MEXAN(00022): Controlling shareholder completes placement and retains all shares.

MEXAN (00022) issued an announcement regarding the sale of existing shares by the controlling shareholder Winland Wealth (BVI) Limited (the seller). The board of directors was notified by the seller that the sale has been completed, and all the shares available for sale (approximately 1.327 billion shares, representing about 67.47% of the company's existing issued share capital and equivalent to all the shares held by the seller before the completion) have been successfully allocated to no fewer than 6 placees by the placing agent according to the placing agreement. All these allocated shares were settled on April 9, 2026. According to the placing agent, each placee has confirmed that they and their ultimate beneficial owners are independent of the seller, the company, or any persons acting in concert with the seller or the company, and have no connection or agreement with such persons. According to the terms of the placing agreement, the placees (either alone or together with any persons acting in concert with them) are not permitted to hold 30% or more of the total issued share capital of the company after completion. After completion, the seller no longer holds any shares in the company and is therefore no longer the controlling shareholder. The company further received information from the placing agent that two placees, Mr. Chen Jixiang (formerly an independent third party of the company just before completion) and Max Premier Limited (formerly an independent third party of the company just before completion, with Mr. Chen being the ultimate beneficial owner), have collectively purchased shares representing approximately 17.64% of the total issued share capital of the company. Therefore, Max Premier Limited and Mr. Chen have become major shareholders of the company immediately after completion.