Asia citrus director takes a top-up

published 5 July 2011

Non-executive director Nicholas Smith has topped up his holding in the Chinese orange grower and juice maker Asian Citrus, spending about £60,000.He took 100,000 shares at HK$7.41 (59.4p) a time, and now has 532,596.Smith, an accountant, has worked investment banking in Europe and Asia for Flemings, Jardine Fleming and HSBC. He also sits on the boards of Schroder AsiaPacific Fund and the Chinese food preservatives group Sorbic International.Asia Citrus has two plantations, in the provinces of Hepu and Jiangxi, with a third in Hunan Province expected to produce its first harvest in 2014. The existing plantations benefit from low labour costs, with hourly wages starting at just US$0.26 an hour.Top Director BuysUtilico Emerging Markets Ltd. (UEM) Director name: Mr Kevin J O'ConnorAmount purchased: 459,779 @ 166.50p Value: £765,532Reconstruction Capital II Ltd. (RC2) Director name: Mr Ion Alexander FlorescuAmount purchased: 400,000 @ €0.67 Value: €267,600Asian Citrus Holding (ACHL) Director name: Mr Nicholas SmithAmount purchased: 100,000 @ 59.38p Value: £59,380