Agria Corporation American Depo (NYSE:GRO)

AUCKLAND, NEW ZEALAND--(Marketwired - Nov 8, 2016) -  Agria Corporation ( NYSE : GRO ) ("Agria" or "the Company"), today announced that it will appeal the decision by the New York Stock Exchange ("NYSE") to commence proceedings to delist the American Depository Shares ("ADSs") of Agria from the NYSE. Trading of the Company's ADSs was suspended on November 3, 2016, after the NYSE notified the company of the decision to commence delisting proceedings.

The Company disagrees with the statements included in the NYSE's press release, dated November 3, 2016, and intends to challenge the NYSE's investigation findings and conclusions. The Company is in the process of appealing to the Committee of the Board of Directors of the NYSE, and will continue to work with the NYSE during the appeal process.

AUCKLAND, NEW ZEALAND--(Marketwired - Nov 4, 2016) - Agria Corporation ("Agria" or "the Company"), today announced that it received a letter from the New York Stock Exchange ("NYSE"), on November 3, 2016 (the "Letter"), informing the Company that the NYSE has determined to commence proceedings to delist the American Depositary Shares ("ADSs") of Agria from the NYSE. Trading of the Company's ADSs was suspended on November 3, 2016.

Prior to the notice of commencement of proceedings to delist the Company's ADSs, the Company received a request for information from the NYSE on July 13, 2016 in connection with a review of the Company's compliance with the NYSE's minimum price requirements and trading activity. The Company has been, and will continue to, work with the NYSE in responding to its request for information.

According to NYSE, the determination to delist the Company was based on an investigation conducted by NYSE Regulation, which uncovered evidence demonstrating that the Company and its management engaged in operations contrary to the public interest and not in keeping with sound public policy pursuant to Section 802.01D of the Listed Company Manual. NYSE stated that it identified evidence indicating that the Company (i) through a top executive and other intermediaries engaged in trading intended to artificially inflate Agria's stock price, including to improperly avoid having the Company delisted for failing to comply with NYSE's continued listing standards requiring companies to maintain an average stock price of at least $1.000 per share over a consecutive thirty-day trading period; and (ii) provided incomplete, misleading, or false information in connection with investigations related to these issues.

The Company is in the process of obtaining additional information about the circumstances of the NYSE allegations and considering additional options, including filing an appeal to the Committee of the Board of Directors of the NYSE challenging the commencement of delisting proceedings.

In addition, on December 23, 2015, the Company received a subpoena from the United States Securities and Exchange Commission ("SEC") in connection with a non-public investigation. The SEC's subpoena is focused on, among other things, Agria's historic and ongoing business operations in China. The subpoena advised that the existence of the investigation should not be construed as an indication by the SEC or its Staff that the Company or any of its officers or directors had violated any of the federal securities laws. The company is cooperating with the SEC's investigation.

AUCKLAND, NEW ZEALAND--(Marketwired - Nov 4, 2016) - Agria Corporation ("Agria" or "the Company"), today announced that it received a letter from the New York Stock Exchange ("NYSE"), on November 3, 2016 (the "Letter"), informing the Company that the NYSE has determined to commence proceedings to delist the American Depositary Shares ("ADSs") of Agria from the NYSE. Trading of the Company's ADSs was suspended on November 3, 2016.

Prior to the notice of commencement of proceedings to delist the Company's ADSs, the Company received a request for information from the NYSE on July 13, 2016 in connection with a review of the Company's compliance with the NYSE's minimum price requirements and trading activity. The Company has been, and will continue to, work with the NYSE in responding to its request for information.

According to NYSE, the determination to delist the Company was based on an investigation conducted by NYSE Regulation, which uncovered evidence demonstrating that the Company and its management engaged in operations contrary to the public interest and not in keeping with sound public policy pursuant to Section 802.01D of the Listed Company Manual. NYSE stated that it identified evidence indicating that the Company (i) through a top executive and other intermediaries engaged in trading intended to artificially inflate Agria's stock price, including to improperly avoid having the Company delisted for failing to comply with NYSE's continued listing standards requiring companies to maintain an average stock price of at least $1.000 per share over a consecutive thirty-day trading period; and (ii) provided incomplete, misleading, or false information in connection with investigations related to these issues.

The Company is in the process of obtaining additional information about the circumstances of the NYSE allegations and considering additional options, including filing an appeal to the Committee of the Board of Directors of the NYSE challenging the commencement of delisting proceedings.

In addition, on December 23, 2015, the Company received a subpoena from the United States Securities and Exchange Commission ("SEC") in connection with a non-public investigation. The SEC's subpoena is focused on, among other things, Agria's historic and ongoing business operations in China. The subpoena advised that the existence of the investigation should not be construed as an indication by the SEC or its Staff that the Company or any of its officers or directors had violated any of the federal securities laws. The company is cooperating with the SEC's investigation.

CHRISTCHURCH, NEW ZEALAND--(Marketwired - Oct 18, 2016) -  Agria Corporation ( NYSE : GRO ) (the "Company" or "Agria"), a leading global agriculture company, today announced that its New Zealand-listed subsidiary PGG Wrightson Limited ( NZSE : PGW ) ("PGW") disclosed its guidance for fiscal year 2017.

PGW expects net income to be flat with FY 2016 net income, and Operating EBITDA to be in a range of NZ$62 to NZ$68 million.

Mr. Alan Lai, Executive Chairman of Agria and Chairman of the PGW Board, commented, "PGW faces challenging conditions in the trading environment, but is committed to sustaining its profitability in the coming fiscal year. In New Zealand, cattle volume is strong and the horticulture market is robust. Conversely, wool demand is soft and irrigator sales are down, due to the ongoing weakness in the dairy sector. In general we see a marginally tougher environment to start the year. Furthermore, we still do not know the full extent of the impact of the flooding in Uruguay.

"Over the past three years, we have transformed PGW into a robust and resilient enterprise, poised for high growth in benign environments and able to sustain profitability in tough conditions. Our guidance demonstrates our confidence in the strategy. Despite the challenges in our markets, we intend to earn at least as much as last year, even while we invest in future growth opportunities."

Lai concluded, "Our confidence in the prospects at PGW is reflected in our ADS repurchase program, which commenced earlier this month. We are actively repurchasing our ADSs daily. The ADS repurchase program is an outstanding use of capital, since our ADSs remain substantially undervalued relative to the assets owned by Agria. Our economic interest in PGW is worth over $130 million at PGW's current trading prices and exchange rates. Looking at our total balance sheet including other assets and debt, our net asset value is over $1.50 per ADS. As long as our ADSs remain so undervalued, we will aggressively repurchase our shares."

