AD Works Group <2982> announced on the 15th that its subsidiary Angel Torch will transfer all shares of the regional newspaper company <2164> held by it to REGROWTH1 Limited Liability Business Association.

This time, Angel Torch has agreed with REGROWTH1 Limited Liability Business Association to carry out investment transactions at a certain level to ensure the investment return rate since acquiring shares of the regional newspaper company. The number of transferred shares is 596,200 shares (voting rights ownership ratio 15.9%). With the transfer, the regional newspaper company will be excluded from its equity method associates.