Conch Group intends to increase its holdings of Conch Venture!

25, Conch Venture announced that Anhui Conch Group Co., Ltd. was considering the possible acquisition of additional shares of the company. Upon completion of the acquisition, Conch Group will directly and indirectly hold approximately 21% of the issued share capital of the Company. Upon completion of the

acquisition, Conch Group and the persons acting in concert will hold a total of not more than 30% of the voting rights and will restructure the composition of the board of directors of the Company. The company will become a subsidiary of Conch Group, and its financial results will be incorporated into the consolidated financial statements of Conch Group.

As at the date of this announcement, Conch Group holds the shares of the Company directly and indirectly through Conch Cement. Conch Cement holds approximately 10.39% of the issued share capital of the Company and is the single largest shareholder of the Company. The State-owned Assets Supervision and Administration Commission of Anhui Province indirectly holds 51% equity interest in Conch Group and the Company holds 49% equity interest in Conch Group.