Asian Citrus names Acting Chief Finance Officer

AIM-listed orange plantation operator and owner Asian Citrus has reported that Mr. Sung Chi Keung has tendered his resignation as Executive Director, Finance Director and Company Secretary with effect as of June 30th to pursue his own personal business interests.

The board said that Mr. Lau Hak Kin had, in the interim, been appointed as the Acting Chief Financial Officer of the company with effect as of July 1st 2013.

Mr Lau Hak Kin, who is currently the Financial Controller of the group, would oversee the accounting, finance and treasury functions of the company, the group said. He joined the company in December 2005 and holds a bachelor's degree in business administration, major in accountancy, from the Chinese University of Hong Kong.

The board said that it had formed a committee to identify a suitable candidate to fill the role of Chief Financial Officer on a permanent basis.

Meanwhile, Mr. Ng Cheuk Lun was appointed as the Company Secretary of the company with effect as of July 1st and Mr. Tong Hung Wai, was appointed as an Authorised Representative of the company to the Hong Kong Stock Exchange with effect as of July 1st 2013.

The board said that it would like to express its gratitude to Mr. Sung for his contributions over the years and welcomed Mr. Lau and Mr. Ng to their new positions in the company.

Asian Citrus' main country of operation is China, where all of its plantations are based. It currently owns and operates two orange plantations, the Hepu Plantation in Hepu County in the Guangxi Zhuang Autonomous Region, occupying approximately 30.9 sq.km, and the Xinfeng Plantation in Xinfeng County in Jiangxi province, occupying approximately 37.1 sq.km.

Asian Citrus' share price was down 3.14% to 27p at 13:19 on Friday.

MF