CHRISTCHURCH, NEW ZEALAND--(Marketwired - Aug 2, 2016) - Agria Corporation ( NYSE : GRO ) (the "Company" or "Agria"), a leading global agriculture company, today announced that its New Zealand-listed subsidiary, PGG Wrightson Limited ( NZSE : PGW ) ("PGW") raised its guidance for fiscal year 2016 Operating EBITDA for the second time in two months.

PGW now expects to report Operating EBITDA above the upper end of the guidance range of NZ$65 to NZ$68 million (US$46 million to US$49 million) announced in June 2016. Additionally, PGW expects net profit for fiscal year 2016 to be up at least 20% compared to fiscal year 2015.

Mr. Alan Lai, Executive Chairman of Agria and Chairman of the PGW Board, commented, "Business momentum continues to build at PGW, as growth initiatives and strong execution enabled us to deliver stronger-than-expected fiscal year 2016 results. Despite headwinds in the dairy sector, our Livestock and Retail businesses did well, and Seed and Grain continues to grow. Our solid execution this year gives us confidence in our ability to expand the business again in fiscal year 2017 and beyond. We look forward to discussing our performance in more detail when we report results shortly."

Mr. Lai continued, "Our solid and improving results increase our belief that the value of PGW is not fully reflected in Agria's share price. We believe the value of our shareholding in PGW is significantly above US$1 per Agria ADS, based on the recently quoted price of PGW on the New Zealand Stock Exchange. We believe we can resolve this valuation anomaly, due to our ongoing campaign to introduce the Agria story to leading US analysts and investment funds, combined with our ADS repurchase program."

Agria expects to announce results for the fiscal year 2016 on August 19, 2016.

CHRISTCHURCH, NEW ZEALAND--(Marketwired - Jun 15, 2016) - Agria Corporation (NYSE:GRO) (the "Company" or "Agria"), a leading global agriculture company, today announced that its New Zealand-listed subsidiary, PGG Wrightson Limited (NZSE: PGW) ("PGW") raised its guidance for fiscal year 2016 Operating EBITDA. PGW now expects to report Operating EBITDA in a range of NZ$65 to NZ$68 million, above the original guidance range of NZ$61 to NZ$67 million.

Mr. Alan Lai, Executive Chairman of Agria and Chairman of the PGW Board, commented, "The momentum at PGW continues to improve, as growth initiatives and strong execution enabled us to overcome challenging conditions in the trading environment in our regions. The autumn sales season was strong in New Zealand, with Seed and Grain, Retail, and Livestock all exceeding our previous expectations. This achievement is notable, given the soft conditions in the New Zealand and South American dairy sectors."

HONG KONG, CHINA--(Marketwired - Jun 13, 2016) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agriculture company, today announced that the Company was notified by the New York Stock Exchange ("NYSE") that the Company is not in compliance with the NYSE minimum average closing price continued listing standard. The standard requires a listed security to maintain a minimum average closing price of $1.00 per share over a consecutive 30-trading-day period. The NYSE noted that the minimum average closing price is the only listing criteria with which the Company is not in compliance. The Company has six months from receipt of the notification to bring its ADS price and average ADS price back above $1.00.

Alan Lai, Executive Chairman of Agria, commented, "We are committed to maintaining our NYSE listing and are formulating plans intended to restore our compliance with the listing standard. Furthermore, we expect to significantly increase our investor relations activity in the months ahead. We are excited about Agria's prospects for growth and improving profitability, and want to ensure that our investors are fully informed of the Company's performance and future growth initiatives."

HONG KONG, CHINA--(Marketwired - Jun 8, 2016) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that its Board of Directors has authorized a share repurchase program, under which the Company may repurchase up to $10 million of its outstanding American Depositary Shares ("ADSs") through December 31, 2017.

The repurchases may be made on the open market at prevailing market prices, in privately negotiated transactions, in block trades or through other legally permissible means as determined by Agria's management, including through Rule 10b5-1 share repurchase plans. The timing and extent of any purchases will depend on market conditions and be in accordance with applicable rules and regulations. Agria's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. Agria plans to fund repurchases made under this program from its available cash balance.

Agria Executive Chairman Alan Lai commented, "We are pleased with our strategic investment in PGG Wrightson Limited ("PGW"), as we have successfully turned around PGW since 2009. PGW has over the last few years consistently delivered good results and performed well across all lines of its business. We are confident of the growth and strategic opportunities PGW will bring to the Company and our shareholders. Our Board of Directors and senior management strongly believe that the current valuation of Agria shares does not reflect the intrinsic value of the Company and the growth and strategic opportunities of PGW."

 
HONG KONG, CHINA--(Marketwired - Mar 1, 2016) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agricultural company, today announced its financial results for the six months ended December 31, 2015.
Note: All figures refer to the first half of fiscal year 2016 (i.e. six months ended December 31, 2015) unless otherwise noted. Comparisons of Consolidated Statements of Profit or Loss are to the first half of fiscal 2015 (i.e. six months ended December 31, 2014). Comparisons of Consolidated Statements of Financial Position are to June 30, 2015 unless otherwise noted. While the Company reports results in US Dollars, it transacts the majority of its business in New Zealand dollars. To assist in understanding the underlying economic trends of the business, the presentation below reports results both in USD in conformity with IFRS, and on a "constant currency" basis that removes the significant impact of volatility in the average USD/NZD foreign currency exchange rates during the reporting period (0.6627) by using prior period rates (0.8094) on current period results.
Financial Highlights:
Revenue was $420.2 million, a decrease of 22%. Gross profit of $109.4 million declined by 17%, however gross profit margin increased to 26%, a 150 basis point expansion. Operating expenses were $96.1 million, a 13% decline. Operating profit was $13.6 million, or 3% of revenue, a decline of 39%. Net profit was $2.5 million, or $0.023 per share, down 80%. Net loss attributable to shareholders was $3.8 million, or $(0.035) per share.
During the reporting period, the average US dollar/New Zealand dollar exchange rate appreciated by 22%. The following "constant currency" analysis reports results as if the USD/NZD exchange rate was unchanged during the period. This pro forma analysis does not conform to IFRS, and is offered strictly to aid in understanding the factors driving the Company's results.
On a "constant currency" basis, revenue was $511.6 million, a decrease of 5%. Gross profit of $133.1 million increased by 1%, gross profit margin increased to 26%, a 150 basis point expansion. Operating expenses were $115.8 million, a 5% increase. Operating profit was $17.6 million, or 3% of revenue, a decline of 21%. Net profit was $4.9 million, or $0.044 per share, down 61%. Net loss attributable to shareholders was $2.9 million, or $(0.026) per share on a "constant currency" basis.

HONG KONG, CHINA--(Marketwired - Jan 29, 2016) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that its board of directors (the "Board") has received a preliminary non-binding proposal letter, dated January 28, 2016, from Mr. Guanglin Lai, executive chairman of the Company, and Brothers Capital Limited, a British Virgin Islands company wholly-owned by Mr. Lai (together with Mr. Lai, the "Buyer Group"), to acquire all of the outstanding ordinary shares of the Company not owned by the Buyer Group, including ordinary shares represented by American depositary shares (the "ADSs", each representing two ordinary shares), for $0.60 in cash per ordinary share, or $1.20 in cash per ADS. A copy of the proposal letter is attached hereto as Exhibit A.

