Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Bermuda with limited liability)

(Stock Code: 1131)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of Agritrade Resources Limited (the "Company", together with its subsidiaries, the "Group") announces that with effect from 12 December 2017, Mr. Phen Chun Shing Vincent ("Mr. Phen") has been appointed as the independent non-executive Director. The biographical details of Mr. Phen are set out as follows.

Mr. Phen, aged 40, holds a bachelor degree in business administration from the University of North Texas. Mr. Phen is currently an executive director of China Partytime Culture Holdings Limited and an executive director of Taung Gold International Limited ("Taung Gold"), both companies are listed on the mainboard of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Prior to the re-designation of Mr. Phen as the executive director of Taung Gold in May 2017, he has been the non-executive director of Taung Gold since July 2015. Mr. Phen was also the non-executive director of EPI (Holdings) Limited, a company listed on the mainboard of the Stock Exchange, from February 2016 to October 2016.

Mr. Phen has over 15 years of experience in direct investment and corporate banking. He was an executive director of China Merchants Capital Management (International) Limited from 2012 to 2015, a non-executive director of Comtec Solar Systems Group Limited, a company listed on the mainboard of the Stock Exchange, from 2010 to 2012 and a director of CMS Capital (HK) Co., Limited (formerly known as CMTF Asset Management Limited) from 2009 to 2012. Mr. Phen also worked for CLSA Capital Partners from 2007 to 2009 and has worked in the international corporate banking divisions of various financial institutions for seven years.

Mr. Phen has entered into a service contract with the Company and his appointment is for a fixed term of one year with an option to renew and it can be early terminated by giving not less than one month's notice in writing served by either Mr. Phen or the Company. His appointment is also subject to retirement by rotation and re-election in accordance with the bye-laws of the Company and that he shall hold office until the forthcoming annual general meeting and shall then be eligible for re-election at the annual general meeting. Mr. Phen is entitled to receive a director's remuneration of HK$120,000 per annum (pro-rata adjusted for any service period shorter than a full year) as covered by his service contract, which has been reviewed and approved by the remuneration committee of the Company with reference to his qualifications, experience, level of responsibilities undertaken and prevailing market conditions. The remuneration of Mr. Phen will be reviewed annually by the Board with reference to his duties and responsibilities with the Company, the Company's performance and the prevailing market situation.

As at the date of this announcement, save as disclosed above, Mr. Phen did not have any other directorships in the last three years in public companies, the securities of which are listed on any securities market in Hong Kong or overseas or any other position with the Company and other members of the Group or other major appointments and professional qualifications.

As at the date of this announcement, Mr. Phen does not have any relationship with any Directors, senior management, substantial shareholders or controlling shareholder of the Company (within the meaning of the Rules (the "Listing Rules") Governing the Listing of Securities on the Stock Exchange) and does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, Mr. Phen has confirmed that there are no other matters that need to be brought to the attention of the shareholders of the Company regarding his appointment and there is no other information that needs to be disclosed pursuant to any of the requirements of Rule 13.51(2)(h) to (v) of the Listing Rules relating to the appointment of Mr. Phen.

The Board would like to express its warmest welcome to Mr. Phen on his appointment.

By order of the Board

Agritrade Resources Limited

Ng Xinwei

Chief Executive Officer

Hong Kong, 12 December 2017

As at the date of this announcement, the Board comprises Mr. Ng Say Pek (Chairman), Mr. Ng Xinwei, Ms. Lim Beng Kim, Lulu and Mr. Ashok Kumar Sahoo as executive Directors and Mr. Chong Lee Chang, Mr. Siu Kin Wai, Mr. Terence Chang Xiang Wen, Mr. Cheng Yu and Mr. Phen Chun Shing Vincent as independent non-executive Directors.

Agritrade Resources Ltd. published this content on 12 December 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 December 2017 10:23:09 UTC.

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