WZ Venture Capital Exercises Option to Acquire 15,000 shares of Cogobuy Affiliate | Holding 51% of shares

Cogobuy (00400) issued an announcement that the company granted a call option to Komtel Automation's parent company in accordance with the shareholders’ agreement to purchase shares in Cogobuy's subsidiary held by Cogobuy, which is equivalent to Coton The core company's issued share capital is up to 60%.

On June 25, 2018, Cogobuy Co., Ltd. has received notification that Komtra Automation's parent company has exercised call options to acquire 15,000 shares of Cogobuy Co., Ltd. at a total consideration of HK$123.7 million or its equivalent in US dollars. .

After the exercise of the call option is completed, Cogobuy's subsidiary will be owned as to 51% by Komtra Automation's parent company and Cogobuy will have 49%. Therefore, Cogobuy's subsidiary will cease to be the company's Subsidiaries, and their financial results will not be consolidated into the Group's performance.

It is reported that the branch company of Tongxin City is MEGA SMART GROUP LIMITED, which holds the entire issued share capital of Mancheng Technology. Mancheng Technology is a company incorporated in Hong Kong and is principally engaged in the direct sales of electronic components business, including labor Intelligent and robotic applications.

The parent company of Komt Automation is Wozhi Venture Capital Co., Ltd.