The Board has formed a special committee consisting of three independent and disinterested directors, Lee Joo Hai, Sean Shao and Wah Kwong Tsang (the "Special Committee"), to consider the proposal. The Special Committee has retained Kirkland & Ellis as its U.S. legal counsel and intends to retain an independent financial advisor in due course to assist it in this process.

The Company cautions its shareholders and others considering trading its securities that the Board has just received the proposal letter and neither the Board nor the Special Committee has had an opportunity to carefully review and evaluate the proposal or make any decision with respect to the Company's response to the proposal. There can be no assurance that any definitive offer will be made, that any definitive agreement will be executed relating to the proposed transaction or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

HONG KONG, CHINA--(Marketwired - Oct 28, 2015) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that its New Zealand-listed subsidiary, PGG Wrightson Limited* (NZSE: PGW) ("PGW"), expects its fiscal year 2016 Operating EBITDA** to be in the NZ$61 to NZ$67 million range. 

Mr. Alan Lai, Executive Chairman of Agria and Chairman of the PGW Board, commented, "We believe PGW's business is on the right path and that operational improvements made at PGW extend deeper than the earnings growth shareholders have experienced in recent years. We remain confident that the PGW's business can achieve the right balance between operational execution, continuous improvement and growth. Through these efforts, Agria's results can strengthen and further bolster our overall growth and geographic expansion.

HONG KONG, CHINA--(Marketwired - Aug 21, 2015) - Agria Corporation (NYSE:GRO) (the "Company" or "Agria"), a global agricultural company, today announced its financial results for the fiscal year ended June 30, 2015.

Note: All figures refer to the fiscal year 2015 unless otherwise noted. All comparisons are to the fiscal year 2014 unless otherwise noted.

Financial Highlights:

• Revenue was $944.7 million, a decrease of 7.7%. Excluding changes in foreign currency exchange rates, revenue decreased 1.1% to $1.0 billion. Revenue decreased 16% in Seed and Grain, 5% in Crop Protection, Nutrients and Merchandise, and increased 2% for Rural Services. 
  
  
• Operating profit was $41.3 million, an increase of 19.3%. Excluding changes in foreign currency exchange rates, operating profit increased 29% to $44.8 million. Operating profit increased 22% in Seed and Grain, while declining 4% in Crop Protection, Nutrients and Merchandise and 9% in Rural Services. Operating profit growth was driven by gross margin expansion of 130 basis points to 26.6%. 
  
  
• Net profit was $14.7 million, a decrease of 43.8%. The decrease in net profit reflects the negative impact of changes in foreign currency exchange rates, a decline in income from non-operating items, increased financing costs, and higher income tax expense. Net profit attributable to shareholders decreased 107.6% to loss of $0.5 million, or loss of $0.004 per share. 
  
  

Mr. Alan Lai, Agria's Executive Chairman, commented, "We are pleased to announce our fiscal 2015 financial results, as we once again delivered operating profit growth amidst challenging market conditions. We continue to emphasize profitability and operational efficiency over revenue growth as a core strategy for managing our business. Our results this year were impacted by unfavorable changes in the NZD/USD exchange rate. However for fiscal year 2015, our operating profit was up 19% over fiscal 2014, despite an 8% decrease in revenue. This growth was driven by Seed and Grain, for which operating profit increased by an impressive 22% over the prior fiscal year."

Mr. Lai continued, "Meanwhile, our subsidiary PGG Wrightson announced several new partnerships and acquisitions in the second half of the year to help us continue to advance our international footprint and strengthen our position for future growth. Notably, our recently-acquired interest in Agrocentro Uruguay serves as an integral component in our expansion in South America, which is a high potential market for us. We continue to evaluate new opportunities to strategically expand our business, and fuel sustainable and profitable growth for the years to come."

HONG KONG, CHINA--(Marketwired - Aug 11, 2015) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agricultural company, today announced that its New Zealand-listed subsidiary, PGG Wrightson Limited (NZSE: PGW) ("PGW"), released its financial results for the fiscal year ended June 30, 2015. These results will be consolidated into Agria's results for the fiscal year ended June 30, 2015, which the Company plans to report to the market later this month.

or the fiscal year ended June 30, 2015, PGW reported operating earnings before interest, tax, depreciation and amortization ("Operating EBITDA")⁽¹⁾ of NZ$69.5 million, up 18% from NZ$58.7 for the prior fiscal year. Operating EBITDA for PGW's major business segments increased by 7% for Retail, 15% for Livestock and 19% for Seed & Grain.

PGW's board of directors declared a fully imputed dividend of NZ2 cents per share to be paid on October 1, 2015.

Mr. Alan Lai, Executive Chairman of Agria and Chairman of the PGW Board commented, "We are very pleased with PGW's financial results as well as the progress PGW has made delivering its 'One PGW' strategy. Additionally, recent initiatives including the investment in Agrocentro Uruguay and Grainland in Australia strengthen PGW's geographic presence and future growth potential."

Mark Dewdney, Chief Executive of PGW, commented, "This is a very strong result given the challenges facing some sectors of New Zealand agriculture over much of the year. PGW is not immune to such challenges, but the diversified portfolio of our agriculture business offers a degree of protection from cyclical volatility in any individual sector. This is demonstrated by recently released Statistics NZ data that show that in the same period that dairy exports declined by 24%, the value of fruit exports reached an all-time high in the year up to June, an increase of almost 20% from the same period last year."

"Challenging market conditions in the dairy sector have resulted in reduced demand for some of our lower margin activities, such as grain, fertilizer and supplementary feed, which partially explains the flat revenue year over year. Despite the challenges facing the dairy sector through June of this year, most of the financial results of our individual business units have improved. This is due to a combination of PGW's clear strategic focus, highly engaged and stable staff, and the strongest product portfolio in the market, backed by deep technical expertise and a constant focus on building extremely close relationships with our customers."

"The increase in Operating EBITDA contributed to a net profit after tax of $32.8 million, which is lower than last year due to a lower effective tax rate and a number of one-off non-operating gains in the prior year, such as the gain on the sale of our Heartland New Zealand investment."

Mr. Dewdney concluded, "The headwinds facing the dairy sector make it challenging to increase our growth for the 2016 financial year. Further improvements in efficiency will be made within the business, and we will continue to explore new growth opportunities. However, given the current volatility in a number of markets and the need to assess the likely impact on PGW's clients, we plan to defer providing a forecast for the current fiscal year until the annual shareholders meeting in October."

