Asian Citrus : REVIEW REQUEST OF THE LISTING COMMITTEE DECISION ON CANCELLATION OF LISTING

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.

ASIAN CITRUS HOLDINGS LIMITED

亞 洲 果 業 控 股 有 限 公 司*

(Incorporated in Bermuda with limited liability)

(Stock Code: 73)

REVIEW REQUEST OF THE LISTING

COMMITTEE DECISION ON CANCELLATION

OF LISTING

This announcement ("Announcement") is made by Asian Citrus Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

References are made to (i) the announcements dated 1 August 2018, 1 November 2018, 1 February 2019, 2 May 2019 and 2 August 2019 published by the Company in compliance with Rule 13.24A of the Listing Rules; (ii) the announcements of the Company dated 27 January 2017 and 6 September 2018 in relation to, among others, the conditions for resumption of trading in the shares of the Company (the "Shares") imposed on the Company by the Stock Exchange; (iii) the announcement of the Company dated 27 July 2018 in relation to the amendments to the delisting framework under the Listing Rules; and (iv) the announcement of the Company dated 16 September 2019 in relation to the decision of the Listing Committee of the Stock Exchange (the "Listing Committee") to cancel the Company's listing under Rule 6.01A of the Listing Rules (the "LC Decision").

SUBMISSION OF REQUEST FOR WRITTEN REASONS

The board of directors (the "Board") of the Company wishes to announce that, on 17 September 2019, the Company submitted a written request to the Listing Committee to provide written reasons for the LC Decision (the "Written Reasons"). On the same date, the Company has received a letter from the Stock Exchange providing the Written Reasons.

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SUBMISSION OF REVIEW REQUEST

The Board wishes to further announce that, after seeking professional advices, on 26 September 2019, the Company has submitted a written request to the Secretary of the Listing Review Committee requesting the LC Decision be referred to the Listing Review Committee for review pursuant to Chapter 2B of the Listing Rules (the "LRC Review"). The Company received a letter from the Head of Listing of the Stock Exchange on the same date stating that they have accepted the Company's request for review, and will notify the Company the date of the review hearing in due course. Accordingly, the cancellation of the listing of the Shares on the Stock Exchange is pending the outcome of the LRC Review.

The Board hereby reminds the shareholders of the Company (the "Shareholders") and potential investors of the Company that the outcome of the LRC Review is uncertain.

The Company will continue to update the Shareholders and potential investors of the Company by publishing further announcement(s) as and when appropriate.

Shareholders who have any queries about the implications of the cancellation of listing of the Shares are advised to obtain appropriate professional advice. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the Shares.

By Order of the Board

Asian Citrus Holdings Limited

Ng Ong Nee

Chairman

Hong Kong, 26 September 2019

As at the date of this announcement, the Board of the Company comprises two executive directors, namely Mr. Ng Ong Nee (Chairman and Chief Executive Officer) and Mr. Ng Hoi Yue (Deputy Chief Executive Officer); a non-executive director, namely Mr. He Xiaohong; and three independent non-executive directors, namely Mr. Chung Koon Yan, Dr. Lui Ming Wah, PhD, SBS, JP and Mr. Yang Zhen Han.

• For identification purposes only

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