1.Type of merger and acquisition (e.g.merger, spin-off, acquisition,
or share transfer):merger
2.Date of occurrence of the event:2020/10/23
3.Names of companies participating in the merger and acquisition (e.g., name
of the other company participating in the merger, newly established company
in a spin-off, acquired company, or company whose shares are transferred):
World Peace International (BVI) Limited, the surviving company
Prime Future Technology Limited, the dissolved company
4.Trading counterparty (e.g., name of the other company participating in the
merger, company spinning off, or trading counterparty to the acquisition or
share transfer):Prime Future Technology Limited
5.Whether the counterparty of the current transaction is a related party:yes
6.Relationship between the trading counterparty and the Company (investee
company in which the Company has re-invested and has shareholding of XX%),
explanation of the reasons for the decision to acquire from or transfer
shares to an affiliated enterprise or related party, and whether it will
affect shareholders’ equity:
Surviving company and dissolved company are WPG 100%-owned subsidiaries.
The purpose of the merger is to streamline organizational structure, it
shall not affect shareholders' equity.
7.Purpose of the merger and acquisition:Streamline organizational structure
and integrate group resources.
8.Anticipated benefits of the merger and acquisition:
Streamline organizational structure, integrate group resources and
reduce operating costs.
9.Effect of the merger and acquisition on net worth per share and earnings
per share:NA
10.Share exchange ratio and calculation assumptions:NA
11.Whether the CPA, lawyer or securities underwriter issued an unreasonable
opinion regarding the transaction:NA
12.Name of accounting, law or securities firm:NA
13.Name of CPA or lawyer:NA
14.Practice certificate number of the CPA:NA
15.Estimated date of completion:2020/10/30
16.Matters related to the assumption of corporate rights and obligations of
the dissolving company (or spin-off) by the existing or newly-established
company:World Peace International (BVI) Limited shall assume the rights and
obligations of Prime Future Technology Limited starting from record date.
17.Basic information of companies participating in the merger:
The main business of World Peace International (BVI) Limited and Prime
Future Technology Limitedis are holding company.
18.Matters related to the spin-off (including estimated value of the
business and assets planned to be transferred to the existing company or new
company.The total number of shares to be acquired by the spun-off company
or its shareholders, and their respective types and no.Matters related to
the reduction, if any, in capital of the spun-off company)(note: not
applicable for announcements unrelated to spin-offs):NA
19.Conditions and restrictions for future transfer of shares resulting from
the merger and acquisition:None
20.Other important terms and conditions:None
21.Any objections from directors to the transaction:No
22.Whether the transaction involved in change of business model:No
23.Details on change of business model:NA
24.Details on transactions with the counterparty for the past year and the
expected coming year:None
25.Source of funds:NA
26.Any other matters that need to be specified:None