GLONGHUI January 23 | INTL GENIUS (00033.HK) announced that on January 22, 2024, the buyer (Gold Collection Enterprises Limited, a wholly-owned subsidiary of the company), the company and the seller (i.e. Dr. Ye Guanhua) entered into a sales agreement. According to this, the seller conditionally agreed to sell all of the shares for sale (equivalent to all of the issued shares of the target company Deep Neural Computing Company Limited) share capital).

The total cost of the shares to be sold is approximately HK$621 million, which will be paid in cash upon completion; and the company will allocate and issue 105 million consideration shares to the seller (or its nominee) at an issue price of HK$5.624 per share after completion. Consideration shares account for approximately 19.54% of the company's issued share capital at the date of this announcement and approximately 16.35% of the issued share capital after being expanded through allotment and issuance of consideration shares. The issue price is about 5.3% premium over the closing price of HK$5.340 per share as reported by the Stock Exchange on January 22 (the date of the sale agreement).

The target group is a leading service and application organization that explores deep neural networks, artificial intelligence, distributed computing and quantitative trading algorithms. As of the date of this announcement, the target company is wholly owned by the seller. The target group is an approved manager in the British Virgin Islands who is licensed to act as an investment fund manager or advisor in the British Virgin Islands. It provides a wide range of services for investment funds, including technical support through cutting-edge technology, distributed neural network algorithms, and a robust risk management model.