TIDMACHL

RNS Number : 0188E

Asian Citrus Holdings Ltd

30 October 2015

For immediate release 30 October 2015

Asian Citrus Holdings Limited

("Asian Citrus" or the "Company")

Announcement

Resignation of the Honorary Chairman of the Company

With reference to the announcement of the Company of 3 March 2014 (the "Announcement") in respect of, inter alia, the appointment of Mr. Tong Wang Chow ("Mr. Tong") as the Honorary Chairman of the Company and as the consultant pursuant to the Business Consultant Contract, the Company hereby announces that Mr. Tong has today served written notice to the Board of his resignation due to health reasons. His role as the Honorary Chairman of the Company will cease with immediate effect. Capitalized terms used herein shall have the same meaning as ascribed to them in the Announcement unless stated otherwise.

In addition, the Company and Mr. Tong mutually agreed to early termination of the Business Consultant Contract entered into between himself and the Company, on the same day, with no further obligation on the part of the Company to pay to Mr. Tong the remaining consultancy fees due after 30 October 2015. The Company will pay Mr. Tong the sum of HK$162,500 being Mr. Tong's consultancy fee for the month of October 2015.

Mr. Tong confirmed that he has no disagreement with the Board and that he is not aware of any matter that needs to be brought to the attention of the Shareholders or the Hong Kong Stock Exchange in relation to his resignation.

The Board would like to take this opportunity to thank Mr. Tong for his invaluable contributions to the Company.

For further enquiries please contact:

 
 Asian Citrus                                +852 2559 0323 
 Mark Ng, Executive Director and 
  Chief Financial Officer 
 
 Cantor Fitzgerald Europe (NOMAD             +44 (0) 20 7894 
  and Broker)                                 7000 
 Rick Thompson / David Foreman (Corporate 
  Finance) 
                                              +44 (0) 20 7067 
  Weber Shandwick Financial                    0000 
 Nick Oborne, Stephanie Badjonat, 
  Tom Jenkins

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

October 30, 2015 07:32 ET (11:32 GMT)

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