[ET Net News Agency, 19 January 2018] Cogobuy Group (00400) said its subsidiary agreed
to acquire the entire equity interest in Shanghai KMT Electronic Technology Ltd. Co. and
Shanghai KMT Automation Control Technology Ltd. Co. as well as certain assets from Rich
Wisdom Ventures Limited, in consideration of which Rich Wisdom Ventures agrees to
subscribe for, and Cogobuy subsidiary agrees to issue at nil consideration, the
subscription shares, representing 30% of the enlarged issued share capital of Cogobuy
subsidiary after completion.
Cogobuy shall grant to Rich Wisdom Ventures the call option to purchase shares in
Cogobuy subsidiary held by Cogobuy, equivalent to up to 60% of the issued share capital of
Cogobuy subsidiary.
The assets include the ez-robot.cn/platform, and related software and technology. As a
result of the reorganisation and the acquisition, the primary business held by Cogobuy
subsidiary shall be the EZBOT business. The EZBOT business is one of the incubation
projects under INGDAN.com, taking advantage of the INGDAN.com platform to build a
professional community in industrial robotics, industrial automation and industrial
equipment, terminals and artificial intelligence. (HL)