The Board of Directors of Advancer Global Limited announced that Advancer Nation Pte. Ltd., an indirect wholly-owned subsidiary of the Company held through Advancer Global Manpower Pte. Ltd., has on 9 August 2019, entered into a joint venture agreement with Fullcast Holdings Co., Ltd. to incorporate a new joint venture company in Japan providing, inter alia, services in respect of staffing and dispatching of foreign labour in Japan. In accordance to the terms of the JV Agreement, ANPL and Fullcast will incorporate a joint venture company, Fullcast International Co., Ltd. The Joint Venture Company will have a registered share capital of 80,000,000 Japanese Yen, comprising 1,600 ordinary shares. Fullcast and ANPL have agreed to contribute in the following proportions to the Joint Venture Company: Fullcast will subscribe for 51% of the equity interest in the Joint Venture Company, comprising 816 ordinary shares, for a cash consideration of JPY 40,800,000; and ANPL will subscribe for 49% of the equity interest in the Joint Venture Company, comprising 784 ordinary shares, for a cash consideration of JPY 39,200,000. ANPL's Consideration will be satisfied in full through the net proceeds from the share subscription of 65,000,000 new ordinary shares in the capital of the Company by Fullcast Holdings Co., Ltd. on 31 August 2018, and is not expected to have any material impact on the earnings per share or net tangible assets per share of the Group for the current financial year ending 31 December 2019.