Ashley Group Holdings Limited

The principal activity of the company is during the year continued to be that of a holding company and through its subsidiaries that of the provision of shipping services, ship owning, ship management, ship chartering services to third party customers and to its fellow subsidiary companies and the purchase and sale of commodities from international suppliers to international customers respectively. There have been no significant changes in the Company's principal activities during the period and the Directors are not aware at the date of this report, of any likely changes in the Company's activities in the forthcoming year.