The Board of Directors of Mirach Energy Limited updated that the company has on 3 June 2019 established a new subsidiary, Smart Life International Investment Group Co., Limited, a Hong Kong-incorporated company with an initial capital of HKD 100,000 comprising 100,000 ordinary shares. The principal business of Smart Life International Investment Group Co., Limited is in providing e-commerce and trading services. The transaction is funded by internal resources and is not expected to have a material impact on the net tangible assets or earnings per share of the Group.