The Board of Directors of Halcyon Agri Corporation Limited informed the shareholders that the company has incorporated a wholly-owned subsidiary, (Shanghai CMI Rubber Co. Ltd.) in the People's Republic of China. Date of incorporation is December 27, 2018. Principal activity: Trading and distribution of natural rubber and rubber related products. Registered capital: USD 3,000,000. The Incorporation was funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets per share or earnings per share of the Group for the financial year ended 31 December 2018.