives and help them grow. With one of the most comprehensive and diversified portfolios of differentiated, quality products, our 6,600 strong team reaches farmers in over 100 countries, providing them with solutions to control weeds, insects and disease, and improve their yields. For more information, visit us at www.adama.com and follow us on Twitter® at @AdamaAgri.