DUBAI, United Arab Emirates–(BUSINESS WIRE)–Amira Nature Foods Ltd (the “Company”) (NYSE: ANFI), a global provider
of packaged specialty rice, today announced the hiring of Brio Financial
Group as financial consultants to the Company, to replace the current
Chief Financial Officer Varun Sethi, whose last day with the company
will be 30 June 2019. The Company has hired Brio Financial Group in
connection with the Company’s effort to Westernize its corporate finance
and executive team while the Company focuses on the international growth
of its brands.
The Brio Financial Group has an extensive financial and consumer
industry background. The Company believes their many years of U.S.
public company accounting experience will assist it in Westernizing its
finance department, while it focuses on international growth. The Brio
Financial Group ,which will also support the Company’s ongoing financial
reporting, has nearly two decades of experience in assisting various
private and public companies in financial reporting, internal control
development and evaluation, budgeting and forecasting.
Varun Sethi, who has served as the Company’s Chief Financial Officer
since August 2017, has agreed to assist the Company in the orderly
transition of his CFO responsibilities. His departure is not based on
any disagreement with the company’s accounting principles, practices or
financial statement disclosures.
About Amira Nature Foods
Founded in 1915, Amira has evolved into a global provider of packaged
specialty rice, with sales in over 40 countries today. Amira sells
Basmati rice, premium long-grain rice grown only in certain regions of
the Indian sub-continent, under their flagship Amira brand as well as
under other third party brands. Amira sells its products primarily in
emerging markets through a broad distribution network. Amira’s
headquarters are in Dubai, United Arab Emirates, and it also has offices
in India, Germany, the United Kingdom, and the United States.
Cautionary Note on Forward-Looking Statements
This release contains forward-looking statements within the meaning of
the U.S. federal securities laws. These forward-looking statements
generally can be identified by phrases that we or our members of
management use such as “believe,” “expect,” “anticipate,” “foresee,”
“forecast,” “estimate” or other words or phrases of similar import.
Specifically, these statements include, among other things, statements
that describe our expectations for the global rice market, the financial
impact of new sales contracts on our revenue, our expectations regarding
the successful efforts of our distribution partners and other statements
of management’s beliefs, intentions or goals. It is uncertain whether
any of the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do, what impact they will have on
our results of operations, financial condition, or the price of our
ordinary shares. These forward-looking statements involve certain risks
and uncertainties that could cause actual results to differ materially
from those indicated in such forward-looking statements, including but
not limited to our ability to locate a suitable CFO replacement; perform
our agreements with customers; our ability to recognize revenue from our
contracts as planned; continued competitive pressures in the
marketplace; our reliance on a few customers and distribution partners
for a substantial part of our revenue; our ability to implement our
plans, forecasts and other expectations with respect to our business and
realize additional opportunities for growth; and the other risks and
important considerations contained and identified in our filings with
the Securities and Exchange Commission. All forward-looking statements
attributable to us or to persons acting on our behalf are expressly
qualified in their entirety by these risk factors. Other than as
required under the securities laws, we undertake no obligation to update
any forward-looking or other statements herein, whether as a result of
new information, future events or otherwise.
Contacts
Wendy Eguez
The Amira Group
+447340071854
[email protected]
