TANSH Global Food : Announcements and Notices - Voluntary Announcement

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TANSH Global Food Group Co., Ltd

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3666)

VOLUNTARY ANNOUNCEMENT

This announcement is made by TANSH Global Food Group Co., Ltd (the "Company", together with its subsidiaries, the "Group") on a voluntary basis.

The board of directors (the "Board") of the Company wishes to advise that the Company has been informed by Madam Wang Huimin ("Madam Wang"), the chairlady, an executive director and a controlling shareholder of the Company, that she has been served with a Statutory Demand (the "Statutory Demand") issued by her brother Mr. Wang Hairong ("Mr. Wang") for an alleged debt of HK$213,920,000 (the "Alleged Debt") on 9 December 2018. Further, on 31 December 2018, Mr. Wang has presented a Bankruptcy Petition to the High Court of Hong Kong (the "High Court") against her for the Alleged Debt (the "Bankruptcy Petition").

According to Madam Wang, she has through her solicitors applied to the High Court to set aside the Statutory Demand on 24 December 2018 (the "Set Aside Application") and she is awaiting the Court's directions in respect thereof. Madam Wang has sought legal advice and is of the view that the Bankruptcy Petition had been wrongfully presented to the High Court by Mr. Wang pending the Set Aside Application. Madam Wang's solicitors have made an application to the High Court on 31 December 2018 for, among other things, the dismissal of the Bankruptcy Petition and the Court's orders or directions are pending as at the time of issuance of this announcement. Madam Wang has informed the Company that she will oppose the Bankruptcy Petition vigorously should the circumstances require.

The Bankruptcy Petition is issued against Madam Wang personally and it does not concern the Group. The Board does not envisage the above-mentioned matters will have any material adverse impact on the business operation or financial performance of the Group.

The Company will keep the shareholders of the Company and potential investors informed of any further information to be provided by Madam Wang in connection to the Set Aside Application and/ or the Bankruptcy Petition by way of further announcement(s) as and when appropriate.

Shareholders and potential investors of the Company are reminded to exercise caution when dealing in the shares of the Company.

By order of the Board

TANSH Global Food Group Co., Ltd

WANG Huimin

Chairlady

Shanghai, the People's Republic of China, 2 January 2019

As at the date of this announcement, the executive directors of the Company are Ms. WANG Huimin, Mr. Sun Yong and Ms. ZHU Xiaoxia; the non-executive directors of the Company are Ms. WANG Huili and Ms. WU Wen; and the independent non-executive directors of the Company are Dr. Wu Chun Wah, Mr. LUI Wai Ming and Mr. LIN Lijun.