Aquatic Foods Group PLC Appointment of Non-Executive Director (5934Y)

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RNS Number : 5934Y

Aquatic Foods Group PLC

10 September 2015

 
 Press Release   10 September 2015 
 

Aquatic Foods Group Plc

("Aquatic Foods" or the "Company")

Appointment of Non-Executive Director

Aquatic Foods Group Plc (AIM: AFG), a leading Chinese marine foods and seafood processor and producer, supplying to export and local markets, is pleased to announce the appointment of Jonathan Quirk as Senior Non-Executive Director.

Jonathan Quirk has over 40 years of experience in the financial services sector. As a qualified Chartered Accountant, Jonathan previously held positions at Morgan Grenfell and Deutsche Bank in their capital markets divisions. In 1997 Jonathan became a Founding Director of Cairnsea Investments Ltd, an investment company, where for the last 15 years he has specialised in investing in quoted and unquoted small companies, particularly in the financial and natural resources sectors and more recently has focused on China.

Jonathan is currently senior Non-Executive Director of AIM quoted BlueRock Diamonds plc and Tri-Star plc.

Jonathan will sit on the Company's Remuneration and Nomination committees as well as chairing the Company's Audit committee and AIM Compliance committee.

Li Xianzhi, Chief Executive of Aquatic Foods Group, commented, "Aquatic Foods is pleased to announce the appointment of Jonathan as a Non-Executive Director of the Company. Jonathan brings with him extensive knowledge of international capital markets and AIM as well as exposure and an understanding of Chinese markets. Aquatic Foods is confident that Jonathan's appointment to the Board will prove to be a positive addition and will help the Company to not only deliver upon its IPO strategy to expand in both the local Chinese and international markets but will also help the Board to deliver shareholder value."

This announcement sets out the disclosures required pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies.

Jonathan Quirk, aged 63, currently holds or has held the following directorships and partnerships in the last five years:

Current

Bluerock Diamonds Plc

Cairnsea Investments Ltd

Collabrium Asia

Tri-Star Resources Plc

Past 5 years

Blackdown Sporting Estates Ltd

ILEX Asset Management (UK) LLP

Metropolitan Safe Deposits Ltd

Mount Street Advisory Services Ltd

Mount Street Investment Management Ltd

Old River Diamonds

The River Barle Fishing Club Ltd

Trivelles Management Ltd

Jonathan Quirk was a director of Advanced Visual Security plc which appointed an administrative receiver on 9 October 1998. There was a deficiency to creditors of GBP78,595.42.

Jonathan Quirk was a director of Masterpack DSK Limited which was put into administration on 29 April 1999. Preferential creditors received 100p in the pound and unsecured creditors received 68p in the pound. There was no return to shareholders.

- Ends -

For further information:

 
 Aquatic Foods Group Plc 
 Sean Lim, Finance Director   Tel: [phone] 
                                  www.aquatic-foods.com 
 
 
 SP Angel Corporate Finance LLP 
  Nominated Adviser and Broker 
 David Facey/ Stuart Gledhill     Tel: [phone] 
                                          www.spangel.co.uk 
 

Media enquiries:

 
 Abchurch Communications Limited 
 Julian Bosdet / Jamie Hooper /    Tel: [phone] 
  Canace Wong 
 [e-mail]      www.abchurch-group.com 
 

Notes to Editors:

Aquatic Foods Group is a leading marine foods and seafood processor and supplier based in China. The Group initially built its business through focusing on the export market (principally Japan under the "Kanwa Foods" brand), and subsequently established the "Zhenhaitang" brand in 2007 in mainland China to take advantage of the growing market driven by growing disposable income within the Chinese middle-classes and a more health conscious consumer base.

The Group benefits from excellent food safety procedures developed over many years which have helped the Group to build a strong track record of supplying its products into overseas markets. This track record has enhanced the perception of the quality and reliability of the Group's products in China and has allowed the Group to expand significantly into local markets as demand for seafood products has increased. In a market that has seen regular public health scares relating to food safety, the Group considers that its adherence to these standards to be a key strength. The Group has obtained the following key standards:

   -      ISO 9001 Quality Management System certification 
   -      HACCP Food Safety System certification 
   -      BRC certification; and 
   -      Marine Stewardship Council certification 

Aquatic Foods works with a network of distributors to effectively market its products in China. The Group has continued to grow its distributor relationships and now distributes its products in 16 provinces, municipalities and autonomous regions in China through 50 regional distributors. These distributors in turn sell the Group's products to sub-distributors and retailers, including supermarket chains and hypermarkets.

Further information can be viewed at www.aquatic-foods.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 10, 2015 02:01 ET (06:01 GMT)