Monchhichi : Audited Results for the year ended 31 March 2017

20 September 2017

("Monchhichi" or "the Company")

Monchhichi announces its audited results for the year ended 31 March 2017, together with re- alignment of Board responsibilities in preparation for recruitment of additional executive and non- executive members of the team after completion of the proposed initial investment previously announced.

The accounts for the year ended 31 March 2017 will be posted to shareholders shortly and will be available on the Company's website at http://www.monchhichi.life/ later today.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

On 23 December 2016 the previous Directors stepped down from the Board and my fellow Directors and I were appointed. In the Strategic Report, we describe the bespoke Investment Policy that was adopted shortly following our appointment. The Directors are confident that based on their collective experience, knowledge, capabilities and determination a select number of complementary conviction investments can be made. We believe that over time this will lead to a complete transformation of both the Company's and our shareholders' fortunes.

I would like to point out that prior to our appointment as Directors, we were actively assessing two interesting and significant investment opportunities that required for us to be fully "battle-ready" during the first calendar half of 2017. This meant that Monchhichi should have had (i) a clean quoted Company (ii) a cohesive Board (iii) the appropriate capital framework and structure (iv) experienced international / sector advisors plus (v) no unwarranted speculation, rumours and or other potential distractions.

Despite early encouraging signals, it turned out that, after multiple diversions, we had spent an amount of both time and money which rendered a complete clean-out as the only way forward to secure the correct position for our shareholders. Looking back, we took the right decision and in an expedited fashion, the situation has now been cleaned up. In stark contrast, to the costs and write- offs of the past, the new Directors and initial cornerstone investor have to date already invested more than £3 million in the Company.

By Q1 2017, being the Company's fourth financial quarter, we had cleaned up the position and ensured that through a range of pro-active sequential actions Monchhichi could at last start to present itself as a credible investee partner.

We have now announced our intention to move from our current AIM listing to the Official List (by way of Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's main market for listed securities. This is a pre-emptive move to accommodate future conviction acquisitions as well as to enable major international institutional investors to participate in our development from an early stage.

As part of this process we are seeking shareholder approval for an extension of our Investment Policy to include the ability to acquire majority interests in investee companies and make investments in quoted companies.

Moreover, it is our expectation that during the coming year further complementary Board appointments shall be made, our reach into the main international institutional market will expand with the start of research coverage and we plan to introduce a pro-active and comprehensive investor communication program from our financial Q4 onwards.

There is a clear and concise plan to transform Monchhichi into a mainstream alternative player in the technology, media and internet space globally. With the impending closing of the first transaction and concurrent move to the Standard List of the Main Market the Board shall now pursue the recruitment

of a full time executive team. Their drive, determination and all out commitment combined with relevant experience shall be essential to ensure that we can deliver the right results for all our stakeholders in the future. As a first step in this transition, Jean Pascal Tranie has now returned to his previous role as Non-Executive Director (NED) such that he can positively challenge the future investment and acquisition plans. I now return to the role of Executive Chairman and expect to retain that position until such time that a full time Chief Executive Officer becomes fully operational.

In the near-term Felipe Wallace Simonsen will continue to be Finance Director although it is the Board's collective view that with the rapidly growing importance of this role including acting as the interface with the investment community a full-time Finance Director should ideally be based out of Europe.

Finally, it is the intention that two further highly qualified and internationally experienced NEDs are appointed during the next twelve months. The Company has recently formed an Audit Committee as well as a Remuneration Committee and the Board shall on a regular basis review that its composition, remit and prevailing corporate governance and other procedures adhere to the highest standards.

As mentioned in previous statements, Monchhichi's plan is to make a series of cohesive and meaningful Conviction Investments ("CI") and acquisitions that display a clear existing industry validation and growth trajectory in the Technology, Media and Internet sectors.

We are at the final stage of completing the first of such Conviction Investments and look forward to informing our shareholders in the very near term about the details of this exciting investment.

Investments are about quality rather than quantity. Being totally decisive when your experience, curiosity, gut and deep dive assessment tells you it's right even when others might not agree, not get it or not be prepared to take the plunge. We shall always endeavour to ensure we obtain the right "cornerstone position" and thereafter with complete conviction and relentless focus pro-actively help the talent we invest in to be able to successfully execute their plans par excellence.

Will we find at the right time and invest in the next generation Apple, Netflix, Facebook, Amazon or Tencent? You bet we shall give it our best shot. The world requires more inclusive entrepreneurship through authentic and new collaboration initiatives. The likely result will be outstanding social and human centric innovations that future generations simply shall not wish to live without.

We now have a solid foundation….created in an incredibly short period of time and we are confident that once CI One is completed it shall prove an outstanding long-term winner and that likewise complementary investment opportunities will become available to Monchhichi. When these can be secured we shall act decisively and with vigour. The move to trading on the Standard List of the Main Market should assist us over time in increasing our international institutional shareholder reach and base and thus materially improve liquidity in the shares. This will go hand-in-hand with the appointment of additional members of the team, in both executive and non-executive capacities. We are therefore excited and confident about what the future will bring for all our existing and future stakeholders.

19 September 2017

The Directors' present their Strategic Report and consolidated financial statements for the year ended 31 March 2017.

The Company is in advanced discussions to dispose of the entire equity interest of Viet Energy Ltd and MOWISAT Mexico SAPI for a total cash consideration of £600,000. As a result of these ongoing discussions (and no other parties being interested in the acquisition of these investments) the Directors have concluded that the carrying value should be impaired by £300,000. The Directors consider that it is not possible to specifically allocate the £300,000 impairment against either of the two investments.

Prior to making an investment, it is essential to have a clear understanding of the rapidly and ever evolving dynamics of the TMI sector. The collective experience, extensive global network and industry access of the Directors provide us with a broad ranging perspective and allows us to be selective when it comes to reviewing meaningful investment opportunities. We expect to focus on those investment options which in our view have already obtained demonstrable validation within their sector, with credible and proven management teams and clear medium term visibility of accomplishing inflection catalysts that could propel them into becoming a future category leader.

The TMI sector is presently dominated by a handful of global titans and a select number of well-known vertical niche market leaders. Achieving success requires relentless focus, determination and a real proprietary

edge. We expect that, when we decide to make an investment, we will wish to do so by taking "cornerstone" but non-controlling positions, typically in the range of 10%-30%, of the capital of the investee businesses. We therefore wish from the outset to create the right capital framework such that, over time, your Company will be properly funded and can use a combination of cash and equity as the means to make these cornerstone investments.

Talented entrepreneurial teams require support behind the scenes. We wish to engage with the management and their employees, positively challenge them, pro-actively assist them, and provide them with creative solutions and options that otherwise might not be available to them.

We intend to let our investments develop, and not have any particular exit horizon. Our philosophy will be based on progressive capital growth delivered through a select number of complementary investments that, over time, can benefit all stakeholders. The proposed investing policy is set out below.

"To acquire a diverse portfolio of direct and indirect interests in the technology, media and internet sectors. Investments may be made in shares, or by the acquisition of assets (including the intellectual property) of a relevant business, or by entering into partnerships or joint venture arrangements, or in units in open ended investment companies, exchange traded funds, commodities and futures contracts. Such investments may result in the Company acquiring the whole or part of a company or project (which in the case of an investment in a company may be private or listed on a stock exchange, and which may be pre-revenue). Investments may also be in any type of financial instrument that the Board deems to be beneficial to increasing shareholder value.