MTT GROUP (02350) controlling shareholder is currently in discussions with an independent third party regarding the potential sale of its shares.

MTT GROUP (02350) announced that the company's board of directors has noted recent unusual changes in the company's stock price and trading volume. After conducting all reasonable inquiries, the board was informed by the company's controlling shareholder, Ip Group Holdings Limited, that they are currently in discussions with an independent third party regarding a potential sale of their shares. As of the date of this announcement, the controlling shareholder, held solely by executive director and chairman Ye Jiawei, owns 3.58 billion shares, approximately 57.34% of the total issued share capital of the company. The board was informed by the controlling shareholder that as of the date of this announcement, the discussions are still ongoing. The potential sale may not necessarily materialize. As of the date of this announcement, the terms and conditions of the potential sale have not been finalized, and the controlling shareholder has not entered into any formal agreement regarding the potential sale. There is no guarantee that the potential sale will materialize or be completed. Therefore, the potential sale may not necessarily proceed.