On November 4th, Grunt Media reported that China Innovation Investment (01217.HK) announced on November 4, 2024, that the company learned from the announcement titled "Minority Shareholders Request Convening of Special General Meeting of Shareholders to Dismiss and Appoint Directors" released by elife hldgs, that 223 received a notice on October 25, 2024, from a group claiming to be 223 shareholders, requesting to make a motion to dismiss the current directors of 223, as well as to make a motion to appoint two executive directors and three independent non-executive directors simultaneously. According to the content of the announcement, the company learned that the list of directors claimed to be dismissed includes one appointed executive director and one non-executive director.
The company asks 223 to pay attention to the fact that the claim to dismiss will trigger the "Subscription Agreement for the Subscription of Newly Issued Shares of elife hldgs" signed by both parties on September 15, 2024. If the two directors appointed according to the subscription agreement are dismissed at the shareholders' special meeting, this will significantly affect the company's rights as an investor in 223, completely depriving the company of its original intent to invest in 223, as well as the right to monitor and assist the operation of 223 after completion of the subscription, which seriously violates the mutual understanding and agreement reached by both parties during the negotiation and formulation of the terms of the subscription agreement, defaulting on the result will bring double harm to the public interest of 223 shareholders and the public interest of the company shareholders.
The company kindly asks 223 to take this matter seriously, and urges all directors and shareholders of 223 to consider it carefully. The company hereby declares and reserves all rights under the subscription agreement.
