The Board of Directors of Freight wishes to announce that the Company has on 5 July 2019 received the Certificate of Incorporation dated 3 May 2019 of FMGL Overseas Ventures Limited (“FMGLOVL”), a wholly-owned subsidiary of the Company incorporated under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong). The issued share capital of FMGLOVL is HKD250,000 and its intended principal activities are investment holding and management services.

The above incorporation does not have any material impact on the Earnings per Share and Net Assets of the Group for the financial year ended 30 June 2019. Further, none of the Directors and/or substantial shareholders of the Company and/or persons connected with them has any interest, direct or indirect, in the said incorporation.