The Board of Directors of Accrelist Ltd. announced that the company has incorporated a wholly-owned subsidiary named WE Crowdfunding Pte. Ltd. in Singapore. Issued and paid up share capital of wholly-owned subsidiary is USD 1.00 of 1 ordinary share. The subsidiary is incorporated for the purpose of the new securities-based crowdfunding business. The company is in the midst of obtaining the relevant licenses from Monetary Authority of Singapore (MAS). The above transaction was funded through the Group’s resources internally and is not expected to have any material impact on the net tangible assets per share and earnings per share of the Group for the current financial year ending March 31, 2017.