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CHINA GREEN AGRICULTURE, INC.

(CGA)
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CHINA GREEN AGRICULTURE, INC. : Change in Directors or Principal Officers (form 8-K)

04/08/2021 | 05:02pm EDT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) On April 8, 2021, the Board, upon the recommendation of its Nominating Committee, appointed Mr. Shiyu Zhang to serve in the class of directors on the Board of China Green Agriculture, Inc. (the "Company"). Mr. Zhang will serve on the Nominating Committee, Audit Committee, and Compensation Committee of the Company's Board.

Mr. Zhang is a seasoned developer and entrepreneur in the blockchain industry. He had worked at Lino, a startup company that created dlive.tv, a blockchain-powered live streaming platform with 9.6 million monthly active users. In Lino, Mr. Zhang led a team in designing and developing state-of-art blockchain systems. Lino raised over $20 million early investments from established investors including ZhenFund and first-tier crypto venture funds. dlive.tv was acquired by BitTorrent in December 2019. Mr. Zhang holds a Bachelor of Arts degree in mathematics with minor in computer science from New York University.

The Board has determined that Mr. Zhang meets the independence standards adopted by the Board in compliance with the New York Stock Exchange corporate governance listing standards and Item 407(a) of Regulation S-K.

Mr. Zhang has (i) no arrangements or understandings with any other person pursuant to which he was appointed to as a director, and (ii) no family relationship with any director or executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer.

Mr. Zhang has had (i) no direct or indirect material interest in any transaction or series of similar transactions contemplated by Item 404(a) of Regulation S-K and, (ii) as of the date of this Current Report on Form 8-K, Mr. Zhang holds no direct or indirect beneficial ownership in the Company's stock or rights to acquire the Company's stock.

Mr. Zhang will receive standard compensations with a portion of which will be pro-rated to reflect the actual time Mr. Zhang will serve on the Company's Board this year, paid by the Company to all of its non-employee directors. In connection with his appointment, the Company provided standard indemnification to Mr. Zhang pursuant to the indemnification clauses in Articles of Incorporation of the Company, which is attached as Exhibit 3.1 to the Company's Report on Form 10QSB filed with the SEC on November 09, 2007 and is incorporated by reference herein.

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Financials (USD)
Sales 2020 249 M - -
Net income 2020 -137 M - -
Net cash 2020 7,41 M - -
P/E ratio 2020 -0,12x
Yield 2020 -
Capitalization 110 M 110 M -
EV / Sales 2019 -0,13x
EV / Sales 2020 0,04x
Nbr of Employees -
Free-Float -
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