Published: 11 October 2013

Seed Co is seeking shareholder approval to implement the proposed strategic technical-equity partnership with Vilmorin & Cle, a NYSE Euronext Paris Stock Exchange listed company which is a world leader in vegetable seeds and top player in field seeds.

Accompanied by its reference shareholder, Limagrain, an international agriculture co-operative group, Vilmorin & Cle is currently the fourth largest seed company in the world.

In order to consummate this proposed transaction, Seed Co would be looking to:

1. Issue for cash  up to 37,662,481 new ordinary shares to Vilmorin & Cle.
2. Enter into collaborative agreements with Vilmorin and Cle, including.

·         A research and collaboration agreement
·         A Germplasm exchange agreement
·         Technical assistance agreements
·         Technology licence agreements
·         Purchase agreements
·         Production/commercialisation agreement
·         Lease agreements

Allocate board seats to Vilmorin & Cle pro rata their shareholdings post the proposed placement i.e. 2 seats on conclusion of Tranche I and another seat on conclusion of Tranche II.
- businessdaily

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