The 102 million shares held by the controlling shareholder, China Sports, of METASPACEX (01796) were disposed of by the lender in the stock market.

META SPACEX (01796) has issued an announcement that the Board of Directors has been informed by China Sports Asset Management Limited (China Sports, the controlling shareholder of the company) that between April 2, 2026 and April 9, 2026, China Sports disposed of 102 million shares (disposed shares) held by them in the stock market without authorization from China Sports, in accordance with the terms of the loan agreement with the lender of China Sports (lender). As of the date of this announcement, the company has not received complete information about the buyer of the disposed shares, nor has it received any confirmation that the buyer(s) are independent third parties not related to the lender or its associates. The company is actively conducting inquiries with relevant parties. In light of this, the company has noted several issues to be clarified regarding the compliance of the buyer's identity, including whether the buyer(s) is considered "connected persons" (as defined in the Listing Rules) or "acting in concert" (as defined in the Takeovers Code), and is taking measures to ensure compliance. Therefore, the company has conducted a detailed review of the disposal of shares to ensure compliance with the Listing Rules and Takeovers Code, including but not limited to: (i) the true identity of all buyers of the disposed shares; (ii) whether any of the buyers are acting in concert with the lender or any other parties; and (iii) whether the disposal of shares involves any non-compliance with the Listing Rules or Takeovers Code. The company will make further announcements when significant progress is made in the review. The company will continue to act in the best interests of shareholders and maintain transparent information disclosure. Following the disposal of shares, China Sports now holds 255.86 million shares, representing approximately 53.3% of the total issued shares. China Sports is wholly owned by Ms. Huang Hou. Therefore, Ms. Huang Hou is considered to have an interest in the shares held by China Sports. The Board of Directors has been further informed by China Sports that due to the ongoing loan arrangements between China Sports and the lender, the lender has made the disposal of the shares held by China Sports in the stock market in accordance with the terms of the loan agreement to meet the repayment obligations. The company is not a party to the loan arrangement between China Sports and the lender, nor is it a guarantor of the loan. The Board of Directors believes that the disposal of shares will not have a significant impact on the company's core business, as it is unrelated to the company and will not affect its normal operations, corporate governance, and daily management. As of the date of this announcement, the company has been operating as usual. The company's business operations are sound, ensuring the confidence of shareholders and investors.