ACHL.L Regulatory News (ACHL)

Asian Citrus Holdings Limited

("Asian Citrus" or the "Company")

Directorate Changes

The board (the "Board") of directors (the "Director(s)") of the Company and together with its subsidiaries (the "Group") is pleased to announce the appointment of Mr. He Xiaohong ("Mr. He") as a non-executive Director with effect from 10 February 2017.

Mr. He, aged 41, is currently the general manager of Shenzhen Yin Tong Lian Assets Appraisal Company Limited*. Mr. He obtained the degree of Bachelor of Business Administration from Central South University in the People's Republic of China (the "PRC") in 2013. He is also an economist accredited by Ministry of Human Resources and Social Security of the PRC. Mr. He has over 15 years of experience in the asset appraisal industry.

Mr. He has entered into a letter of appointment with the Company for a term of three years commencing on 10 February 2017, which can be terminated by either party by way of written notice of not less than three months. His appointment as a non-executive Director is subject to the relevant provisions of retirement by rotation and re-election at the next general meeting of the Company, pursuant to the bye-laws of the Company. According to his letter of appointment, he is entitled to a director's fee of HK$360,000 per annum, which was determined with reference to his duties and responsibilities and the prevailing market conditions.

Save as disclosed above, Mr. He currently does not hold any other directorship or partnership positions in any company or partnership. He has not held any other directorship positions in any other listed public companies, whether in Hong Kong or overseas, in the last five years and does not hold any positions with the Company and other members of the Group. He does not have any relationships with any other directors, senior management or substantial or controlling shareholders of the Company. He does not have any interest in the shares, underlying shares or debentures of the Company or its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed herein, there are no other matters concerning Mr. He's appointment as a non-executive Director that need to be brought to the attention of the shareholders of the Company nor any information to be disclosed pursuant to any of the requirements of Rule 13.51(2)(h)-(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, or under Schedule Two, paragraph (g)(i)-(viii) of the AIM Rules for Companies.

The Board would like to take this opportunity to welcome and congratulate Mr. He on his appointment to the Board.

This announcement contains inside information for the purpose of Article 7 of Regulation (EU) No 596/2014.

* For identification purpose only

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