Glonghui, January 13, 丨 Taiga Insurance (06161.HK) issued an announcement. The board of directors of the company received notifications from Mr. Lai Bingliang and Mr. Zhao Xinting (both executive directors and major shareholders of the company) on January 13, 2020 by Mr. Lai, Champion City Holdings Limited (a company wholly owned by Mr. Lai), Mr. Zhao, Staffing Rich Limited (a company wholly owned by Mr. Zhao) (collectively referred to as such sellers) and Smart Neo Holdings Limited (as the buyer) and Mr. Wu Yu entered into an agreement to trade a total of 139 million company shares at a cost of HK$1.63 per share sold. The sales shares are equivalent to about 26.62% of the total number of shares issued by the company.

Among them, Mr. Lai conditionally agreed to sell 56.25 million shares held by Champion City; and 12.5 million shares held personally. Mr. Zhao conditionally agreed to sell 56.25 million shares held by Dairy Rich; 700,000 shares jointly held with his spouse; and 13.12 million shares held by him personally.

After the agreement is completed, Mr. Lai, Champion City, Mr. Zhao, and Dairy Rich will no longer hold any shares in the company, and they will no longer be the main shareholders of the company, and Mr. Wu and Smart Neo will become the main shareholders of the company.