Xtep Int'l Holdings Limited (the "Company") announces that the circular to shareholders originally scheduled to be sent by July 15, 2024, or before, will be postponed until August 2, 2024, or before. The circular includes several important matters, including the disclosure of the sale of all KP Global issued shares and related transactions, the proposed distribution of special dividends, the early redemption of convertible bonds by KP Global, the issuance of convertible bonds by the Company in the amount of HKD 500,000,000, the grant of subscription options by the controlling shareholder to the investors of the convertible bonds issued by Gatsby Investment, the issuance of convertible bonds in the amount of USD 154,000,000 by KP Global to the Company, and exemption from the non-competition...Show More

Xtep Int'l Holdings Limited (the "Company") announces that the circular to shareholders originally scheduled to be sent by July 15, 2024, or before, will be postponed until August 2, 2024, or before. The circular includes several important matters, including the disclosure of the sale of all KP Global issued shares and related transactions, the proposed distribution of special dividends, the early redemption of convertible bonds by KP Global, the issuance of convertible bonds by the Company in the amount of HKD 500,000,000, the grant of subscription options by the controlling shareholder to the investors of the convertible bonds issued by Gatsby Investment, the issuance of convertible bonds in the amount of USD 154,000,000 by KP Global to the Company, and exemption from the non-competition agreement. The reason for the delay is that the Company needs more time to compile and implement the data to be included in the circular. Xtep Int'l is led by Mr. Ding Shui Po, Chairman of the Board, and has non-executive director Mr. Chen Weicheng and independent non-executive directors Dr. Po Ming Hiu, Dr. Wu Ka Tse, and Dr. Chan Yee Wa on the Board of Directors.