AgriNurture, Inc. will be conducting a P283.76 million stock rights offering (SRO) in a bid to raise capital for the expansion of its agricultural businesses.
In a disclosure to the stock exchange on Monday, Feb. 19, AgriNurture said its board of directors approved last Feb. 17 the company’s plan to conduct the SRO, comprising 283.76 million shares at a value of P1 apiece.
Each existing shareholder of 2.5 shares will be entitled to one stock rights share from the offering.
“The Rights Issue is intended to provide additional working capital to support the growth and strategic initiatives of the Corporation’s core businesses. Management shall finalize the specific allocation of the proceeds for review and approval of the board,” AgriNurture said. — Arra B. Francia
The much awaited town hall meeting was held last October 7-8, 2014. This is the second meeting since CEO Pablo “Bing” Capati joined the company in January this year. It is where the employees are updated about the state of the business as well voice out their thoughts. The town hall meeting was held in three sessions. Two in Makati Head office and one in Pulilan, Bulacan. A total of 203 organic employees attended.
Mr. Larry Lacson, the Vice President for Corporate Affairs gave a warm welcome and a recap of the previous town hall meeting held in January 2014.
Export GM and AVP Ms. Liza Guinto started the session with the review and progress of the Vision of the company, to be “A Global leader in providing nourishment from farm to plate”, and the company’s core values, “Integrity, Teamwork, and Care for People”. The discussion was made lively by Ms. Guinto by soliciting actual daily experiences from the employees whether good or bad.
There was also a review of accomplishments in terms of benefits for the employees as part of the company’s “Care for People” core value. Among many are HMO coverage for the employee and one dependent, increase in vacation leave, and bereavement assistance.
CFO Romeo Bato presented the company’s financial highlights. He explained the sales of both local and foreign operations by presenting the actual income statement of 2013 and comparing it to the 2014 estimates. The data showed a very good performance in the second quarter. Mr. Bato pointed out that if the company continues to perform well, it will be able to achieve its goals at the end of the year.
The CEO, Mr. Pablo “Bing” Capati reviewed the last town hall meeting and opened the floor for questions and concerns. Most of the questions that were brought up focused on the company’s efforts, possible transfer of office, day to day store concerns, retirement plans, information dissemination, personnel movements and press releases.
The CEO, together with the rest of the Mancom members comprising of Mr. Romeo Bato, Mr. Larry Lacson, Ms. Liza Guinto, Mr. Rusty Lemon, Mr. Phil Oakden, Mr. Andy Tan, and Atty. Lisette Arboleda confidently and satisfactorily answered all questions and addressed all concerns.
Mr. Capati close the meeting with encouragement that ANI can easily achieve its goals and that all challenges will be surpassed with openness from the top management down to the employees.
Asia Fruit Logistica is one of the most prestigious trade exhibition in the world when it comes to fresh produce. This year it was held in Hong Kong SAR on September 3-5, 2014 where AgriNurture, Inc. participated. The ANI team again had a very successful participation by meeting 66 possible buyers from all over the world inquiring about ANI products. The most popular products in the ANI line up during the trade exhibition are fresh banana, fresh pineapple, and coconut juice.
According to Liza Guinto, the ANI Export Manager, they were able to meet also the existing buyers as well as prospective suppliers. It looks like another banner year for the ANI export team.
This will be on Sept. 5 to 8, 2013 at the World Trade Center , Manila, Philippines. AgriNurture will be showcasing its retail brands Big Chill and Tully’s Coffee (under a master license agreement with Tully’s Coffee International PTE LTD). Visit us at Booth #314.
ANI participated at the recently concluded Gulfood at the Dubai World Trade Centre and highlighted its fresh produce and coco products for export. As one of the biggest trade shows this year, Gulfood extended its show format to five days which provided more opportunities for visitors to connect with ANI. ANI’s latest product, La Natural CocoSplash 1 Liter Tetra, was launched during the trade fair.