¹PGW's definition of Operating EBITDA: Earnings before net finance costs, income tax, depreciation, amortization, the results of discontinued operations, fair value adjustments, non-operating items and equity accounted earnings of associates.

HONG KONG, CHINA--(Marketwired - Aug 4, 2015) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that its New Zealand-listed subsidiary, PGG Wrightson Limited (NZSE: PGW) ("PGW"), confirms that the New Zealand Commerce Commission (the "Commission") has filed court proceedings in relation to allegations of price fixing by PGW's livestock division in connection with the implementation of the National Animal Identification and Tracing Act 2012 ("NAIT").

PGW has cooperated fully with the Commission in its investigations in relation to the matter and is maintaining an ongoing dialogue in relation to the concerns raised about NAIT-related fees.

Given that this case is now before the courts, PGW cannot comment further at this time.

BEIJING, CHINA--(Marketwired - Jul 14, 2015) -  Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that its New Zealand-listed subsidiary, PGG Wrightson Limited (NZSE: PGW) ("PGW"), has signed an agreement to purchase fifty percent of the shares of Agrocentro Uruguay with a target settlement date of August 31, 2015. The transaction involves an upfront payment and a capped earn out component over the next three years based on the performance of the business.

Agrocentro Uruguay is a rural servicing company that was founded in eastern Uruguay in early 2007. It was established to provide agricultural sales, support and rural services to improve profitability for farmers. It has four different business units, consisting of retail and distribution of agricultural inputs, farming, logistics, and consulting. The business has approximately 120 staff, including 28 agronomists and veterinarians and a very proactive and skilled management team. Agrocentro Uruguay currently has eight retail branches located across Uruguay and is well positioned for further growth.

Agrocentro Uruguay is a regional pioneer in the development of advanced technology systems for meat production and forage-based seed production, and is also a market leader in sales of inputs and services. PGG Wrightson Seeds ("PGW Seeds"), a subsidiary of PGW, has been a key strategic partner and has supported Agrocentro Uruguay's business since its inception, which has since achieved impressive growth. Agrocentro Uruguay is PGW Seeds' largest customer in South America as well as its largest seed producer and is a vital seed processor for PGW Seeds.

Mr. Alan Lai, Executive Chairman of Agria and Chairman of the PGW Board commented, "It is a pleasure to announce this transaction as we continue to expand Agria's global footprint in high growth markets such as South America."

PGW's Group General Manager of Seed & Grain, John McKenzie, said, "This investment makes good strategic sense for both parties. We have had a long standing and successful relationship and we understand the business. We have shared goals for the future and this alignment of interests positions the business favorably for future growth and compliments PGW's existing South American operations very well."

PGW's Chief Executive, Mark Dewdney, commented, "The transaction presented PGW with the opportunity to consolidate the growth the business has experienced in South America while importantly also reconfiguring our operations for future growth. The transaction secures a strong position in retail distribution while also cementing a key strategic alliance. It aligns with our growth strategy for South America and also compliments the recent investment we have made in the construction of our new warehousing and logistics facilities in Montevideo."

Mr. McKenzie noted, "Following settlement, PGW and Agrocentro Uruguay will continue operating as they do today, as two separate companies. However, the businesses will work together collaboratively to consolidate their operations where commercially sensible to provide better and more efficient service to farmers. We expect that this strengthening of our partnership will in time result in improved services, logistics, product development, technology transfer and new business opportunities that will help to develop and grow the Uruguayan agricultural sector."

BEIJING, CHINA--(Marketwired - May 19, 2015) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") refers to its earlier announcement on May 15 establishing the Agria-Lincoln Partnership and today announces that it has established a five year cooperation agreement with the city government of Guiyang, the capital of Guizhou province in China, to modernize agricultural production in the area.

With the support of the Guiyang government, Agria will take active measures to implement modernized agricultural technology to Guiyang with the goal of contributing to Guiyang's agricultural modernization efforts as well as its overall economic development. The potential market opportunity is significant for Agria as the population in Guizhou province exceeds 34 million residents while Guiyang's population is close to 3 million residents.

Under the cooperation agreement, the two parties intend to cooperate on a number of development and modernization initiatives in and around Guiyang that include:

• The development of a China-New Zealand free trade demonstration park;
• The development of seed and livestock demonstration farms;
• Local government support for Agria to import its advanced agricultural technology, especially in livestock, into Guizhou;
• Participation including joint investments with relevant state-owned enterprise in promoting trade and investment activities;
• Setting up agricultural finance and trading businesses;
• Setting up a development fund to invest in local agricultural enterprises; and
• Educational exchange, vocational and professional training services.

Mr. Alan Lai, Agria's Executive Chairman, commented, "We are pleased to partner with the Guiyang government to assist with their agricultural development and modernization efforts in the region. This high level of cooperation with the support of the Guiyang Government will facilitate technology and economic exchange between China and New Zealand. We are excited to play our role in contributing to the economies of both countries. Our efforts will be supported by key partners, including Lincoln University, to provide relevant technology, training and education support to the Guiyang initiative."

A signing ceremony will occur on May 19^th to commemorate this announcement. Key representatives at this event include Agria's Executive Chairman, Mr. Alan Lai, Standing Committee Member of The Provincial Government of Guizhou and Party Secretary of Guiyang Municipality, Mr Chen Gang and Lincoln University representative, Professor Bruce MacKenzie.

Lincoln University's Vice-Chancellor, Dr. Andrew West, added, "We are thrilled to be involved in this project with Agria and look forward to contributing our applied commercial agriculture research and development capabilities to this project."

BEIJING, CHINA--(Marketwired - May 15, 2015) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that it has established a partnership platform with Lincoln University in New Zealand (the "Agria-Lincoln Partnership Platform") for the purpose of collaboration in research and innovation, development, training and education between the two parties.

Established in 1878, New Zealand-based Lincoln University is a specialist land-based university focused on teaching, research and technological innovations in agriculture and life sciences providing the foundation of knowledge for land-based, sustainable production.

The initial focus of cooperation of the Agria-Lincoln Partnership Platform will be the promotion of research and development and commercialization of New Zealand's sustainable agriculture industry, as well as the promotion of educational exchange between China and New Zealand. Accordingly, the cooperation is expected to include, among other things: research, development and innovation activities between the parties; education certification at the Masters and PhD levels, including structured PhD programs; vocational and technical training courses (e.g., farm management and sustainable agriculture management and practices); and consultancy services and industrial support. The Agria-Lincoln Partnership Platform will be effective for 10 years, at which time it will be subject to review by both parties.

