Agritrade Resources : RESIGNATION OF EXECUTIVE DIRECTOR AND CHANGE OF MEMBER OF EXECUTIVE COMMITTEE AND AUTHORISED REPRESENTATIVE

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.

(Provisional Liquidators Appointed)

(For Restructuring Purposes)

(Incorporated in Bermuda with limited liability)

(STOCK CODE: 1131)

RESIGNATION OF EXECUTIVE DIRECTOR AND

CHANGE OF MEMBER OF EXECUTIVE COMMITTEE AND

AUTHORISED REPRESENTATIVE

The board (the ''Board'') of directors (the ''Director(s)'') of Agritrade Resources Limited (the ''Company'') announces that Mr. Ng Xinwei (''Mr. Ng'') has resigned as the executive Director, the chairman of the executive committee of the Company and authorised representative (''Authorised Representative'') for the purpose of Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Stock Exchange'') with effect from 12 August 2020 due to bankruptcy order issued earlier but stayed against Mr. Ng by the High Court of Singapore ended on 3 August 2020.

Mr. Ng has confirmed that he has no disagreement with the Board and that there is no matter relating to his resignation that needs to be brought to the attention of the Stock Exchange and the shareholders of the Company.

Taking this opportunity, the Board would like to express its gratitude to Mr. Ng for his valuable contribution to the Company during his tenure of office.

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The Board is to announce that Mr. Sim Mingqing, an executive director has been appointed as the chairman of the executive committee of the Company and the Authorised Representative with effect from 12 August 2020.

By Order of the Board

Agritrade Resources Limited

(Provisional Liquidators Appointed)

(For Restructuring Purposes)

Sim Mingqing

Executive Director

Hong Kong, 12 August 2020

As at the date of this announcement, the Board comprises Mr. Sim Mingqing and Mr. Yew Chu Sern as executive Directors; Mr. Goh Jun Feng, Ms. Song Kaixin, Cecilia, Mr. Ong Jia Sheng, Jeffrey and Mr. Chew Shee Koon, Malcolm as non-executive Directors and Mr. Siu Kin Wai, Mr. Terence Chang Xiang Wen, Mr. Cheng Yu and Mr. Phen Chun Shing Vincent as independent non-executive Directors.

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