Outcome of board meeting of Trans Asia Corporation

At meeting held on 15 May 2015

Trans Asia Corporation announced that the Board of Directors of the Company at its meeting held on 15 May 2015, inter alia, has transacted the following:

1. The Board specified that previous meeting which was called on 12 March 2015, was treated as invalid, as the Registrar of Companies rejected the alteration to the Memorandum of Association of the Company stating that the proposed objects clause inserted to the Clause III (B) of the Memorandum of Association of the Company are not ancillary or incidental to the main objects. Thereafter, in view of business diversification and enlargement of scope of business, the Board approved the proposal of inserting the proposed new object clauses in Clause III C (i.e. Other Objects) of the Memorandum of Association of the Company before the existing Clause 1 of "C. The Other Objects" of the Memorandum of Association, subject to the approval of the shareholders in General Meeting.

2. The Board approved the Notice of the Extra-Ordinary General Meeting of the Company, along with the Explanatory Statement pursuant to Section 102(1) of the Companies Act, 2013.

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