Kong Zhanpeng and Wang Tieguang entered into share purchase agreement to acquire 47% stake in Global Sweeteners Holdings Limited (SEHK:3889) from Global Corn Bio-chem Technology Company Limited for HKD 43.07 million on April 6, 2023. Total of 717,965,000 GSH Shares, representing approximately 47.00% was transferred at a total consideration of HKD 43.07 million equivalent to HKD 0.06 per GSH Sale Share. The consideration payable under the Offer shall be payable in cash. Kong Zhanpeng will acquire 358,982,500 GSH Shares, Wang Tieguang will acquire 358,982,500 GSH Shares. Wang Tieguang holds 43,264,000 GSH Shares, representing 2.83%. GSH Completion is conditional upon the following conditions,GBT Shareholders’ approval, GSH Independent Shareholders’ approval for the Dihao SPAs, the CB Subscription Agreement, GSH SPA having obtained all necessary permissions, approvals and consents (including the Executive’s consent required in respect of the Special Deals under Rule 25 of the Takeovers from the Executive, the Stock Exchange, other regulatory authorities, representations and warranties given by Global Corn under the GSH SPA remaining true, GSH Shares remaining listed and traded on the Stock Exchange. GSH Completion shall take place on the fifth Business Day after all conditions precedent fulfilled. The GBT Group intends to use the net proceeds from the GSH Disposal to meet the daily. The long stop date is September 30, 2023.

Octal Capital Limited acted as an independent financial advisor to Global Sweeteners Holdings Limited. CCBI Capital and China Galaxy have been appointed as the joint financial advisers to the Joint Offerors.