Mr. Alan Lai, Agria's Executive Chairman, commented, "We are pleased to announce the establishment of the Agria-Lincoln Partnership Platform with Lincoln University, one of the preeminent agriculture and life sciences universities in New Zealand. This partnership platform aligns with Agria's broader plan to develop comprehensive, technology-driven farm management and animal nutrition and feeding services in China. In the last five years, China has invested billions of dollars into building the infrastructure for commercial dairy farming; however, inefficient quality and management of feed contribute to exceptionally high production costs with low productivity in China. Addressing this requires a shift to a systems approach in order to enable increased yield and reduced environmental impact, which Lincoln University and this partnership platform seek to achieve. By partnering with advanced institutions such as Lincoln University, we are developing an eco-system that represents a significant opportunity for Agria and its partners going forward."

Lincoln University's Vice-Chancellor, Dr. Andrew West, added, "New Zealand is a world leader in pastoral agriculture and China is rapidly becoming a large market for New Zealand exports both in terms of primary products and agriculture services and technologies. We believe that through our partnership platform with Agria, the campus at Lincoln University can become a flagship for collaboration in applied commercial agriculture research and development between China and New Zealand."

BEIJING, CHINA--(Marketwired - Feb 27, 2015) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agricultural company, today announced its financial results for the six months ended December 31, 2014. Financial performance featured substantially higher operating and net profit, as the Company improved gross margins while holding operating expenses relatively flat.

Note: All figures refer to the first half of fiscal year 2015 unless otherwise noted. All comparisons are to the first half of fiscal 2014 unless otherwise noted.

Financial Highlights:

• Revenue was $538.9 million, an increase of 1.9%. Revenue increased 19% in Rural Services, 4% in Crop Protection, Nutrients and Merchandise, and declined 11% in Seed and Grain.
• Net profit was $12.6 million, an increase of 61%. Net profit growth reflects the higher operating profit and lower financing costs, offset by higher income taxes. Net profit attributable to shareholders increased 118% to $3.2 million, or $0.03 per share.
  

Mr. Alan Lai, Agria's Executive Chairman, commented, "Results for the first half of the fiscal year were quite satisfactory, demonstrating the wisdom of our focus on restoring strong profitability across all of our operations. Each of our business segments was solidly profitable, with two of the three reporting exciting profit growth. We are favoring profit over sales growth in how we manage our businesses. For instance, Seed and Grain saw an 11% sales decline, yet a 36% increase in operating profit. Greater profit and the associated cash flow will enable us to fund upcoming growth initiatives, as we continue to pursue our objective of becoming a recognized leader in the global agriculture industry."

BEIJING, CHINA--(Marketwired - Dec 22, 2014) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agricultural company, today announced that its subsidiary, PGG Wrightson Limited ("PGW") reiterated its previously issued guidance and reaffirmed its expectation for improvement on last year's operating EBITDA of NZ$58.7 million, excluding earnings of associates.* PGW noted that its financial performance so far in the fiscal year is meeting expectations despite lower forecasted dairy payouts.

Mr. Alan Lai, the Company's Executive Chairman, commented, "We are very pleased to continue to see strong performance from PGW, despite some pockets of challenging market conditions. PGW is an integral element of our global strategy, and its strong performance thus far should drive Agria's overall growth in the first half of the fiscal year. Our renewed focus on investing in our people, infrastructure and products is proving to be worthwhile, as our results continue to improve in each period."

Mr. Mark Dewdney, Chief Executive Officer of PGW, commented, "Our performance thus far in the first half -- despite current market conditions -- highlights the strength of PGW's diverse product and service portfolio across New Zealand and international agricultural sectors. Our confidence remains high in the sheep and beef sectors and this strength should see the business well-placed if we encounter reduced dairy related spend over the remainder of the financial year."

"Further guidance will be provided when our half year results are announced. There remains some uncertainty with respect to the second half of the financial year, as we are starting to see some signs of market softness in areas related to dairy. Livestock, Seeds Australia and South America all make their biggest contributions in the second half, and results are also impacted by weather and commodity prices," concluded Mr. Dewdney.

Agria expects to announce its half year results in late February or early March, with details of the announcement to be confirmed closer to the time.

BEIJING, CHINA--(Marketwired - Nov 11, 2014) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agricultural company, today announced that Mr. Patrick Tsang, Chief Financial Officer of the Company, has tendered his resignation to pursue other opportunities. Mr. Tsang will also relinquish his position as a Director of the Company's subsidiary, PGG Wrightson Limited ("PGW").

Having led the finance team in the completion and filing of the 20F for year ended June 30, 2014, Patrick will continue to remain with the Company until November 15, 2014 to assist it in preparing for the transition to his successor. Patrick confirms that he does not have, and never had, any disagreements with the Company, its management or the Board of Directors and committees of the Board of Directors regarding any matters concerning which do or could affect the Company's financial statements and SEC reporting, and the audit of the Company's financial statements. The Company thanks Patrick for his contributions and wishes him the best in his future endeavors.

"Over his tenure, Patrick played a key role in the transformation of Agria's financial reporting from a relatively low key seed company to a notable global agriculture company, overseeing and implementing various key changes to our accounting policies and practices consistent with a global agriculture company. I thank Patrick for his good work and contributions to Agria, and wish him well in his future endeavours," said Alan Lai, the Company's Executive Chairman.

The Company also announced that Mr. Wah Kwong ("WK") Tsang, the current Chairman of the Company's Audit Committee and Compensation Committee, will be reappointed in place of Patrick to the PGW Board effective November 15, 2014. WK had previously served as a non-executive Director and member of Audit Committee of PGW Board, from 2011 to 2012.

The Company also announced that it welcomes the appointment of Mr. John Fulton as the Chief Financial Officer of the Group. Mr. Fulton will assume his office effective January 12, 2015.

Mr. Lai commented, "We are very delighted to have John joining us as we embark on our new phase of our journey to globalize Agria and our people, know-how and our technologies. John brings along with him vast experience in finance management, capital raising, treasury and strong skill sets in M&As. We look forward to him playing a key role as a member of Agria's global management team."

Mr. Fulton is a New Zealander and since leaving for the UK in 1999 has gained significant treasury and finance experience with a number of international companies including ICI as Treasury Manager, Coca-Cola HBC as Group Treasurer based in London/Athens and Cadbury Schweppes where he was the Group Treasury Director based in London. In 2006 he relocated to Houston Texas where he held various roles including Chief Financial Officer of Ashmore Energy International, which acquired the global emerging market energy assets from the bankruptcy estate of Enron. From 2006 to 2011 the company more than doubled in size before being broken up with the majority of assets disposed. In 2011 Fulton went onto establish a private consulting company advising infrastructure funds during the early stages of acquisition with projects undertaken in Turkey and Mexico. Fulton has a B.Bus from Auckland University of Technology, he is also has memberships with the Institute of Financial Professionals NZ and the NZ Institute of Chartered Accountants. He has studied at IMD, Lausanne with Coca-Cola HBC under a 12-month advanced senior management-training program.

AGRIA CORPORATION

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the years ended June 30, 2013 and June 30, 2014

Management Discussion and Analysis

Revenue

Our revenue increased by 9% from $940.2 million in the year ended June 30, 2013 to $1,023.6 million in the year ended June 30, 2014.

