AFC Group Holdings Ltd Directors Resignation

The Directors of AFC hereby advise that Mr. Brent King has resigned effective 31 March 2017. Mr. Xia the Chairman of AFC said, "We had asked Mr. King to remain on the Board for two years post the restructure, recapitalization and renaming of the company. That period will be completed on 31 March 2017 and Mr. King has advised he wishes to move on to other projects. We thank him for his support and guidance through the procedure. We have not always agree on all issues but his contribution to the Group has been valuable, specifically the purchase of Longview Vineyard and Winery and the procedural, governance advice and assistance." Mr. Brent King said, "AFC is now a company with three businesses, cash in the Bank plus it has no debt. The opportunity to build on the New Zealand /China trade relationship is very significant. I like to assist companies list and become established then move on to other new companies. It is always a challenge for new companies to become established on a public market and it takes time for procedures and processes to become established, particularly if those companies are small or they are new to the New Zealand Capital markets. It has not always been smooth sailing and the Board of AFC has had its challenges and differences over time, which is to be expected. The business is now well capitalized and I wish Mr. Xia and AFC the very best for the future." Mr. Howard Long Director 24 March 2017 For further information Please contact Mr. Howard Long howard.long@afcnz.com +64 21 244 8000 End CA:00298817 For:AFC Type:DIRECTOR Time:2017-03-24 10:20:45