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GTN - 2018 earnings to be driven largely by divestment gains - AGM Note

We attended GTN’s AGM on April 19, 2018. The company presented its plans to raise ownership in its key subsidiary Moc Chau Milk (MCM), non-core divestments and 2018 guidance. GTN might increase its ownership in MCM through a private placement as MCM’s chairman said MCM will likely need capital in 2019-2020 to upgrade its manufacturing capabilities.