Seed and grain revenue increased by 3% from $375.1 million in fiscal year 2013 to $385.0 million in fiscal year 2014, primarily due to increase in grain sales and seeds revenue from New Zealand. Favorable trading conditions in New Zealand resulted in a greater volume sold of proprietary grasses, maize, and CleancropTM Brassica system. In Australia, a higher volume of proprietary products was sold.

Crop protection, nutrients and merchandise revenue increased by 14% from $357.3 million in fiscal year 2013 to $406.3 million in fiscal year 2014, primarily due to improved performance resulted from initiatives to develop better technical expertise and customer service skills within sale force, combined with enhancements to logistics systems. Strong sales growth also reflected higher confidence in the dairy sector, increased investment by farmers in fruit production, and market share growth in key value-added categories related to agronomy inputs, in particular agricultural chemicals and fertilizers.

Rural services revenue increased by 12% from $207.8 million in fiscal year 2013 to $232.3 million in fiscal year 2014, primarily due to revenue from Irrigation and Pumping increased by 44%, Wool increased by 31% and Real Estate increased by 27%. For Irrigation and Pumping business, we expanded our presence across all of New Zealand via the acquisition of a complementary irrigation and pumping business. Results were also enhanced by strong demand created by wind damage experienced by many clients in New Zealand’s Canterbury region. For Wool business, higher revenue was driven by strong growth in export sales and higher wool price. For Real Estate business, it experienced an exceptionally good year, due mainly to successful transactions for a number of large farms and a farm portfolio. Activity was driven by strength in the dairy sector. The drop of revenue from Livestock was offset by the growth of the three businesses mentioned above.

Profit/(Loss) Attributable to Equity Holders of the Company

As a result of the foregoing factors, profit attributable to equity holders of the Company was $5.9 million fiscal year 2014 and loss attributable to equity holders of the Company was $137.2 million for fiscal year 2013.

Mr. Alan Lai, Executive Chairman of Agria and presiding Chairman of the PGW Board, announced that a clear and aspirational business strategy was articulated and approved by the PGW Board. "We look forward to seeing the implementation of this plan in the current financial year and beyond. The Board is confident that the strategy has the business focused on the right areas and believes that it will achieve the right balance between operational execution, continuous improvement and growth."

Speaking to shareholders at the PGW Annual Shareholders Meeting in Napier today, PGW CEO Mark Dewdney commented, "While the reduction in the forecast dairy pay-out for the current season creates a significant degree of uncertainty the outlook for our core sheep, beef, arable, horticulture and viticulture markets is positive. Confidence in these sectors remain highly supported by solid prices, a lower NZ dollar, and, so far at least, generally good weather."

Mr. Dewdney continued, "Growth within these sectors, including in Australia and South America, will continue to be a major focus for the company and should offset some of the weakness expected in the dairy sector from falling milk prices."

"Spring and autumn are the two key periods for this business. So, while it remains too early to have high levels of certainty around how the year will play out, and noting the impact in dairy, I'm pleased to advise that based on a strong first quarter, current conditions and performance, we still believe we can increase our Operating EBITDA for the current year and better the NZ$58.7 million Operating EBITDA achieved in the fiscal year ended June 30, 2014," said Mr. Dewdney.

Mr. Dewdney elaborated, "As we worked through our strategic planning, three key themes emerged: Improving our business, growing our business and looking for game-changers that will allow us to meet our changing customer needs and stay ahead of our competitors."

Mr. Dewdney concluded, "Our core strengths in sheep, beef, arable, horticulture, viticulture, livestock and wool trading and agronomy will remain at the heart of our strategy. On top of these we see several areas where we have the ability to grow our business further."

¹ PGW's definition of Operating EBITDA: Earnings before net finance costs, income tax, depreciation, amortization, the results of discontinued operations, fair value adjustments, non-operating items and equity accounted earnings of associates.

BEIJING, CHINA--(Marketwired - Sep 17, 2014) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agricultural company, today announced that its PGG Wrightson subsidiary issued an advisory to farmers in the Southland region of New Zealand for more diligent supervision of dairy cows that graze on swede crops, following reports of illness and some deaths in the region.

PGG Wrightson Seeds issued a press release with recommendations for dairy farmers that may be experiencing issues, which can be found here.

Mr. Alan Lai, Executive Chairman of the Company, commented, "As a major seed supplier to the Southland region of New Zealand, we believe that the efforts of our PGG Wrightson team in working closely with farmers and other industry groups in the region to investigate the situation and develop potential solutions will support a timely and effective response to the issue. We believe that open communication between all parties will support a definitive conclusion and appropriate response."

BEIJING, CHINA--(Marketwired - Sep 11, 2014) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agricultural company, today announced its financial results for the fiscal year ended June 30, 2014.

Financial Highlights for the fiscal year ended June 30, 2014:

• Consolidated revenue was $1.0 billion for the fiscal year ended June 30, 2014, a 9% increase from $940.2 million for the fiscal year ended June 30, 2013. All business segments contributed to revenue growth, with strong performance in the Crop Protection, Nutrients and Merchandise segment and the Rural Services segment.
• Operating profit was $34.7 million, representing an increase of 62% from $21.4 million in fiscal 2013. Operating profit growth was mainly driven by increased gross profit.
• Net profit was $26.1 million, compared to net loss of $199.4 million in fiscal 2013. The turnaround was primarily due to the absence of material impairment charges in 2014, as compared to the one-time goodwill impairment charge of $140.8 million and the provision for impairment of land use rights and non-current prepayments of $57.0 million made in 2013.
• Net profit attributable to shareholders was $5.9 million, compared to net loss attributable to shareholders of $137.2 million in fiscal 2013.
• As of June 30, 2014, cash and cash equivalents were $14.0 million. Total debt was $118.0 million, representing a decrease of 30% since June 30, 2013.

Mr. Alan Lai, Agria's Executive Chairman, commented, "We continue to pursue our vision of establishing Agria as a major global agricultural leader. Our leadership positions in key product categories in Asia-Pacific and South America are the foundation for future growth, as we continue to focus on our global integration and strategies. Our improved results this year indicate the strength of this foundation. Solid revenue growth and improved profitability are signals that our products meet the needs of farmers and ranchers within our current footprint. We are confident that we can realize global synergies as we expand into new growing regions around the world."

Mr. Lai continued, "During the year we re-organized the business to focus on key product categories that we intend to offer globally over time. Each segment demonstrated revenue growth and greatly improved operating profit. Within each segment, we grew by focusing on better meeting customer needs, developing new value-added technologies, and nurturing a passionate and technically sound team with global vision and execution capabilities. These timeless business values define Agria and will be the basis of our success for years to come."

