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CHINA DAIRY CORPORATION LIMITED (CDC)

Delisted from ASX 23/07/2018

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

ISIN: w
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: 
delisted from the close of trading on Monday, 23 July 2018 pursuant to Listing rule 17.12.23/07/2018
we understand the company failed and ASX removed the company from listing as its securities have not been quoted for three years23/07/2018
The company releases the results of its meeting.13/07/2018
Notice is given that the EGM of the members of the company will be held at the meeting room of Howard Johnson Sunshine Plaza Ningbo, No. 1288, Zhongshan West Road, Haishu District, Ningbo City, Zhejiang Province, China on Monday, 9 July 2018 at 10:00am China Standard Time (12:00pm Australia Eastern Time).13/07/2018
In relation to the requisition of an EGM of shareholders sought by Dingxi Equity Investment, the board has sought clarification of the applicability of Austarlian company law concerning the proposed timing and location of the EGM. As CDC is not established in Australia, its general corporate activities are not regulated by the Corporations Act or by ASIC, but rather by various Hong Kong ordinances. The date and time and location proposed by Dingxi Equity Investment Management in their communications sent via Advanced Share Registry are valid under the relevant company laws. Shareholders are encouraged to exercise their voting rights by way of response to those communications. 27/06/2018
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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I have also blown $11,500 over owning these shares. I think I got the recommendation from The Australian newspaper as they paid a good dividend.  How do we ever trust Chinese directors again.  Best bet is to sell out of any company that do not have Australian directors.  Helen

 

26/09/2018 19:55:19

How do I return my tax return next year for the delisting?   Hard to explain to ATO!  Can not believe it is related to \"Made in China\" again.

Michael

11/09/2018 17:43:33

Is there anyone knows how to contact the company? or do they still have any office or business in Australia? thanks

11/09/2018 15:36:22

Andrew Stoner & fellow unreoDr Caroline Hong (I think she is Stoner\'s wife)

 

28/08/2018 12:49:15

The 2017 Annual Report at page 28 shows a complex heirachy of companies.  At the top is CMCI whihc the report at p26 explains is China Modern Agricultural Information, Inc (the \"CMCI\"), formally known as Trade Link Wholesalers, Inc. (\"Trade Link\"), was incorporated on 22 Dec 2008 in Nevada.  On 4 Apr 2011, the name change occurred.

CMCI is a Pink Sheet company - Source: https://www.otcmarkets.com/stock/CMCI/profile

It has a \"STOP\" and \"Delinquent SEC Reporting\" status.  The Stop means \"

Indicates companies that are not able or willing to provide current disclosure to the public markets - either to a regulator, an exchange or OTC Markets Group. This category includes defunct companies that have ceased operations as well as \'dark\' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.\"

The report at p26 states China Dairy Corporation Limited (The \"Company\") formally known as Zhongxian Animal Husbandry Management Co., Ltd (the \"Zhongxian Animal\"), was incorporated on 22 Jan 2015 in Hong Kong.  On 7 Aug 2015, the name change occurred.  This is confirmed by the list of changes company names in Hong Kong (see item 383) - Source: https://www.cr.gov.hk/docs/wrpt/RNC063_2015.08.03-2015.08.09.pdf

I have talked to the ASX and they explained why the delisting occurred, and that they have written to both ASIC and the Securities and Futures Commission in Hong Kong asking for certain matters to be investigated.

I don\'t know much about a Class Action law suit but maybe we need to go that way ?

16/08/2018 22:52:57

Andrew Stoner (chairman) was buying shares in the company up to late 2017. He must have had some belief in the company. Can anyone contact him?

12/08/2018 18:21:00

Shares are in all likelihood worthless - best way to get action is probably by joining the Australian Shareholders Association

09/08/2018 07:38:55

Agree to group together and request the company to buy us out of the company. Though not sure how we can do this easily and the relevant laws behind when the company rejects our request.

 

Weiji 

07/08/2018 19:52:42

I have attempted to phone the company today only to learn that the phone number listed here is incorrect. Does the company read these comments and if so I wonder if they could give us the correct details to make contact with them?

Regards,

Ray

07/08/2018 16:03:44

Hello

I have the same situation as others who hold the shares in this company.  Since they have been delisted from ASX and it\'s a private company now, I wish to sell my shares back to the company.    I believe the best way is to contact the company secretary to request a buyback share from those private investors.  Maybe we shall group together and request the company to buy us out of the company.

Regards

Linna

07/08/2018 14:40:01

My question is the same as Yamin Zhou\'s question, is there a way to sell the share we hold in the China Dairy Corporation?

Regards,

Ray Arthur

06/08/2018 10:37:44

Hello,

Could you please advise how to get my money back after the company delisted?

Thanks,

Yamin Zhou

01/08/2018 10:15:48

Company Updates

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

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

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Jianqiao ZhangDirector09/07/2018
    Jieli ChenDirector09/07/2018
    Yue LiDirector09/07/2018

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Enjia LiuExecutive Chairman08/04/201629/06/2018
    Andrew StonerDeputy Chairman, Independent Director30/06/201629/06/2018
    Caroline HongIndependent Director27/12/201729/06/2018
    Eric LinNon Exec Director12/06/201821/06/2018
    Kevin YauIndependent Director03/05/201814/06/2018
    Youliang WangDirector09/07/201808/05/2018
    Youlian WangDirector, CEO08/04/201603/05/2018
    Lidong JiangIndependent Director08/04/201627/12/2017
    David BattenIndependent Director08/04/201627/12/2017
    John FickDeputy Chairman, Independent Director08/04/201604/07/2016

    Date of first appointment, title may have changed.