AFC Group Holdings Ltd Directors Resignation

AFC GROUP HOLDINGS LIMITED
245 Ti Rakau Drive
Burswood
Auckland



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