BEIJING, CHINA--(Marketwired - Sep 4, 2014) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agricultural company, today announced the resignation of an officer of its New Zealand-based subsidiary PGG Wrightson ("PGW"). PGW Chief Financial Officer, Rob Woodgate will leave the subsidiary in November to pursue new opportunities, after assisting in the transition to a new CFO.

Mr. Patrick Tsang remains Chief Financial Officer of Agria Corporation.

Mr. Alan Lai, Executive Chairman of the Company, commented, "PGW group is financially strong and is an important foundation in Agria's global growth strategy. We thank Rob for his services to PGW and wish him all the best in his future endeavors."

BEIJING, CHINA--(Marketwired - Jun 19, 2014) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a global agricultural company, today announced interim trading results and updated guidance at its majority-owned subsidiary PGG Wrightson Ltd. ("PGW"). The Company noted that despite localized challenges, sales performance over the past six months met expectations. PGW now expects full fiscal year operating EBITDA (earnings before interest, tax, depreciation and amortisation) in the range of NZ$56 to NZ$58 million (US$48 to US$50 million), up from the previously guidance range of NZ$52 to NZ$56 million (US$45 to US$48 million) indicated in February this year.

BEIJING--(Marketwired - May 16, 2013) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that Shenzhen NKY Seeds Co., Limited, a wholly-owned subsidiary of Agria, focused on edible corn seed business development has renewed its ten-year co-operation agreement with the Beijing Academy of Agriculture and Forestry Sciences ("BAAFS") to co-operate in the cultivation, demonstration, promotion and commercialization of new strains of edible corn seeds. Agria signed its first five-year co-operation agreement with BAAFS in 2008. Under this renewal agreement, BAAFS will continue to provide technology and research support for Agria in developing and breeding new strains of edible corn seeds through the year 2022.

Mr. Alan Lai, Agria's Executive Chairman of the Board, commented, "We are pleased to extend our cooperation with BAAFS. This cooperation befits our strategy in building on our modern agriculture capacity and is consistent with the national modern agriculture development policy promulgated by the Chinese government. By leveraging BAAFS's research and development capabilities, we are able to provide advanced edible corn seed production to our customers as well as advance our development of new corn seed strains. Working with BAAFS allows Agria to effectively commercialize new seed varieties further complementing our growth strategy [in China]. With strong R&D capabilities, growing sales and a strong distribution network, we look forward to broadening our leadership position in the corn seed market."

BEIJING--(Marketwired - May 14, 2013) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that its New Zealand-listed subsidiary, PGG Wrightson Limited (NZX: PGW) ("PGW"), has provided an earnings guidance update.

Earnings before interest, tax and depreciation ("EBITDA") for the financial year ending June 30, 2013 is forecast to be in the range of NZ$48 - NZ$40 million compared with NZ$55 million in for the corresponding period last year.

The three main factors contributing to the change in EBITDA have been climatic conditions across Australia and New Zealand, lower livestock values and when compared to the last financial year, less earnings from Agri-feeds post disposal to the 4Seasons Feeds Limited joint venture.

Mr. Alan Lai, Agria's Executive Chairman of the Board, commented, "We note that PGW will record somewhat lower EBITDA this year, but we believe this is only a temporary setback due to weather and other conditions outside of our control. We remain optimistic about the long-term outlook for PGW and Agria. We are committed and focused on building a durable franchise and institution that can thrive in strong climatic and weather conditions, but can limit the downside in adverse conditions as we continue to build our business in different geographies around the globe. We expect to both grow quickly and reduce the volatility in our results."

PGW Managing Director, Mr. George Gould, said climatic extremes in Australia with two record wet years followed by record-breaking high temperatures this year have frustrated the company's efforts to build earnings. Consequently, the Australian seed business, whilst important to the group strategically, is not forecast to contribute significantly to earnings this year.

Climatic conditions in New Zealand have also been a factor with the whole of the North Island and much of the South Island in one of the most extensive droughts on record.

Mr. Gould cited that the New Zealand drought has impacted its farmer clients' spending power and impacted livestock prices. The company said that livestock values have been in decline since the beginning of the current financial year, first in sheep and later on with beef, deer and dairy. While volumes and market share remain solid, prices have declined approximately 30% compared with last year, which is expected to have a material impact on PGW earnings for the financial year ending June 30, 2013. 

BEIJING--(Marketwired - Apr 26, 2013) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that it has regained compliance with the minimum share price criteria required by the New York Stock Exchange ("NYSE") for continued listing of the Company's American depositary shares.

As previously disclosed, the Company received a notice from the NYSE on July 17, 2012 that the Company was not in compliance with the NYSE continued listing standard requiring a listed security to maintain a minimum average closing price of US$1.00 per share over a consecutive 30-trading-day period. The NYSE noted that the minimum average closing price was the only listing criteria the Company was not in compliance with. On April 25 2013, the Company received confirmation from the NYSE that it had regained compliance with continued listing standards after its average closing ADS price for the 30 trading days ended April 24, 2013 exceeded US$1.00.

Mr. Alan Lai, Agria's Executive Chairman of the Board, commented, "We are happy to announce that Agria has regained compliance with the NYSE's continued listing standards and appreciate the assistance that we have received from the NYSE staff in reaching this goal."

BEIJING--(Marketwire - Nov 2, 2012) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), an agricultural company with operations in China and internationally, today announced that it has reached agreement with New Zealand bank, a senior creditor, that paves way for Agria to repay a junior subordinated NZ$10.0 million (RMB51.8 million, US$8.2 million) loan granted by a strategic partner, Livestock Improvement Corp. ("LIC") to Agria. Under the arrangement with the New Zealand bank, the subordination arrangement was resolved, whereby, Agria will repay LIC an amount equal to not less than 50 percent of the loan extended by LIC on December 19, 2012, with an equivalent amount being paid to the senior creditor. The balance due to LIC will be paid in March 2014, a date after maturity of a new facility agreed to be provided by the New Zealand bank. The financing was originally part of Agria (Singapore) Pte Ltd.'s (Agria Singapore) previously announced partial takeover in 2011 of New Zealand-based PGG Wrightson, with the strategic view to enable LIC to participate in an opportunity for investment in the Agri-tech business of PGG Wrightson.

Alan Lai, Agria's Chairman of the Board, commented, "We appreciate the continued support of Livestock Improvement Corp. and all of our financial partners. We welcome LIC to participate in our Agri-tech strategy, whenever such opportunity arises. We have a shared vision for the long-term growth potential and high strategic value of PGG Wrightson, which Agria is fully committed to maintaining its majority ownership stake in."

Mr. Lai further commented, "Agria's investment and strategy with PGG Wrightson's investment is a long-term strategy. There is no intention to sell down any of our investment in PGG Wrightson in the foreseeable future. We are determined and committed to bring out the best both PGG Wrightson and Agria have to offer for the benefit of all shareholders, in all major strategic markets where we are well positioned, namely, New Zealand, South America and Greater China."

