Ausnutria Dairy : Grant of Options

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

AUSNUTRIA DAIRY CORPORATION LTD ዦᎴԪٰุ΅Ϟࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1717)

GRANT OF OPTIONS

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the "Listing Rules").

The board of directors (the "Directors") of Ausnutria Dairy Corporation Ltd (the "Company") announces that after trading hours on 15 January 2019, options (the "Options") to subscribe for a total of 40,000,000 ordinary shares of HK$0.10 each in the capital of the Company (the "Shares") were granted to certain eligible participants pursuant to the share option scheme adopted by the Company on 19 September 2009. The Options were granted, subject to the acceptance of the grantees, with details as follows:

Date of grant :

Number of Options granted :

15 January 2019 40,000,000

Exercise price of Options granted :

HK$10.00 per Share, which is not less than the highest of (i) the closing price of HK$7.95 per Share as stated in the daily quotation sheet issued by the Stock Exchange on 15 January 2019, being the date of grant of the Options; (ii) the average closing price of HK$7.87 per Share as stated in the daily quotation sheets issued by the Stock Exchange for the five trading days immediately preceding the date of grant of the Options; and (iii) the nominal value of HK$0.10 per Share

Validity period of the Options : From 15 January 2019 to 14 January 2024

Exercise period of the Options

• : One-third of the Options shall be exercisable from the second anniversary of the date of grant; a further one-third of the Options shall be exercisable from the third anniversary of the date of grant; and the remaining Options shall be exercisable from the fourth anniversary of the date of grant

Among the total of 40,000,000 Options granted, 32,500,000 were granted to certain eligible participants of the Company, and 7,500,000 were granted to the following Directors:

Number of
Options
Name of Director	granted
Yan Weibin (Executive Director and Chairman)	1,500,000
Bartle van der Meer (Executive Director and Chief Executive Officer)	1,500,000
Ng Siu Hung (Executive Director)	1,500,000
Shi Liang (Non-executive Director and Vice-Chairman)	500,000
Qiao Baijun (Non-executive Director)	500,000
Tsai Chang-Hai (Non-executive Director)	500,000
Jason Wan (Independent non-executive Director)	500,000
Lau Chun Fai Douglas (Independent non-executive Director)	500,000
Aidan Maurice Coleman (Independent non-executive Director)	500,000

Save as disclosed in this announcement, none of the grantees is a Director, chief executive or substantial shareholder of the Company, nor an associate (as defined in the Listing Rules) of any of them.

In accordance with Rule 17.04(1) of the Listing Rules, the grant of the Options to the Directors has been approved by the independent non-executive Directors, save that each of the independent non-executive Director has abstained from approving the resolution relating to the grant of options to himself or herself.

By order of the Board

Ausnutria Dairy Corporation Ltd

Yan Weibin

Chairman

The People's Republic of China, 15 January 2019

As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Yan Weibin (Chairman), Mr. Bartle van der Meer (Chief Executive Officer) and Ms. Ng Siu Hung; three non-executive Directors, namely Mr. Shi Liang (Vice-Chairman), Mr. Qiao Baijun and Mr. Tsai Chang-Hai; and three independent non-executive Directors, namely Mr. Jason Wan, Mr. Lau Chun Fai Douglas and Mr. Aidan Maurice Coleman.