iFAST Complete Sale of a 5% Stake in iFast China Business For USD1.75 Million

29th June 2016, iFAST Corporation

The Board of Directors (the “Directors” of the “Board”) of iFAST Corporation Ltd (“iFAST” or the “Company” and together with its subsidiaries, the “Group”) refers to the Company’s announcement dated 28 April 2016 (the “Previous Announcement”) in relation to the entry by its subsidiary, iFAST China Holdings Pte. Ltd. (formerly known as  FA Corporate & Compliance Consultancy Pte. Ltd.) (Company Registration No. 200722799G) (“iFAST China Holdings”) into a non-binding memorandum of understanding (the “Memorandum”) with Caerulean Limited (BVI Company No. 190290) (“CL”) with its registered address at c/o Offshore Incorporations Limited, P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands (collectively, the “Parties” and each, a “Party”.) The Board wishes to announce that the following Memorandum, the Parties had, on 29 June 2016, entered into subscription agreement (the Agreement).

Pursuant to the Agreement, CL shall subscribe for, and iFAST China Holdings shall issue and allot, 78,948 newly issued ordinary shares in iFAST China Holdings (the “Subscription Shares” and each, a “Subscription Share”), representing 5% of the share capital of iFAST China Holdings on an enlarged basis, at a cash consideration of US$1.75 million (the “Subscription Consideration”) arrived at on a willing-seller and willing-buyer basis (the “Subscription”). The Subscription has been completed today in accordance with the terms and conditions of the Agreement and the Subscription Consideration has been satisfied in full in cash on date of completion (“Completion”).

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