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CHINA DAIRY CORPORATION LIMITED (CDC)

Suspended from ASX ( $        )

Former (or subsequent) names

 

Shareholder links

Our website ranking of CDC: rating 3
(3 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Boardroom Pty Ltd, Level 12, 225 George Street, Sydney NSW 2000

Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details

Address: Unit 222, Level 2, 4 Columbia Court, Baulkham Hills NSW 2153
Tel:  +61 2 8051 3008 Fax: 

Date first listed: 08/04/2016
Company Secretary: 
Sector: Food, Beverage & Tobacco Industry Group: 
Activities: 
The company provides a shareholder update. Since the company was suspended from trading, the board has made every effort to implement the recommended corporate governance reforms which was expected to lead to the lifting of the suspension. However, the board has been consistently hampered in its efforts. The board has nonetheless taken decisive action to meet these challenges by making changes to the board composition, engaging in discussions aimed at securing the services of a new Australian accountant, and sending a notification to the Hong Kong Company Registry of the lodgement of fraudulent documents.19/06/2018
On the 6 June 2018 the Board received a request from Youliang Wang purporting to represent Dingxi (Shanghai) Equity Investment Management Co. Ltd to hold an EGM on the 9 July 2018. The Company is assessing the validity of this notice and will provide a further update in due course.08/06/2018
In relation to the announcement made on 9 May 2018 regarding a request for an extraordinary general meeting of shareholders, the Board has rejected that request due to legal advice indicating the request was invalid, as it contained a number of significant errors. The Board has now received a further request to hold an extraordinary general meeting from the same shareholder, Dingxi (Shanghai) Equity Investment Management Co. Ltd.08/06/2018
The company issues a response to ASX query letter.05/06/2018
The board has been informed by the Auditors, Wei Wei & Co. today, of a material change in the company's financials, which was not previously included. The financials to 31 December 2017 cannot be relied upon at this stage. This advice relates particularly to shareholdings of subsidiary company, Shangzhi Yulong Cattle Co. Ltd. The board is investigating the matter and will provide further advice regarding the outcomes of the investigation.18/05/2018
The company has received a purported notice of requisition of general meeting from shareholder Dingxi (Shanghai) Equity Investment Management Co. Ltd. signed by one signatory, Mr Youliang Wang. The notice requests that the Directors of the Company call and hold a general meeting of the Company to consider the following resolutions: Removal of Mr. Enjia Liu as the Executive Chairman and Executive Director; Removal of Mr. Kevin Lau as the Non-Executive Director; Election of Mr Jianqiao Zhang as Non-Executive Director; Election of Mr Jieli Chen as Non-Executive Director and Election of Mr Youliang Wong as Executive Director.09/05/2018
The company provides a market update. Mr. Kevin Yau, Non-Executive Director of the company, has been appointed Australian Local Agent with effect from 16 May 2018.08/05/2018
The ASX has advised that they require the Company to complete the changes to its corporate governance arrangements. The Company is currently seeking an appropriate candidate for appointment as an Independent Non-Executive Director before selecting the Independent Chairperson. The Company will then complete any outstanding changes to its corporate governance arrangements.26/03/2018
The company lodges its Half Yearly Report and Accounts.01/03/2018
The Company has conducted a review of its corporate governance arrangements and sought professional legal advice from its Hong Kong and Australian legal advisers. The company has proposed to adopt various amendments to its corporate governance arrangements, so as to address the ASX concerns and strengthen the company's corporate governance arrangements.26/02/2018
The following securityholders will have a portion of their CDIs released from voluntary escrow as per the voluntary escrow agreements they signed with the company: Dingxi and Zhiyuan International Holding.21/02/2018
The company releases its Preliminary Financial Result Guidance.15/02/2018
Between 11 December 2017 and 16 January 2018, ASX wrote to the company, querying the corporate governance agreements that the company has had in place, to which the company has since responded. ASX advised the company that it is concerned about aspects of the company's existing corporate governance arrangements and that suspension of trading in the company's will remain until the company: reviews its corporate governance arrangement; and makes an announcement disclosing its updated corporate governance arrangements, which incorporates changes to address ASX's concerns. The company intends to submit its corporate governance arrangement to ASX for approval within 14 days of the date of this announcement.09/02/2018
The company releases its response to the ASX query letter.23/01/2018
The following securityholders will have a portion of their CHESS Depository Interests released from the voluntary escrow as per the voluntary escrow agreements they signed with the company: Dingxi (Shanghai Equity Investment Management) and Zhiyuan International Holding Co. On 4 February, a further 1/12 of the aforementioned securityholders' securities will be released from voluntary escrow.22/01/2018
The company releases the results of its meeting.27/12/2017
The Company's securities will continue to remain suspended in accordance with Listing Rule 17.3, pending further enquiries by ASX. 18/12/2017
The company issues a response to ASX Query Letter.18/12/2017
The following securityholders will have a portion of their CHESS Depository Interests released from voluntary escrow as per the voluntary escrow agreements they signed with the company: Dingxi (Shanghai Equity Investment Management) and Zhiyuan International Holding.18/12/2017
The securities of China Dairy Corporation Limited will be suspended from quotation immediately in accordance with Listing Rule 17.3, pending further enquiries by ASX Limited. 11/12/2017
listed entity carried for record purposes only08/04/2016

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    01/11/2017Andrew Stoner34,000 $0.071
    CDI
    $2,414
    29/06/2017Andrew Stoner13,088 $0.095
    CDI
    $1,243
    28/06/2017Andrew Stoner79,000 $0.467
    CDI
    $36,912
    19/04/2017Andrew Stoner50,000 $0.120
    CDI
    $6,000
    24/10/2016Andrew Stoner29,000 $0.170
    CDI
    $4,930

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Enjia LiuExecutive Chairman08/04/2016
    Andrew StonerDeputy Chairman, Independent Director30/06/2016
    Caroline HongIndependent Director27/12/2017
    Eric LinNon Exec Director12/06/2018

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Kevin YauIndependent Director03/05/201814/06/2018
    Youlian WangDirector, CEO08/04/201603/05/2018
    David BattenIndependent Director08/04/201627/12/2017
    Lidong JiangIndependent Director08/04/201627/12/2017
    John FickDeputy Chairman, Independent Director08/04/201604/07/2016

    Date of first appointment, title may have changed.