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China In-Focus: China Agritech Reverse Splits 1-For-4

September 8, 2009 (FinancialWire) — Chinese fertilizer maker China Agritech, Inc. (OTCBB: CAGE) said it will implement a one-for-four reverse split of its common stock effective on September 8. As a result of the reverse split, the stock will begin trading under the symbol “CTEC” on the OTCBB, beginning on September 8.

Under the reverse split, each China Agritech shareholder of record as of September 8 will have one new common share for every four common shares previously held. The effect of the reverse split will be to reduce the number of shares of common stock outstanding to around seven million, from 28.2 million shares outstanding as of June 30.

In a statement, the company said it hopes meet the qualifying thresholds for a more senior trading exchange in the U.S., which it believes will increase the visibility and trading characteristics of its stock.

Beijing-based China Agritech is engaged in the development, manufacture and distribution of liquid and granular organic compound fertilizers and related products in China.

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