In May 2008, the Company signed a one-year contract with a subsidiary of Holiland Enterprise Investment Management Co., Ltd. ("Holiland") to supply probiotics for Holiland's bakery products. Holiland is China-Biotics' third bulk additive customer, following previously announced agreements with Bright Dairy & Food Co., Ltd. and Shanghai Relax Xinqiao Food Co., Ltd.
On May 28, 2008, the Company's Board of Directors established three Board committees: the Audit Committee, the Nominating Committee and the Compensation Committee. Dr. Ji Wei Chin, Dr. Wen Min Du and Mr. Simon Yick were appointed as the initial members of the Audit Committee. Mr. Song Jinan, Dr. Chin and Dr. Du were appointed as the initial members of the Nominating Committee. Dr. Chin, Dr. Du and Mr. Yick were appointed as the initial members of the Compensation Committee. The chairmen of the Audit, Nominating and Compensation Committees are Mr. Yick, Mr. Song and Dr. Du, respectively.
In June 2008, China-Biotics announced a supply contract with Jiangxi Lijia Pharmaceutical Co., Ltd., the Company's fourth bulk additives customer. Lijia will use a combination of two Shining Probiotics, Bifidobacterium adolescentis and Bifidobacterium infantis, as additives in its newly developed dietary supplement powders and tablets. These probiotics will help to reduce the symptoms of lactose intolerance, to improve gastrointestinal tract health and to boost immune system health. The agreement runs through May 2009.
The company will host a conference call at 9:00 a.m. EDT on, Friday,
July 11, 2008, to discuss its financial results for the fourth quarter and
fiscal year ended March 31, 2008. To participate in the event by telephone,
please dial (888) 241-0558 five to 10 minutes prior to the start time (to
allow time for registration) and reference passcode 52029883. Internationa
|SOURCE China-Biotics, Inc.|
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