UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of November 2010
Commission File Number: 001-34754
China New Borun Corporation
(Translation of Registrant’s name into English)
Bohai Industrial Park
Yangkou Town
Shouguang, Shandong
People’s Republic of China 262715
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
S Form 20-F £ Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): £
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): £
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
£ Yes S No
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a
Departure of Directors
On November 4, 2010, Ruiping Wang resigned as a member of the board of directors of China New Borun Corporation (the “Company”) effective on such date. Mr. Wang’s resignation was due to personal reasons and did not arise from any disagreement with or any matter relating to the Company’s operations, policies or practices.
On November 6, 2010, Yibin Wei resigned as a member of the board of directors of the Company effective on such date. Mr. Wei’s resignation was due to personal reasons and did not arise from any disagreement with or any matter relating to the Company’s operations, policies or practices.
On November 6, 2010, Hengxiu Song and Rongjian Wang resigned as members of the board of directors of the Company effective on such date. Hengxiu Song and Rongjian Wang resigned in order that a majority of the members of the board of directors may be independent. Hengxiu Song and Rongjian Wang will continue to serve as the Chief Operations Officer and the Financial Controller of the Company, respectively.
Following the resignations discussed above, the Company’s board of directors reduced the size of the board from nine members to five members.
The information in this Report shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. It shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Exhibits
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Exhibit No. |
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Description |
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99.1 |
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Press release, dated November 9, 2010 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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China New Borun Corporation |
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By: |
/s/ Bing Yu |
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Name: |
Bing Yu |
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Title: |
Chief Financial Officer |
Date: November 9, 2010
Exhibit 99.1
China New Borun Reports Board Changes
Beijing, China, November 9, 2010 — China New Borun Corporation (NYSE: BORN; “Borun” or the “Company”), a leading producer and distributor of corn-based edible alcohol in China, today announced that two of its non-executive board members resigned from their positions as directors of the Company. Additionally, in order for the Company to maintain a majority of independent directors, two executive board members resigned from their positions as directors but remained in their same executive positions with the Company.
On November 4, 2010, Ruiping Wang resigned as a member of the board of directors of the Company effective on such date. On November 6, 2010, Yibin Wei resigned as a member of the board of directors of the Company effective on such date. Both Mr. Wang and Ms. Wei’s resignations were due to personal reasons and did not arise from any disagreement with or any matter relating to the Company’s operations, policies or practices.
On November 6, 2010, Hengxiu Song and Rongjian Wang resigned as members of the board of directors of the Company effective on such date. Hengxiu Song and Rongjian Wang will continue to serve as the Chief Operations Officer and the Financial Controller of the Company, respectively.
The Company is not required by the NYSE to maintain a majority of independent directors on the board, however Messrs. Song and Wang chose to resign their board seats, as the Company views the maintenance of a majority of independent directors as key to effecting good corporate governance.
About China New Borun Corporation
China New Borun Corporation is a leading producer and distributor of corn-based edible alcohol in China. Borun’s edible alcohol products are primarily sold as an ingredient to producers of baijiu, a popular grain-based alcoholic beverage that is sold throughout China in retail stores, restaurants and bars. The Company also produces DDGS Feed, corn germ and liquid carbon dioxide as by-products during the alcohol production process. China New Borun is based in Shouguang, Shandong Province. For more information about the company, please visit http://ir.chinanewborun.com.
ICR, Inc.
In China:
Michael Tieu
Tel: +86-10-6583-7509
Email: michael.tieu@icrinc.com
In the U.S.:
Bill Zima
Tel: +1-203-682-8200
Email: bill.zima@icrinc.com