2012 Full Year Results

• Consolidated revenues increased from RMB29.0 million in the year ended December 31, 2010 to RMB6.9 billion ($1.1 billion) in the year ended June 30, 2012.
• The Company reported a net loss attributable to shareholders of RMB16.0 million ($2.5 million) in the year ended June 30, 2012 compared to a net loss attributable to shareholders of RMB59.2 million in the year ended December 31, 2010.
• Loss per share per ADS for 2012 was $0.02

Alan Lai, Agria's Chairman of the Board, commented, "Our audited results represent another major milestone for the Company and punctuate a very active year. We are benefitting from our strategic investments in PGG Wrightson and in our China seeds business. We currently anticipate further improvements in these important businesses with both revenue and profit growth in fiscal year 2013."

BEIJING--(Marketwire - Jul 19, 2012) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a China-based agricultural company with operations in seeds in China and internationally and in agri-services, today announced that the Company was notified by the New York Stock Exchange ("NYSE") that the Company is not in compliance with the NYSE continued listing standard requiring a listed security to maintain a minimum average closing price of $1.00 per share over a consecutive 30-trading-day period. The NYSE noted that the minimum average closing price is the only listing criteria the Company is not in compliance with. The Company has six months from receipt of the notification to bring its ADS price and average ADS price back above $1.00.

BEIJING--(Marketwire - Feb 21, 2012) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a China-based agricultural company with operations in seeds in China and internationally and in agri-services, announced that its New Zealand listed subsidiary, PGG Wrightson Limited (NZSE: PGW), further improved its operating performance, reporting a 55% increase in earnings before interest, tax and depreciation (EBITDA) for the six months to 31 December 2011 of NZ$22.0 million compared to NZ$14.2 million in December 2010. Revenue for the six months to 31 December 2011 was NZ$693.8 million compared with NZ$616.9 million for the six months ended 31 December 2010. Results are for the first six months of PGG Wrightson's fiscal year.

Mr. Xie Tao, Agria Corporation's Chief Executive Officer, said, "The impressive improvement in profitability underscores the strength of the company's business, management's execution, and our continued optimistic business outlook. It should also be noted that the second half of the fiscal year is typically stronger, normally accounting for almost two-thirds of the AgriTech operation's full year earnings."

George Gould, PGG Wrightson's Managing Director, said that PGG Wrightson's improved operating results were led by increased profitability in its livestock, retail and real estate operations. The Company's AgriTech operations, which include seeds, grain and nutrition, remained relatively stable with last year.

"Overall, PGG Wrightson's operating profitability has improved as the Company successfully executes its business strategy of offering high quality service and products to its farmer clients throughout New Zealand, Australia and South America."

Mr. Gould further noted that PGG Wrightson's improved financial position reflects the sale of its finance company and that it would now benefit from lower debt servicing costs.

Net profit after tax (NPAT) was NZ$3.1 million, compared with a loss of NZ$5.9 million for the equivalent period last year.

BEIJING--(Marketwire - Nov 8, 2011) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a China-based company with investments in the agriculture sector, today announced it has received the first phase of a grant to help fund Sino-New Zealand joint research into high technology content grass seeds for the China market. This stage grant is for RMB6 million ($0.9 million) and has been made by the Science and Technology division of the Beijing Government.

The grant will be used to fund joint research and development into the adaptation of six grass seed varieties that were originally developed in conjunction with Agria's subsidiary PGG Wrightson with a view to the seed varieties' application in China.

The R&D project also intends to develop GAP (Good Agricultural Practice) in the development of grass seed technology by following the high standards set in New Zealand.

Agria's VP Charles Jiang said: "China has 390 million hectares of natural grassland but much of this is of very low productivity. By working jointly with our and our partners' scientists in China, those in New Zealand and our subsidiary PGG Wrightson, we aim to develop high technology content grasses to allow for the increase of productivity of this grass land. This is the latest success of Agria's strategy of working with leading government science departments in China to secure a pipeline of next generation seed technologies for future commercialization. It will also serve to strengthen the PGW brand in China."

BEIJING--(Marketwire - Sep 21, 2011) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a China-based company with investments in the agriculture sector, today announced it has appointed John Layburn as Chief Financial Officer and Jerry Mao as Financial Controller. Both appointments are effective today.

John Layburn has served as Agria's Acting CFO since April 2011 and as Chief Strategy and Compliance Officer since October 2009. Since joining the Company, he has led the implementation of Agria's turnaround strategy, including its divestment of P3A and making our overseas investments resulting in the ownership by Agria of a controlling stake in PGW, New Zealand's leading agricultural services company. He has also led our compliance team resulting in Agria becoming and remaining fully compliant with our reporting obligations.

 Class action lawsuits

    On February 3, 2009, a consolidated class action lawsuit in the United States District Court for the Southern District of New York was filed, alleging violations of various sections of the Securities Act, against the Group, our executive officers, our directors and other defendants. The lawsuit alleges that our initial public offering registration statement and prospectus failed to disclose certain alleged discussions between two Agria executives relating to requests for additional compensation and a threatened resignation.

    On December 1, 2009, the U.S. District Court for the Southern District of New York dismissed the consolidated class action against the Company and the underwriters defendants, and the Court issued a judgment in favor of the Company and the underwriter defendants.

    On June 4, 2010, the Group entered into a memorandum of understanding with the lead plaintiff reflecting an agreement in principle and agreed to pay $3.75 million to settle all claims asserted in the class action lawsuit. On September 20, 2010, the court granted a preliminary approval of the settlement. The deadline for filing objections to the Settlement, Plan of Distribution of settlement proceeds, and attorneys’ fee and expense request by Lead Plaintiff’s counsel expired on January 7, 2011, and no such objections were filed by Class Members.

    On June 7, 2011, the court granted final approval of the settlement and entered a final judgment resolving the case. The settlement amount is within the limit of our applicable insurance policies, and the settlement is not expected to have any significant impact on our financial position, results of operation or cash flows

Agria has been unable to complete its 2008 20-F within the prescribed time because of delays in completing the preparation of its annual financial statements. The delays have been caused by two investigations conducted at the direction of the Audit Committee which are currently underway and a delay in the independent valuation of the Company’s biological assets, including sheep and date trees, that is being conducted by an independent valuation firm.

Source: SEC Form 6K (June 25, 2009)

Alan Lai, Agria's chairman and chief executive officer, commented, "We expect Agria's operating environment will remain difficult for the foreseeable future. We will be evaluating implications on our business and strategy as part of the company's recent senior management changes. Given the above, Agria is withdrawing its prior forecast for the fourth quarter of 2008, as provided in the company's press release on November 11, 2008. We plan to hold a conference call as soon as possible to update investors on the results of our evaluation."

Source: Marketwire (December 10, 2008)