Agritrade Resources : Announcements and Notices - Voluntary Announcement in Relation to Media Reports

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)

It has come to the attention of the board of directors (the "Board") of Agritrade Resources Limited (the "Company", and together with its subsidiaries, the "Group") that there are recent Indonesian media reports on the internet (the "Media Reports") regarding the on-going investigation of Mr. Jing Yu ("Mr. Yu") by the National Police of the Republic of Indonesia. The Media Reports referred to Mr. Yu as the President Director of PT Merge Energy Sources Development ("MESD"), an indirect subsidiary of the Company.

The majority of the contents of the Media Reports were written in Indonesian, and appears to be circulated predominantly in the Republic of Indonesia. The Group is unable to comment on the accuracy and reliability of the contents of the Media Reports.

The Board wishes to inform the shareholders and potential investors of the Company with regard to Mr. Yu's current inactive status with respect to the Group's business. In particular, the Board wishes to clarify that although Mr. Yu remains the owner and controller of Sino Island Limited, the company which owns an equity interest in the Company's indirect subsidiary, Merge Mining Holding Limited ("MMHL"):

1. Mr. Yu has not reported to work for the past 12 months as a director or otherwise, at MMHL and its five subsidiaries, including MESD.

2. Mr. Yu has since 10 November 2017 been temporarily dismissed from his position as President Director of MESD.

3. The Company, through MMHL, maintains full control over the operation of the underground coal mine in South Kalimantan, Indonesia (the "Mine").

The Group cannot predict whether the Media Reports will be further circulated and / or translated into other languages which may potentially reach a larger readership, but the Group does not expect the Media Reports to have a material impact on the operation of the Mine and its mining business in general. The Board will monitor the situation and make further announcements as and when necessary.

Hong Kong, 29 November 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 and Mr. Cheng Yu as independent non-executive Directors.